Trulia is launching a lender co-marketing program today that gives agents the ability to get more bang for the buck out of their ad spend with the portal, by letting mortgage lenders take on some of their expenses in exchange for shared exposure.
In exchange for taking on a portion of an agent’s advertising spend on Trulia, lenders will get exposure on that agent’s profile page as well as on his or her exclusive Trulia listings. The co-marketing program guarantees the agent’s lender partner exposure, but not referrals from the agent.
Like Trulia’s new program, agents can invite lenders to share their advertising costs on Zillow in exchange for being featured on the agent’s Zillow profile page and the agent’s enhanced listings.
An agent and a lender can share up to 50 percent of an agent’s new advertising spend on Trulia. The frequency with which the lender will appear with the agent’s profile and listings is proportional to the lender’s spend relative to the agent’s.
“Agents and lenders who co-market together gain additional exposure while also providing both home search and financing services to new clients they meet on Trulia,” said Dan Hang, vice president of business products at Trulia, in a statement.
Lenders can partner with multiple agents and receive leads in the markets they co-market in from consumers who request a loan prequalification.
Zillow, which is set to acquire Trulia sometime in 2015 if the proposed deal passes regulatory hurdles, rolled out a similar lender co-marketing program in June 2013.
Like Trulia’s program, the co-marketing deal guarantees exposure for partner lenders, but not leads. Zillow reported a record-high average monthly revenue of $320 per agent subscriber in the second quarter that some attributed to the program gaining traction.