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November 13, 2023

Real Estate with Diane Saatchi: Navigating Real Estate Websites

Diane Saatchiby Diane Saatchi
in Real Estate, Trending
Home Real Estate
Real Estate with Diane Saatchi: Navigating Real Estate Websites

Everyone is on the internet nowadays — including home shoppers.

 

And that’s why real estate sites are so popular: They provide up-to-the-minute information on prices, values and listings, school zones and neighborhoods, and surrounding homes and businesses. There’s a lot of information online real estate sites put right up front.

 

Sites tend to make the same claim to customers: They are more transparent than the traditional retail brokerages. They might tell you that you can sell your property faster, at a higher price, for less commission with the same level of service expected of traditional real estate agents. They might offer to buy your house for cash, and to close whenever it suits. Sounds great, right?

 

But I believe there are a few things they aren’t so clear about.

 

I’m not disputing that these sites can be a useful resource and can help consumers to sell and purchase real estate. But some make bold promises, and they aren’t always 100% transparent. Many customers (and even agents) don’t quite understand what they are and are not getting. Like with most things, ambiguity can take wishful thinking to a heightened, and possibly unfortunate, level.

 

Web-based real estate businesses, like traditional brokerages, are in business to make money. Traditional brokerages earn revenue from commissions on sales and rentals. Web-based real estate businesses do the same, as well as earn money in other ways, too. In the interest of transparency, let’s talk about how web-based real estate businesses are monetized.

 

Traditional real estate agency sites

 

Agency sites: Nearly all real estate agencies, and many individual agents and agent teams, have proprietary websites used to present their own listings, market reports, and a variety of community and real-estate related content. Some link to partnering businesses and in some cases to outside advertisers, but in general the agencies pay for the sites, which serve primarily to promote the business of selling and renting their own listings. These sites are the digital version of the multi-page print brochures agencies produce. 

 

Proprietary real estate portals: A portal is a gateway to a collection of related business sites — sometimes considered “one stop shopping” where consumers can search for listings posted by several real estate agencies on one site. Realtor.com, the former HREO.com (Hamptons Real Estate Online) and the many multiple listing services (MLS) are such portals. These portals may be owned by an independent party, but are typically financed by the participating businesses or members. Some supplement costs with advertisements and links to business partners. The print version of these portals are giveaway glossy “magazines” that contain advertisements from many different agencies in an area.

 

And the other sites …

 

Commercial real estate portals: While commercial portals function similarly to those above, their missions are entirely different. Zillow.com and homefinder.com are examples of such portals. Real estate agencies either voluntarily feed data to the sites, pay a fee to be included on the site and in other models the sites may scrape or copy a subset of the data from other sites. 

 

Commercial portals get revenue in several ways. They may sell advertising space alongside listings to agents. The agents paying for promotion by the commercial portals get a ready link to customers wishing information about the associated property. The fee to the agent is typically contracted for a six to 12-month term and is based upon the estimated number of listings assigned, the relative value of the zip code or the number of impressions. Not always, but too often, the agents have never seen the associated listings, and may be unaware that they are assigned to a particular listing until a customer makes contact. 

 

Referral sites: There are oodles of these businesses, which serve to match home sellers and buyers with real estate agents. For the most part, the referral is free to the consumer; the “vetted” real estate agents pay a set fee per term upfront or a percentage of the commission if and when the referral concludes in a closing. The percentages are typically 25-35% of the referred side. Customers should understand that the degree of vetting agents varies from anyone who agrees to pay for the association to requirements for licensure and/or membership to, less commonly, actual review of an agent’s past sales and references.

 

ibuying: An ibuyer is a company that buys and sells homes. In the words of one of the older and popular companies, they offer home sellers a discounted sale price in exchange for the convenience of not having to prepare for a sale, run the risk of buyers backing out, or having to wait for buyers to obtain a mortgage. They present a cash offer and, if accepted, inspect the property. If work is needed they will adjust the offered price accordingly and close the sale at the seller’s convenience. They usually also charge a fee for the purchase. Some work with licensed agents, other do not. There are several such companies and almost as many variations on the ibuying business models. All aim to make the sale quick and easy for the seller. Once owned, the company lists the home for sale. 

 

Another way many of these sites are monetized is through ads paid for by advertisers or for referrals generated from links to partner sites. A common link is a question like: What are your monthly mortgage costs? If you link to such a calculator, in no time your name, and contact information will be available to businesses in two industries: real estate and mortgage lending. Expect to be bombarded with marketing offers via email, texts, and banner ads from them and their partners, and know that your contact information will be sold to other advertisers and marketers. Not necessarily a bad thing, but maybe not what you’d expect.

 

Like everything else the real estate industry has and will continue to change. While progress is often for the best; change is often hard. Customers should be reminded that it’s not easy to sell one’s home — for many reasons. If something sounds too good to be true, it may very well be.

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LOCAL EVENTS

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Family Farm Feeding at The Green School

June 7 @ 10:00 AM - June 7 @ 12:00 PM
287 Merchants Path, Sagaponack, NY 11962
07
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07
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21
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Hamptons Sculpture SIGHTS

June 7 @ 11:00 AM - June 21 @ 04:30 AM
Southampton Arts Center & The Bridgegardens
07
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Mini-Whale Making Workshop with UpSculpt

June 7 @ 12:00 PM - June 7 @ 04:00 PM
2539 Montauk Highway, Bridgehampton, NY 11932
07
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07
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07
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Amalfi’s Waterfront Party Series

June 7 @ 03:00 PM - June 7 @ 10:00 PM
Amalfi, 32 Lighthouse Rd, Hampton Bays, NY
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Decorators-Designers-Dealers (D-D-D) Sale and Auction Benefit Gala

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36 Barkers Island Road, Southampton
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Romany Kramoris Gallery Presents Annual Small Works Holiday Invitational

Romany Kramoris Gallery Presents Annual Small Works Holiday Invitational

  • So many fun events this weekend! ⁠
⁠
Check out the top Hamptons events this weekend!⁠
⁠
🎸 22nd Annual Battle of the Bands⁠
📅 Friday, June 6 | 8PM–11:30PM⁠
📍 Ponquogue Beach, 280 Dune Rd, Hampton Bays⁠
🎶 Five local high school bands compete for great prizes!⁠
📸 Photo: Rob Rich/SocietyAllure.com ©2024⁠
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🛋️ Decorators-Designers-Dealers (D-D-D) Sale & Auction Benefit Gala⁠
📅 Saturday, June 7 | 4PM⁠
📍 36 Barkers Island Rd, Southampton⁠
✨ Silent & wine auctions + high-end home furnishings amid a summer cocktail party.⁠
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🎨 Magical Thinking Exhibition⁠
📅 Saturday, June 7 | 6PM⁠
📍 Keyes Art, 45 Main St, Sag Harbor⁠
🌌 A stunning show exploring the extraordinary through realism.⁠
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🌅 Second Annual Sunset Soirée for Brain Cancer⁠
📅 Saturday, June 7 | 5PM–9PM⁠
📍 Private Estate, East Hampton⁠
💜 Enjoy sunset views and raise awareness for an important cause.⁠
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🐋 Mini-Whale Workshop with UpSculpt⁠
📅 Saturday, June 7 | 12PM–4PM⁠
📍 Bridgehampton Museum, 2539 Montauk Hwy⁠
♻️ Transform marine debris into art while learning about conservation and local history.⁠
⁠
🎧 Amalfi’s Waterfront Party Series⁠
📅 Saturday, June 7 | 3PM–10PM⁠
📍 Amalfi, 32 Lighthouse Rd, Hampton Bays⁠
🍸 Food, cocktails, and DJ sets with a waterfront view.⁠
⁠
🎬 Tony Gilroy In Conversation⁠
📅 Sunday, June 8 | 2PM⁠
📍 Southampton Playhouse, 43 Hill St⁠
🎥 A deep dive into the filmmaker’s suspenseful storytelling—including Andor.⁠
⁠
💃 Gipsy Kings Live at Canoe Place⁠
📅 Sunday, June 8 | 7PM⁠
📍 Canoe Place Inn, 239 E Montauk Hwy, Hampton Bays⁠
🎶 End your weekend with legendary music and energy!⁠
⁠
🌟 Tony Awards Screening & Red Carpet at Guild Hall⁠
📅 Sunday, June 8 | 8PM⁠
📍 Guild Hall, 158 Main St, East Hampton⁠
🎭 Watch the 78th Tony Awards LIVE from Radio City in red carpet style!⁠
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#hamptonsevents #battleofthebands #tonyawards #eastendart #hamptonssummer2025 #livemusic #artexhibition #fundraiserevent #guildhall #canoeplace #sagharbor #easthampton #southampton #hamptonbays
  • 7 Lee Lane, Wainscott, NY 11975⁠
Saunders Exclusive: $8,875,000⁠
@hamptonsrealestate⁠
@vinceinthehamptons⁠
@paramountdevelopmentgroup⁠
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Ready for immediate occupancy and fully furnished. Stunning new construction from renowned Hamptons Paramount Development Group, South of the Highway in Wainscott.⁠
⁠
Sited on a flag lot off the end of a cul-de-sac and surrounded by scenic easement, this brand-new home has 7,366 +/- sq. ft. of living space on 3 levels with 7 bedrooms, 7.5 baths, an attached 2-car garage, and heated saltwater pool with an optional pool house.⁠
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Seamless luxury inside and out is woven together for enviable entertaining and everyday, effortless comfort. Interiors are bright and inviting, filled with natural light throughout the contemporary open-concept floorplan.⁠
⁠
The elevated primary suite has its own private balcony and a luxe bath. Additional bedrooms are spacious and comfortable, sure to impress your friends and guests.⁠
⁠
Ready for everyday luxury living, the finished lower level includes a home gym, 2 bedrooms, a full bath, a recreation room, and sauna.⁠
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Easy indoor-outdoor living awaits as you dine al fresco in the backyard with an outdoor kitchen, lounge in the sun by the 20’x40′ heated, saltwater pool and wash off after a day at the beach with an outdoor shower.⁠
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Positioned perfectly just off the iconic Georgica Pond and surrounding estates, plus the world-class ocean beaches and the countless charms of Wainscott Village.⁠
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#newconstruction #hamptons #luxuryrealestate #wainscott #hamptonsrealestate
  • The reopening of the Sunset Theater marks a new chapter for a historically cherished cultural venue in Westhampton Beach, originally built in 1927. After what Founder and Managing Director Inge Debyser described as an extensive three-year renovation, the beloved movie theater officially reopened its doors at 2 Brook Road on Friday, April 25.⁠
@sunset.theater.whb⁠
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Read the full article at Hamptons.com (Link in Bio)⁠
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#sunsettheater #hamptons #westhamptonbeach #movies #film
  • Kicking off Memorial Day weekend, The HUB—short for Health, Unity, and Beauty—launched its summer season with an impressive soirée on Friday. ⁠
⁠
Founders Michael Catalano and Toni DeMauro, along with creative and event leads Alex Vinash and Billy Folchetti, welcomed 300 Hamptonites into the magic of their bold new project.⁠
@hub_hamptons⁠
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Check out the full gallery at Hamptons.com (Link in Bio)⁠
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📸: Rob Rich/SocietyAllure.com⁠
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#hamptons #thehub #fashion #recreation #bridgehampton
  • Check out the Top Hamptons Events This Weekend!⁠
⁠
🍻 Back to the Bays x Kidd Squid: Brew for the Bay Release Party!⁠
📅 Friday, May 30, 2025⁠
🕓 5pm
📍 Kidd Squid Brewery, 11 Spring St, Sag Harbor, NY⁠
⁠
Join us as we toast to conservation! 🌊🍺 Proceeds support marine restoration through @ccemarine Back to the Bays Initiative.⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
🎶 Sunset Serenades: A Hamptons Summer Celebration⁠
📅 Fri, May 30th -31st
🕖 7pm⁠
📍 Various Hamptons Venues⁠
⁠
An intimate concert featuring TH·FM’s Salon Orchestra, soprano Greer Lyle & more — conducted by Logan Souther. 🌅🎻⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
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🏆 Celebrate Local Legends: Howard & Kenny Wood⁠
📅 Fri, May 30, 2025⁠
🕔 5pm⁠
📍 The Clubhouse, 174 Daniels Hole Rd, East Hampton, NY⁠
⁠
Join the party honoring Suffolk County Hall of Fame icons! 🎉⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
🍍 Talkhouse Encore Launch Party⁠
📅 Sat, May 31, 2025⁠
🕒 3pm – 6pm⁠
📍 The Stephen Talkhouse, Amagansett, NY⁠
⁠
FREE entry, tequila pineapple cocktails, music, bites & giveaways! 🍹🎶⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
🧱 CMEE’s 8th Annual Block Party⁠
📅 Sat, May 31, 2025⁠
🕙 10am – 12pm⁠
📍 CMEE, Bridgehampton, NY⁠
⁠
A FREE morning of crafts, rockets, chalk art & summer camp samplings! 👧🧒🎨⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
😂 Saturday Night Comedy at Sticks X Stones⁠
📅 Sat, May 31, 2025⁠
🕗 8pm⁠
📍 Sticks and Stones Comedy Club, Southampton, NY⁠
⁠
NYC’s top comedy club talent hits the Hamptons! 🎤🤣⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
🎬 Sunset Theater: Karate Kid: Legends⁠
📅 Opens Fri, May 30, 2025⁠
🕐 Various Times⁠
📍 Sunset Theater, Westhampton Beach, NY⁠
⁠
Don’t miss the latest chapter in the Karate Kid saga! 🥋⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
🍰 Afternoon Tea at The Baker House 1650⁠
📅 Sun, June 1, 2025⁠
🕝 1:30pm – 4pm⁠
📍 181 Main St, East Hampton, NY⁠
⁠
Enjoy champagne, sweets & elegant tea service in a historic setting. ☕🍾⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
⁠
Check out more events at Hamptons.com⁠
⁠
#hamptons #weekend⁠
  • Nearly two years after its debut, El Verano offers a taste of upscale Mexican cuisine in a setting inspired by the charm of vacation summer homes in Mexico. Customers enter a vibrant space filled with beautiful greenery and colorful decor as they enjoy dishes rooted in the heritage of acclaimed chef Julian Medina.⁠
⁠
Medina grew up in Mexico City, where his love for cooking first began. In pursuit of his career, he moved to New York City, where he graduated from the French Culinary Institute. Noticing a lack of refined Mexican dining in Southampton, Medina created El Verano to bring the bold flavors of his roots to the area. Blending Mexican coastal charm with rich culinary traditions, El Verano brings something new to the Southampton dining scene.⁠
⁠
Medina shared some of his signature dishes, journey through the cooking field, and highlighted El Verano’s fresh and locally sourced ingredients that shape each creation.⁠
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Read the interview at Hamptons.com (Link in Bio)⁠
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#elverano #dining #southampton #mexicancuisine
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