Zillow is having a two-day bash in Las Vegas for its Premier Agents, and 1,000 of the 60,000 PAs are attending. It will take a miracle for realtor.com to get back in the game now – look at how Zillow is pulling away:
Zillow Chief Marketing Officer Amy Bohutinsky reiterated Zillow’s commitment to mass-market advertising, particularly TV advertising, stating that they’re on track to spend $75 million this year to build an “enduring brand that resonates with consumers, their children and their grandchildren for years to come.”
Before their TV campaign started 18 months ago, Bohutinsky said that one-third of visits to a real estate website started with Zillow. Today, that number is 50 percent, largely as a result of their TV exposure.
Is News Corp and realtor.com going to spend $100,000,000 per year on TV advertising to get back in the fight? If so, they better start spending it today!