“I hadn’t thought of it in terms until you asked, but if we can pick up another 20 percent or 25 percent in Internet lead generation business, I would be thrilled,” said Niederman, the CEO of Kentwood Real Estate, who announced today that the residential real estate brokerage company had bought Denver.com.
Two years ago, Niederman bought Boulder.com and also owns DenverRealEstate.com.
“Now, I’m not saying that our sales are going to rise by 25 percent, but I do think it is not unreasonable that we might see that kind of Internet lead generation increase because of Denver.com.”
As previously reported by InsideRealEstateNews.com, Kentwood bought Denver.com from Boulevards New Media Inc.. Boulevards owns many city names, including Seattle.com, San Francisco.com and Los Angeles.com.
Niederman has wanted to get his hands on Denver.com for the past two years. The amount he paid was not disclosed, but a trade journal described it as a “seven-figure deal,” which would mean it sold for at least $1 million. Boulevards paid $6,250 for it in 1996. Kentwood sold more than $1 billion in homes last year and expects to sell as much as $1.4 billion this year.
“Truly, I am bringing it home,” Niederman said. “I think that Dan Pulcrano (CEO of Boulevards) understands it is nice to have the ownership in your backyard. He was a true gentleman and a pleasure to work with.”
Kentwood has a multiyear contract to continue to work with Boulevards.
Niederman said that owning the online name of a city is a rare event.
“It’s a once-in-a-lifetime opportunity,” he said. “I think it is a real coup. If the National Association of Realtors is correct, and 94 percent of all buyers start their search on the Internet, you want to own those key phrases that they will search. In my mind, there is no better keyword phrase than Denver.com. That’s true in any city. If you were in Chicago, you would want to own Chicago.com.”
Niederman said that when he made the announcement to his company’s three offices — the Kentwood Co. in the Denver Tech Center, the Kentwood Co. at Cherry Creek and Kentwood City Properties in downtown — brokers were thrilled.
One of them was Tom Cryer, a broker in the Tech Center office.
“When Peter sent out a group email to all the brokers today, I replied by saying: “Well done, Peter.
“What is to dislike about it? It is I just think it is a great thing,” Cryer continued. “Ultimately, this is going to drive more traffic to us. As fast as information is moving to mobile integration, Denver.com will be a natural for people searching on their phones. It’s all about SEO, man.”
SEO, or search engine optimization, is using keywords to improve visibility on the web.
Cryer said Denver.com is a big step in increasing SEO for brokers at Kentwood, which he said will give him and other brokers at Kentwood a competitive edge.
“One thing that Peter has been really striving for is having Kentwood being found organically,” Cryer said. “Just having DenverRealEstate.com has increased our page view growth substantially. So I can just imagine what Denver.com will do.”
Niederman said that he thinks Denver.com will not only help his real estate business, but also will provide a platform to get the word out about many aspects of living in Colorado.
“I can see using it to provide information about cultural attractions, sports, entertainment and tourism. There ultimately will be a big lifestyle component to it.”