Top 20 US Property Portals – May Update

Simon Baker

June 25, 2012

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Earlier this year we took our first few looks at the top players in the US property portal market.  It’s now time to update what is happening with US property portals.

Overall not much has changed in the US market.  It continues to be fragmented with the top 3 players accounting for just over 50% of the key metrics.  The remaining 17 players fight it out over the remaining 50% or so of each of the key metrics.

Overall it is Zillow that leads most metrics with Realtor.com, Trulia and realestate.yahoo.com sharing 2 – 4th place.

While we look at the rankings of the top 20 players through a number of metrics below, total time on site is probably the single best way to determine leadership at it combinations traffic and engagement. Total time on site takes into account visits (a combination of unique visitors and frequency) as well as what they do on the site once they are there – in this case average session duration.

On this measure we see that Zillow.com has just over 21% of the total time spent visiting the top 20 sites with realtor.com close behind with just over 20%.  Trulia is solidly in 3rd place with realestate.yahoo.com in 4th.  Then there is a raft of players from homes.com with 8% through to caldwellbanker with 1%.  It is clear to see why no one is make the same level of revenues or profits as the major players do in Australia, the UK, France, and Germany.  A fragmented, competitive market will always kill profits.

 

TToS (m) % TToS
zillow.com 465.8 21.4%
realtor.com 444.3 20.4%
trulia.com 309.3 14.2%
realestate.yahoo.com 174.0 8.0%
homes.com 142.0 6.5%
redfin.com 106.4 4.9%
ziprealty.com 88.8 4.1%
realetate.msn.com 74.6 3.4%
listingbook.com 55.5 2.5%
rent.com 36.2 1.7%
remax.com 34.7 1.6%
apartments.com 32.9 1.5%
apartmentguide.com 32.8 1.5%
hotpads.com 29.2 1.3%
forrent.com 28.3 1.3%
century21.com 27.5 1.3%
weichert.com 26.1 1.2%
homefinder.com 24.2 1.1%
rentals.com 24.0 1.1%
caldwellbanker.com 22.8 1.0%

 

Note: TToS = Total Time on Site (Visits x Average Session Duration)

All numbers in this document are prepared using Google Ad Planner’s May 2012 numbers.

 

Traffic

On a pure traffic (unique visitors) to the site basis, zillow.com and realestate.yahoo.com are neck and neck.  However, from an advertiser perspective, it is win win with zillow distributing listings to realestate.yahoo.com.  Realtor.com and Trulia share third place.

 

UV (users) (m)
zillow.com 12.0
realestate.yahoo.com 12.0
realtor.com 8.1
trulia.com 8.1
realetate.msn.com 6.1
homes.com 3.8
redfin.com 2.3
apartmentguide.com 1.6
ziprealty.com 1.5
rent.com 1.5
remax.com 1.3
apartments.com 1.3
hotpads.com 1.2
forrent.com 1.2
mynewplace.com 1.2
rentals.com 1.1
century21.com 1.0
listingbook.com 0.9
weichert.com 0.9
homefinder.com 0.9

Note: UV = Unique Visits

When looking at the change between January and May, only zillow has managed to maintain traffic levels.  The others, with realtor.com in particular, have all slipped back.

 

Unique Visitors (Users) (m)
May-12 Jan-12 % Change
zillow.com 12.0 12.0 0%
realestate.yahoo.com 12.0 13.0 -8%
trulia.com 8.1 9.1 -11%
realtor.com 8.1 9.9 -18%

 

On a visits basis, Zillow is clearly in front of realestate.yahoo.com with realtor.com and trulia in 3rd and 4th place.  Interestingly Zillow only captures 19% of the visits to the top 20 sites and doesn’t dominate its market as realestate.com.au does in Australia (with 60%) and as rightmove does in the UK (with 56%).

 

Visits (m) % Visits
zillow.com 43.0 19.1%
realestate.yahoo.com 36.0 16.0%
realtor.com 31.0 13.8%
trulia.com 29.0 12.9%
realetate.msn.com 14.0 6.2%
homes.com 12.0 5.3%
redfin.com 11.0 4.9%
ziprealty.com 7.4 3.3%
listingbook.com 5.2 2.3%
rent.com 4.1 1.8%
apartmentguide.com 4.1 1.8%
remax.com 4.0 1.8%
apartments.com 3.4 1.5%
hotpads.com 3.3 1.5%
forrent.com 3.2 1.4%
mynewplace.com 3.1 1.4%
rentals.com 3.0 1.3%
century21.com 2.8 1.2%
weichert.com 2.7 1.2%
homefinder.com 2.5 1.1%

 

Over the 5 months between January and May, Zillow has increased visits by 10% and trulia by 7%, while realestate.yahoo.com has stayed flat and more concerningly, realtor.com has slipped backwards by 3%.

 

Visits (m)
May-12 Jan-12 % Change
zillow.com 43.0 39.0 10%
realestate.yahoo.com 36.0 36.0 0%
realtor.com 31.0 32.0 -3%
trulia.com 29.0 27.0 7%

 

When looking at frequency of visit, the top 4 has a very different look.  Only realtor.com remains with 3.8 visits per month.  Listingbook is out front with a massive 5.7 visits per month and ziprealty with just under 5 visits per month.  In markets where the leaders dominate – realestate.com.au and rightmove both have a frequency of 5 x per month.

 

Frequency
listingbook.com 5.7
ziprealty.com 4.9
redfin.com 4.8
realtor.com 3.8
zillow.com 3.6
trulia.com 3.6
homes.com 3.2
remax.com 3.1
realestate.yahoo.com 3.0
estately.com 2.9
foreclosure.com 2.9
weichert.com 2.9
caldwellbanker.com 2.9
century21.com 2.8
forsalebyowner.com 2.8
hotpads.com 2.8
homefinder.com 2.7
rent.com 2.7
rentals.com 2.7
realtytrac.com 2.7

 


Engagement

The second measure of success is the level of engagement a site has with its users.  This is best viewed through page impression, average page impressions per visit and average session duration.

On a page impression basis the trulia moves into second place with 19% of the page impressions to the top 20 players.  Zillow remains on top with realtor.com in 3rd place.  Interestingly, realestate.yahoo.com slides to 5th place with just 6% of the page impressions – even though it has just as many Unique Visitors as Zillow.

 

PI (m) % PI’s
zillow.com 500.0 21.0%
trulia.com 450.0 18.9%
realtor.com 400.0 16.8%
homes.com 150.0 6.3%
realestate.yahoo.com 140.0 5.9%
realetate.msn.com 130.0 5.5%
redfin.com 98.0 4.1%
hotpads.com 88.0 3.7%
listingbook.com 74.0 3.1%
ziprealty.com 67.0 2.8%
century21.com 55.0 2.3%
remax.com 38.0 1.6%
rent.com 34.0 1.4%
weichert.com 34.0 1.4%
apartments.com 26.0 1.1%
rentals.com 23.0 1.0%
apartmentguide.com 21.0 0.9%
caldwellbanker.com 20.0 0.8%
homefinder.com 19.0 0.8%
mynewplace.com 18.0 0.8%

 

Over the last 5 months, trulia and realestate.msn.com have been the big movers.  Both have delivered double digit growth in page impressions.  On the flip side, homes.com has dropped a massive 29%.

 

Page Impressions (m)
May-12 Jan-12 % Change
zillow.com 500.0 490.0 2%
trulia.com 450.0 410.0 10%
realtor.com 400.0 410.0 -2%
homes.com 150.0 210.0 -29%
realestate.yahoo.com 140.0 160.0 -13%
realetate.msn.com 130.0 110.0 18%

 

 

On a page impressions / visit basis, hotpads has delivered a staggering 26 pages per visit, well a head of century 21 with trulia coming in 3rd place.   Zillow slips all the way to 8th place raising some questions about the level of engagement between visitors and the zillow site.

 

PI/Visit
hotpads.com 26.7
century21.com 19.6
trulia.com 15.5
listingbook.com 14.2
realtor.com 12.9
weichert.com 12.6
homes.com 12.5
zillow.com 11.6
remax.com 9.5
realtytrac.com 9.3
realetate.msn.com 9.3
ziprealty.com 9.1
redfin.com 8.9
caldwellbanker.com 8.3
condo.com 8.3
rent.com 8.3
rentals.com 7.7
apartments.com 7.6
homefinder.com 7.6
foreclosure.com 7.3

 

Finally, when looking at the average session times, realtor.com leads the way reflecting the high levels of listings from around the country.  This is a good indicator for the business, they just need to work out how to drive more traffic to the site if they really want to challenge zillow for leadership.

 

AveTime (min)
realtor.com 14.3
ziprealty.com 12.0
homes.com 11.8
zillow.com 10.8
listingbook.com 10.7
trulia.com 10.7
century21.com 9.8
redfin.com 9.7
weichert.com 9.7
homefinder.com 9.7
apartments.com 9.7
condo.com 9.7
caldwellbanker.com 9.5
hotpads.com 8.8
rent.com 8.8
forrent.com 8.8
remax.com 8.7
rentals.com 8.0
apartmentguide.com 8.0
estately.com 7.3

Simon Baker

June 25, 2012

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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.