Real Estate Web Analytics

Our house has been on the market six days. Earlier this week, my Realtor hosted an open house for area Realtors. We had 12 real estate professionals visit the home, and I am told that is a very nice number for this kind of event. The feedback on our home both in terms of price and condition was positive.

Now my next question, Edina Realty provides homeowners basic web analytics, but why am I not provided some benchmarks? Here are my private home seller's stats:

1. Number of times my home's "details" page was viewed: 478
2. Number of times my home has been saved as a favorite: 3

Note: Results ignore today's data.

Expanding upon my question. Item #2 is the equivalent of a web analytics conversion. Being saved as a favorite is a desired action. However, with respect to items #1 or #2, just giving me actual numbers is meaningless. Without a frame of comparison, I don't know how to interpret these numbers. Here is what I would really like to know (i.e. benchmarks):

• What is the average "details" curve for a house in my area with similar price points?
• What is a normal conversion to "saved as favorite"?

Edina Realty should have this data. It would be nice for the customer to also see this information. For instance, if I have a strong viewing details and a favorites conversion number compared to the average ... and we are also experiencing good traffic through the home (i.e. showings of the home), then I would know my house is being effectively marketed and my price point is well received by the market.

Without the benchmark data, I just have a number. The number 478 is meaningless w/o this information. Good start, Edina Realty, but more work required to have effective analytics.

(click to maximize my data given below)

And always, what it's all about ... our house!

• The Movie
• Still Photographs

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See other posts: Selling a House in a Lousy Economy

Comments

[Teresa boardman]

Rich I rarely leave comments on blogs, not even a sentence. I was honestly curious and so I asked. No I don't proved search engine data and bench marks for the traffic my listings get o the Edina realty web site. I am not sure I understand the meaning of the numbers and no one has ever asked for the.

Response from Rich: Fair enough! I know we were both featured in a online article by a Duluth based web 2.0 marketing firm. I'll let everyone know, including you what additional data I get, if any. Thanks for the comments.

[Teresa boardman]

Have you asked for additional data?

Response from Rich: "Yes, but so far that additional analytics data has not been forthcoming (i.e. anonymous benchmarks). I'm not certain Edina Realty is used to working with a super techie customer like me.

I have a question for you ... it's easy to leave a one sentence comment on my blog. You are a real estate professional on the other side of the metro (St. Paul). What do you provide for your clients in terms of analytics? Do you provide similar search engine data "with" benchmarks? I'll contact you privately via email, and give you the opportunity to show me what you do ... as long as I can take screenshots during the virtual meeting and post it back to NorthstarNerd.Org. Thanks.

[Jim Lattin]

Very interesting and thoughtful (as always). Did you ever contemplate asking these questions *before* choosing a real estate agent? Also, I wonder to what extent your numbers are contaminated by your web presence (i.e., blog, Facebook, etc.). At the very least, you probably need to "correct" your web traffic to account for out-of-state visitors (like myself) who are merely curious about your home-selling exploits but not serious potential buyers.

Good luck!