Understanding the Real Estate Consumer Journey - geste.fr · Real Estate | FR Google Confidential...

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Google Confidential and Proprietary 1 Google Confidential and Proprietary 1 Real Estate | FR Source: Nielsen NetView France January-June 2013 Understanding the Real Estate Consumer Journey Clickstream Research into Real Estate 2013 France

Transcript of Understanding the Real Estate Consumer Journey - geste.fr · Real Estate | FR Google Confidential...

Google Confidential and Proprietary 1 Google Confidential and Proprietary 1 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Clickstream Research into Real Estate – 2013 France

Google Confidential and Proprietary 2 Google Confidential and Proprietary 2 Real Estate | FR Source: Nielsen NetView France January-June 2013

Executive Summary

SEARCH

Search is an important part of the customer journey. 77% use search at anytime

throughout their online journey. Usage highest amongst those that convert (88%)

and amongst those that are looking to rent (74%)

January-June 2013

20.5m are active in the online Real Estate market, with those purchasing attracting

the largest number of visitors

GENERIC

Nearly two thirds (67%) of searchers conducted Generic searches accounting with

those looking for New Homes being the most likely to use Generic terms (76%).

54% of those that convert when looking to buy use Generic terms up to their first

conversion, the highest compared to conversion in other sub segments

Those that use sponsored search are 1.5 times as likely to make a conversion than

the average user in the Real Estate market

This increases to 1.8 times as likely when looking at the those that convert within

Purchase

Those YouTube users quoting or converting in the online Real Estate market visit

YouTube more frequently than the average YouTube user

Google Confidential and Proprietary 3 Google Confidential and Proprietary 3 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: All those in the Real Estate market 2011 v 2013

Note: Audience by sub segment in the Real Estate market. New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New

Homes Purchase’

Key Metrics | 2013 v 2011

Total Purchase Rent Sell Out

2011 2013 2011 2013 2011 2013 2011 2013

Unique Audience

(000s) 19,552,959 20,510,168 16,317,116 17,736,381 11,663,534 11,110,145 2,759,637 4,620,631

Time Per Person 2:41:21 2:40:00 2:22:08 2:19:11 1:57:25 1:55:25 0:15:20 0:28:59

Average Journey

Length (Days) 74.1 75.4 66.8 69.2 59.8 53.7 20.0 26.1

Sites Per Person 5.5 5.1 4.9 4.4 4.0 3.5 2.0 2.2

Site Visits Per

Person 23.9 21.3 20.2 17.7 15.0 13.2 3.2 3.6

Google Confidential and Proprietary 4 Google Confidential and Proprietary 4 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Methodology and Definitions

Google Confidential and Proprietary 5 Google Confidential and Proprietary 5 Real Estate | FR Source: Nielsen NetView France January-June 2013

• Custom analysis of Nielsen's NetView metered panel

Period of analysis: January-June 2013

• Analysis based on:

– Only Internet users that visit the pre-defined NetView Category: Real Estate included

– Recoded to Google classification criteria

– visits of selected sites (research), information, quotation or conversion on selected sites (Real

Estate websites and Real Estate sections of e.g. online newspapers) included

– An event can only happen once in a single site/session, this avoids double-counting occasions

where a conversion involves multiple URLs

– A start event is determined as the first Real Estate related activity in the period of analysis

– Up to 1st event: Activity analysed between start and 1st event i.e. Conversion

– Analysis restricted to Adults 21+

– Both search (i.e. Search on Search Engines) and research i.e. visitation to product pages is

recorded within this analysis

– Unique search terms categorised according to Google’s classification structures (Brand Only

Terms, Brand with Other, Generic)

– Referrals to data set are also included to identify non-search clickthroughs

– Analysis within the report excludes Applications

Methodology

Google Confidential and Proprietary 6 Google Confidential and Proprietary 6 Real Estate | FR Source: Nielsen NetView France January-June 2013

Methodology: Key

Product Segmentation

Inte

rnet U

ser

Segm

enta

tion

2 separate segmentations included within the analysis: Sample Sizes Shown

Anyone who has not made a Conversion or Quotation event

but has made a valid property search or viewed details of

a property

Research Quotation Information

Anyone who has not performed a Conversion, Quotation or

Information event

Anyone who has not made a Conversion

event but has asked for a quote, requested a brochure or created

an account

Conversion

Anyone who has posted an ad, clicked

on a contact form, printed or send

details to a friend

Internet User Segmentation | Definition

Total Purchase Rent Sell Out Rent Out New Homes

Purchase* Investment*

Total 5,928 5,136 3,173 1,317 387 659 208

Conversion 1,483 761 493 488 307 12

Quotation 746 729 123 201 12 86 13

Information 3,623 3,554 2,536 529 61 540 184

Research 76 92 21 99 7 21 11

*Note: New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes

Purchase’

Analysis on sub segments indicated in sample by italics are to small to report on and are not included within the report

Google Confidential and Proprietary 7 Google Confidential and Proprietary 7 Real Estate | FR Source: Nielsen NetView France January-June 2013

Real Estate | FR Sample Size: 5,928

Please note: Only Real Estate related activity is included

Methodology: Key

Category: Site Designations

Classifieds

(Multi-cats) Leboncoin.fr

• Category Referral = clicked link from

another website

• Non-category referral = clicked link from

another website which is not Real Estate

related or search

• Natural Search = SEM clickthroughs from a

search engine

• Sponsored search = PPC clickthroughs

from a search engine

• Direct = No referral route information was

obtained. It may be from bookmark, history,

typed URL in address bar, or a link from

another PC application.

Definitions

RealEstate

Classifieds SeLoger.com

Maps Google Maps

Networks ORPI

Information Meilleurs

Agents

Press ouestfrance-

immo

Home/Property

Loan Meilleurtaux.com

Credit Immo

New Homes immoneuf.com

Tax

Exemption Nexity

Investissement

Immobilier

Google Confidential and Proprietary 8 Google Confidential and Proprietary 8 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Market Profile

Google Confidential and Proprietary 9 Google Confidential and Proprietary 9 Real Estate | FR Source: Nielsen NetView France January-June 2013

20.5m are active in the Real Estate online market, with those purchasing

[buying a home] attracting the largest number of visitors

Base: All those in the Real Estate market

Note: Audience by sub segment in the Real Estate market. New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New

Homes Purchase’

Real Estate: 20,510,168

Unique Audience (000s)

86%

% of Real

Estate Market

54%

12%

7%

4%

23%

17 736 381

11 110 145

4 620 631

2 518 529

1 417 698

768 422

Purchase

Rent

Sell Out

New HomesPurchase

Rent Out

Investment

Google Confidential and Proprietary 10 Google Confidential and Proprietary 10 Real Estate | FR Source: Nielsen NetView France January-June 2013

Conversion

5,207,104

Quotation

2,606,529

Information

12,444,402

Research

252,132

25%

13%

61%

1%

Real Estate: 20,510,168

61% gather information e.g. view property details, 13% get a quote e.g. request

a brochure, and 25% convert e.g. click on contact form

Base: All those in the Real Estate market

Note: Type of activity in the Real Estate market. Segments are hierarchical and mutually exclusive. Percentages may not add up to 100% due to rounding

Google Confidential and Proprietary 11 Google Confidential and Proprietary 11 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: Those who gather information in the Real Estate market

Note: Audience Overlap by sub segment in the Real Estate market. New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and

‘New Homes Purchase’

Unique Audience | Overlap

Purchase Rent Sell Out Rent OutNew Homes

PurchaseInvestment

Purchase 17,014,532 8,489,490 2,077,127 299,662 2,326,509 705,545

Rent 8,489,490 10,990,557 1,420,575 308,815 1,336,006 494,808

Sell Out 2,077,127 1,420,575 2,575,375 108,264 603,311 202,751

Rent Out 299,662 308,815 108,264 351,873 101,888 45,816

New Homes Purchase 2,326,509 1,336,006 603,311 101,888 2,326,509 705,545

Investment 705,545 494,808 202,751 45,816 705,545 705,545

Purchase 100% 50% 12% 2% 14% 4%

Rent 77% 100% 13% 3% 12% 5%

Sell Out 81% 55% 100% 4% 23% 8%

Rent Out 85% 88% 31% 100% 29% 13%

New Homes Purchase 100% 57% 26% 4% 100% 30%

Investment 100% 70% 29% 6% 100% 100%

% A

ud

ien

ceA

ud

ien

ce

Information

Google Confidential and Proprietary 12 Google Confidential and Proprietary 12 Real Estate | FR Source: Nielsen NetView France January-June 2013

Different Real Estate activity drives different behaviour e.g. a lower proportion

convert amongst purchasers compared to sellers

Base: Those visiting sub segments within the Real Estate market

Note: Type of activity by sub segment in the Real Estate market; New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and

‘New Homes Purchase’ Figures may not add up to 100% due to rounding

Research

Quotation

Information

Conversion

2% 1% 7% 2% 3% 6%

69% 80%

40%

16%

82% 88%

15% 4%

16%

3%

14% 6%

15% 15%

37%

78%

2%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Google Confidential and Proprietary 13 Google Confidential and Proprietary 13 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those in the online Real Estate market follow the internet population profile in

terms of age and gender

Base: All those in the Real Estate market

Note: Profile of those that gather information, get a quote or convert within the Real Estate market; Figures: Profile %

1 2 4 6 Age

Profile % 3

2

3

Women

Conversion 55%

Quotation 47%

Total Real Estate 51%

1 = Men

2 = Women

Internet Profile 50%

Information 50%

1 = 21-34

2 = 35-49

3 = 50-64

4 = 65+

21-49

Conversion 66%

Quotation 62%

Information 57%

Total Real Estate 60%

Internet Profile 58%

1 4

Gender Profile %

1

2

Google Confidential and Proprietary 14 Google Confidential and Proprietary 14 Real Estate | FR Source: Nielsen NetView France January-June 2013

1 = 21-34

2 = 35-49

3 = 50-64

4 = 65+

Those who convert in the online Real Estate market, however, are more likely to

be women and aged 21-49

Base: All those in the Real Estate market

Note: Profile of those that gather information, get a quote or convert within the Real Estate market; Figures: Profile %

1 2 4 6 Age

Profile % 3

1

2

3

4

Gender Profile %

1

2

1 = Men

2 = Women

21-49

Conversion 66%

Quotation 62%

Information 57%

Total Real Estate 60%

Internet Profile 58%

Women

Conversion 55%

Quotation 47%

Total Real Estate 51%

Internet Profile 50%

Information 50%

Google Confidential and Proprietary 15 Google Confidential and Proprietary 15 Real Estate | FR Source: Nielsen NetView France January-June 2013

1 = Silver surfer (50+)

2 = Other

Silver Surfers in the Real Estate market are more likely to gather information

than get a quotation or convert

Silver Surfer

Conversion 34%

Quotation 38%

Information 43%

Total 40%

Internet Profile 42%

50+ Profile %

1

2

Base: All those in the Real Estate market

Note: Profile of those that gather information, get a quote or convert within the Real Estate market; Figures: Profile %

Google Confidential and Proprietary 16 Google Confidential and Proprietary 16 Real Estate | FR Source: Nielsen NetView France January-June 2013

Different genders drive different online Real Estate behaviour e.g. women are

more likely to get quotations when wanting to rent a property but less likely to

get quotations when renting out properties online

Women | Profile %

Quotation

Information

Conversion

50%

50

%

54%

52%

48%

48%

49%

47%

49%

64%

39%

51%

55%

53%

59%

54%

58%

Total Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Total | 51%

Base: Those visiting sub segments within the Real Estate market

Note: Women (gender) profile of those that gather information, get a quote or convert within Real Estate sub segments; Figures: Profile %

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Google Confidential and Proprietary 17 Google Confidential and Proprietary 17 Real Estate | FR Source: Nielsen NetView France January-June 2013

21-49s are more likely to convert across all sub segments within Online

Real Estate

21- 49 | Profile %

Base: Those visiting sub segments within the Real Estate market

Note: Age 21-49 profile of those that gather information, get a quote or convert within Real Estate sub segments; Figures: Profile %

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

57%

57%

64%

58%

61%

58%

64%

62%

67%

47%

60%

59%

66%

68%

65%

68%

63%

Total Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Total | 60%

Quotation

Information

Conversion

Google Confidential and Proprietary 18 Google Confidential and Proprietary 18 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

The Journey

Google Confidential and Proprietary 19 Google Confidential and Proprietary 19 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that look convert are the most active in the online Real Estate market, visiting more sites per person and conducting more searches

Base: All, those that gather information, get a quote or convert within in the Real Estate market

Note: Activity of All versus Information, Quotation and Conversion in the Real Estate market

*Based on Top entry channel

Sites

per

person

Searchers

(%)

Searches

Per

Searchers

% of searchers

that use Generic

Terms

1st Entry Point

in Journey* (% of those concerned

by this behaviour)

1st Entry Point

in Event

Session* (% of those concerned

by this behaviour)

Total 5.1 77% 14.2 67% Google

Search

Google

Search

Information 3.3 72% 6.4 62% Google

Search

Google

Search

Quotation 7.3 83% 13.7 77% Google

Search

Google

Search

Conversion 8.5 88% 29.6 71% Google

Search

Classifieds

(Multi Cat)

Those that get a quote are more likely to use generic

terms than those who gather information or convert

Google Confidential and Proprietary 20 Google Confidential and Proprietary 20 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those looking to buy [Purchase] tend to be more active compared to the visitors of other sub segments

Base: Those visiting sub segments within the Real Estate market

Note: Activity of all in the Real Estate market. Highest and Lowest sub segment shown

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Avg. Journey (Days)

Purchase

Rent Out

69.2 days

15.8 days

Searchers (%)

Rent

Rent Out

74% search

56% search

Searches per searcher

Purchase

Investment

12.3 searches

2.7 searches

% of searchers that use Generic terms

New Homes Purchase

Rent Out

76% of searchers

28% of searchers

New Homes Purchase

Rent Out

67% of searchers

23% of searchers

% of searchers whose very first search term is Generic

Total

L

H

Sites per Person

Purchase

Rent Out

4.4 sites

1.7 sites L

H

L

H

L

H

L

H

L

H

H = Highest

L = Lowest

Time Spent per Person

Purchase

New Homes Purchase

2 hrs 19 mins 11 secs

21 mins 51 sec L

H

Google Confidential and Proprietary 21 Google Confidential and Proprietary 21 Real Estate | FR Source: Nielsen NetView France January-June 2013

74%

73%

73%

73%

68%

56%

57%

60%

76%

63%

70%

28%

Rent Investment New HomesPurchase

Purchase Sell Out Rent Out

Searchers (%)

Searchers who use Generic Terms (%)

Base: Those visiting sub segments within the Real Estate market

Note: Activity of all in the Real Estate market.

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

4,4

3,5

2,4

2,2

1,8

1,7

12,3

9,5

4,6

3,7

2,7

2,8

Purchase Rent New HomesPurchase

Sell Out Investment Rent Out

Sites Per Person Searches Per Searchers

Those looking to buy [Purchase] tend to visit more sites [4.4] but those that are looking to rent are more likely to search [74%]

Google Confidential and Proprietary 22 Google Confidential and Proprietary 22 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that get quotes are more likely to use Generic terms

up to their first quotation

Sites

per

person

Avg.

Journey

(Days)

Searchers

(%)

Searches

Per

Searchers

% of searchers

that use

Generic Terms

Up To Information 1.4 1.3 55% 1.6 48%

Up To Quotation 4.1 32.3 71% 6.4 68%

Up To Conversion 4.4 42.1 75% 10.8 53%

Base: Those that gather information, get a quote or convert within in the Real Estate market

Note: Activity for Information, Quotation and Conversion in the Real Estate market UPTO the first event

On average 4 sites are visited and 11 searches per

searcher are conducted before the first Conversion

Google Confidential and Proprietary 23 Google Confidential and Proprietary 23 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that are looking to sell are most likely to search and use generic terms before the first visit to an information page

Avg. Journey (Days)

Purchase

Rent Out

Sites per Person

Sell Out

Rent Out

1.4 days

0.004 days [6 mins]

1.5 sites

1.3 sites

Searchers (%)

Sell Out

Purchase

75% search

52% search

Searches per searcher

New Homes Purchase

Rent Out

2.1 searches

1.7 searches

% of searchers that use Generic terms

Sell Out

Purchase

91% of searchers

42% of searchers

Base: Those that gather information in the sub segments of the Real Estate market.

Note: Activity for those that gather Information within the Real Estate sub segments UPTO the first event. Highest and Lowest sub segment shown

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Up To Information

L

H

L

H

L

H

L

H

L

H H = Highest

L = Lowest

Google Confidential and Proprietary 24 Google Confidential and Proprietary 24 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that are looking to rent are most active: visiting more sites and are more likely to searching before the first visit to a quotation page

Avg. Journey (Days)

Rent

Sell Out

Sites per Person

Rent

Sell Out

41.2 days

4.6 days

4.0 sites

1.8 sites

Searchers (%)

Rent

Sell Out

84% search

53% search

Searches per searcher

Rent

New Homes Purchases

10.1 searches

2.8 searches

% of searchers that use Generic terms

Sell Out

Purchase

78% of searchers

68% of searchers

Base: Those that get a Quotations in the sub segments of the Real Estate market.

Note: Activity for those that Quotations within the Real Estate sub segments UPTO the first event. Highest and Lowest sub segment shown

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Up To Quotation

L

H

L

H

L

H

L

H

L

H H = Highest

L = Lowest

Google Confidential and Proprietary 25 Google Confidential and Proprietary 25 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that are looking to buy are more active, spending longer in the market, visiting more sites and conducting more searches per person before converting

Avg. Journey (Days)

Purchase

Rent Out

Sites per Person

Purchase

Rent Out

46.8 days

1.2days

4.9 sites

1.5 sites

Searchers (%)

Purchase

Rent Out

79% search

45% search

Searches per searcher

Purchase

Rent Out

12.5 searches

2.0 searches

% of searchers that use Generic terms

Purchase

Rent Out

54% of searchers

10% of searchers

Base: Those that convert in the sub segments of the Real Estate market.

Note: Activity of those that convert within the Real Estate sub segments UPTO the first event. Highest and Lowest sub segment shown

Up To Conversion

L

H

L

H

L

H

L

H

L

H H = Highest

L = Lowest

Google Confidential and Proprietary 26 Google Confidential and Proprietary 26 Real Estate | FR Source: Nielsen NetView France January-June 2013

Key Metrics | By Product Segment

Average Journeys (Days) | Up To First Event

1,4

0,1

0,8

0,0

0,1

0,0

33,0

41,2

4,6

11,6

46,8

38,6

4,4

1,2

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Sites per person | Up To First Event

1,4

1,4

1,5

1,3

1,4

1,5

4,0

4,0

1,8

2,1

4,9

3,7

1,7

1,5

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Base: Those that gather information, get a quote or convert within sub segments in the Real Estate market

Note: Activity for Information, Quotation and Conversion within the Real Estate sub segments UPTO the first event

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Up To Quotation

Up To Information

Up To Conversion

Google Confidential and Proprietary 27 Google Confidential and Proprietary 27 Real Estate | FR Source: Nielsen NetView France January-June 2013

Key Metrics | By Product Segment Searchers (%) | Up To First Event

52%

59%

75%

63

%

64

%

68%

70%

84%

53%

72%

79%

71%

51%

45%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Searches by Searcher | Up To First Event

1,7

1,7

1,8

1,7

2,1

1,9

6,0

10,1

2,8

2,8

12,5

9,3

2,3

2,0

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Up To Quotation

Up To Information

Up To Conversion

% of Searchers who use Generic Terms | Up To First Event

42%

44

% 91%

64%

70%

47%

68

%

70%

78%

72%

54%

46%

21%

10%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Base: Those that gather information, get a quote or convert within sub segments in the Real Estate market

Note: Activity for Information, Quotation and Conversion within the Real Estate sub segments UPTO the first event

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Google Confidential and Proprietary 28 Google Confidential and Proprietary 28 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: Those that gather information, get a quote or convert within the Real Estate market

Note: The first entry point of those that gather information, get a quote or convert; An entry point is defined as the first relevant content page visited, however if this is referred from

another web page the referring page is used. The most likely entry relevant category is shown for both the very first relevant content page.

Quotation Information Conversion

45%

15%

12%

7%

3%

Google Search

Classifieds (MultiCat)

RealEstateClassifieds

Other: Search

Other: MemberCommunities

40%

10%

8%

6%

5%

Google Search

RealEstateClassifieds

Classifieds (MultiCat)

Quotation

Other: E-mail

41%

31%

7%

6%

3%

Google Search

Classifieds (MultiCat)

RealEstateClassifieds

Other: Search

Other: E-mail

Top 5 First Entry Points Audience (%)

Google Search is important at the start of the journey - the first entry point

into the market regardless of activity is via Google Search

Google Confidential and Proprietary 29 Google Confidential and Proprietary 29 Real Estate | FR Source: Nielsen NetView France January-June 2013

Google Search is a primary entry point for into the category for all activity

across sub segments but is superseded by Classifieds (multi-cat) when to

comes to conversions for those that are looking to sell or rent out

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market .

Note: First entry point of events; An entry point is defined as the first relevant content page visited, however if this is referred from another web page the referring page is used. The

most likely entry relevant category is shown for both the very first relevant content page.

First Entry Points

Information Conversion Quotation

First entry point is the same

in all sub segments:

Google Search Google Search

First entry point is the same

in all sub segments:

Google Search

First entry point for

Purchase & RENT is:

Classifieds (Multi-Cat)

For SELL OUT & RENT OUT it

is:

Google Confidential and Proprietary 30 Google Confidential and Proprietary 30 Real Estate | FR Source: Nielsen NetView France January-June 2013

The first touch point in the event session is Google Search except for

conversions where Classifieds (multi-cats) is also predominant

Base: Those that gather information, get a quote or convert within the Real Estate market

Note: The entry points within event session of those that gather information, get a quote or convert; An Entry Point is defined as the first relevant content page visited,

however if this is referred from another web page the referring page is used. Based on the session when the event occurred

Information Conversion

47%

15%

12%

7%

3%

Google Search

Classifieds (MultiCat)

RealEstateClassifieds

Other: Search

Other: MemberCommunities

39%

13%

12%

7%

6%

Google Search

Home/Property Loan

Quotation

RealEstateClassifieds

Other:Directories/Local

Guides

39%

39%

6%

4%

4%

Classifieds (MultiCat)

Google Search

Other: Search

Other: E-mail

RealEstateClassifieds

Top 5 Event Session Entry Points Audience (%)

Quotation

Google Confidential and Proprietary 31 Google Confidential and Proprietary 31 Real Estate | FR Source: Nielsen NetView France January-June 2013

The first touch point in the event session is Google Search across all

sub segments except for conversion in Rent, Sell Out & Rent Out

where Classified (multi-cats) lead

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Top 2 entry points within the event session of those that gather information, get a quote or convert; An Entry Point is defined as the first relevant content page visited,

however if this is referred from another web page the referring page is used. Based on the session when the event occurred.

Event Session Entry Points

Information Conversion Quotation

First entry point is the same

in all sub segments:

Google Search Google Search

First entry point is the same

in all sub segments:

Classifieds (multi-cat)

First entry point is the same

in all sub segments:

except for:

Purchase

Google Search

where the top entry point is:

Google Confidential and Proprietary 32 Google Confidential and Proprietary 32 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Search

Google Confidential and Proprietary 33 Google Confidential and Proprietary 33 Real Estate | FR Source: Nielsen NetView France January-June 2013

Searchers (%)

Up to Conversion 75%

Up to Quotation 71%

Up to Information 55%

Base: All

Period: UP TO

First Event

Sponsored

Searchers (%)

Up to Conversion 30%

Up to Quotation 33%

Up to Information 11%

Base:

Searchers

Period: UP TO

First Event

Base: All and searchers in the Real Estate market

Note:% of searchers and % of searchers that use sponsored search UP TO the first event. Searches are defined as only those that lead to a relevant website.

A sponsored search/Link is one that requires a Search Engine redirect to point it to the website.

3 out of 4 of those who convert use search beforehand

Google Confidential and Proprietary 34 Google Confidential and Proprietary 34 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: All, those that gather information, get a quote or convert who search within in the Real Estate market

Note: Number of searches made UP TO the first event. Searches are defined as only those that lead to a relevant website.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%1

-5 s

ea

rch

es

6 -

9 s

ea

rch

es

10 -

14

sea

rche

s

15 -

19

sea

rche

s

20 -

24

sea

rche

s

25 -

29

sea

rche

s

30 -

39

sea

rche

s

40 -

49

sea

rche

s

50 -

59

sea

rche

s

60 -

69

sea

rche

s

70 -

79

sea

rche

s

80 -

89

sea

rche

s

90 -

99

sea

rche

s

100

+ s

earc

he

s

% of searchers up to the first event

Up To Quotation

Up To Information

Up To Conversion

Those that convert are more likely to use 6 or more searches up to the first

conversion event

Google Confidential and Proprietary 35 Google Confidential and Proprietary 35 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those looking to rent are most likely to search up to the first quotation, whereas

it is those looking to buy that are most likely up to the first conversion

Base: Those visiting sub segments within the Real Estate market

Note: % of searchers in different segments within Real Estate sub segments UP TO the first event. Searches are defined as only those that lead to a relevant website.

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Searchers (%) Up To First Event

Up To Quotation

Up To Information

Up To Conversion

52%

59%

75%

63%

64%

68%

70

% 84%

53%

72%

79%

71%

51%

45%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Purchase Rent Sell Out Rent Out New Homes

Purchase Investment

1.7 1.7 1.8 1.7 2.1 1.9

6.0 10.1 2.8 2.8

12.5 9.3 2.3 2.0

Average searches per searcher

Up To Quotation

Up To Information

Up To Conversion

Google Confidential and Proprietary 36 Google Confidential and Proprietary 36 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those looking to Purchase are most likely to use sponsored search up to the

first conversion event

Base: Searchers visiting sub segments in the Real Estate market

Note: % of searchers using sponsored search in that get a quote, visit Quotation pages or Conversion within Real Estate sub segments UP TO the first event

A sponsored search/Link is one that requires a Search Engine redirect to point it to the website.

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

12%

11

%

5%

30%

23%

20%

25%

40%

36%

45%

31%

29%

12%

9%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Sponsored Searchers (%)

Up To Quotation

Up To Information

Up To Conversion

Google Confidential and Proprietary 37 Google Confidential and Proprietary 37 Real Estate | FR Source: Nielsen NetView France January-June 2013

More searchers used Generic search terms up to an information and

quotation event and brand only up to a conversion event

Base: All, those that gather information, get a quote or convert who search within in the Real Estate market

Note :% of searchers and % of searches that used generic, brand only terms & brand with other text UP TO the first event;

Searches are defined as only those that lead to a relevant website

45%

9%

46% 38%

8%

54% 56%

10%

34%

44%

10%

48%

BrandOnly

Brandwith

Other

GenericTotal

51%

16%

68%

BrandOnly

Brandwith

Other

Generic

75%

26%

53%

BrandOnly

Brandwith

Other

Generic

Up To Quotation Up To Information Up To Conversion

Searches Searches Searches

Searchers % Searchers % Searchers %

Google Confidential and Proprietary 38 Google Confidential and Proprietary 38 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those who convert within Purchase are most likely to use Generic terms before

the first conversion event

Base: Searchers visiting sub segments in the Real Estate market

Note: % of searchers in different segments within Real Estate sub segments that use GENERIC terms UP TO the first event.

Searches are defined as only those that lead to a relevant website.

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Generic Searchers (%) Up To First Event

Up To Quotation

Up To Information

Up To Conversion

42%

44%

91%

64%

70%

47%

68%

70%

78%

72%

54%

46%

21%

10%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Google Confidential and Proprietary 39 Google Confidential and Proprietary 39 Real Estate | FR Source: Nielsen NetView France January-June 2013

36% of searches up to the first conversion amongst those looking to rent

utilised generic terms.

Base: Searchers visiting sub segments in the Real Estate market

Note: % of GENERIC searches in different segments within Real Estate sub segments that use GENERIC terms UP TO the first event. Searches are defined as only those that

lead to a relevant website.

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Generic Searches (%) Up To First Event

Up To Quotation

Up To Information

Up To Conversion

41%

42%

90%

69%

69%

47%

45%

35

%

83%

63%

30%

36%

20%

9%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Google Confidential and Proprietary 40 Google Confidential and Proprietary 40 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: All, those that gather information, get a quote or convert who search within the Real Estate market

Note: The figures shown are the number of people who have made both or only one type of search which lead to a

relevant site; Searches are defined as only those that lead to a relevant website

33% 38%

23% 29%

38% 26% 45%

57%

29% 36% 33%

13%

Total Information Quotation Conversion

Both

Brand Only

Generic Only

% of searchers

The majority of those who request a quote or convert and search used both

brand and generic terms when searching in the Real Estate market

Google Confidential and Proprietary 41 Google Confidential and Proprietary 41 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: All, those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: The figures shown are the number of people who have made both or only one type of search which lead to a relevant site; Searches are defined as only those that lead to a

relevant website

% of searchers

43%

25% 29%

24%

47%

60%

33% 28%

11%

Info

rmation

Quota

tio

n

Co

nvers

ion

Those that looking to buy and rent that convert are more likely to use both

generic and brand terms

46%

20%

39%

19%

47%

46%

35% 34%

15%

Info

rmation

Quota

tio

n

Convers

ion

6%

23%

65%

3%

9%

18%

90%

68%

17%

Info

rmation

Quota

tio

n

Convers

ion

37%

86% 1%

7%

63%

7%

Info

rmation

Quota

tio

n

Convers

ion

Purchase Rent Sell Out Rent Out

Both

Brand Only

Generic Only

Google Confidential and Proprietary 42 Google Confidential and Proprietary 42 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: All, those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: The figures shown are the number of people who have made both or only one type of search which lead to a relevant site; Searches are defined as only those that lead to a

relevant website

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

% of searchers

25% 23%

13% 26%

62%

51%

Info

rmation

Quota

tio

n

Convers

ion

Those that seek information about new homes are more likely to use brand

terms than generic or both

43%

16%

41%

Info

rmation

Quota

tio

n

Convers

ion

New Homes Purchase Investment

Both

Brand Only

Generic Only

Google Confidential and Proprietary 43 Google Confidential and Proprietary 43 Real Estate | FR Source: Nielsen NetView France January-June 2013

B = Brand

G= Generic

N = No further searches

Search

Brand 50%

B 52%

B 61%

G 10%

N 29%

G 11%

B 20%

G 53%

N 27%

N 38%

Generic 50%

B 11%

B 52%

G 17%

N 31%

G 51%

B 12%

G 65%

N 23%

N 39%

1st Search

2nd Search

3rd Search

Information

Base: Those that gather information within the Real Estate market

Note: Each of the first three category searches performed by the audience. Figures Tree: % of Searchers, Searches are defined as only those that lead to a relevant website. Figures

may not add up to 100% due to rounding

Amongst those that gather information, Brand searches tend to lead to further

Brand searches and Generic searches tend to lead to further Generic searches

Google Confidential and Proprietary 44 Google Confidential and Proprietary 44 Real Estate | FR Source: Nielsen NetView France January-June 2013

Amongst those who visited quotation pages 55% of first searches used generic

terms, the highest proportion compared to those that seek information or convert

Search

Brand 45%

B 66%

B 67%

G 19%

N 14%

G 14%

B 22%

G 70%

N 8%

N 19%

Generic 55%

B 17%

B 50%

G 43%

N 7%

G 60%

B 11%

G 76%

N 13%

N 24%

1st Search

2nd Search

3rd Search

Quotation

Base: Those that visit Quotation pages within the Real Estate market

Note: Each of the first three category searches performed by the audience. Figures Tree: % of Searchers, Searches are defined as only those that lead

to a relevant website. Figures may not add up to 100% due to rounding

B = Brand

G= Generic

N = No further searches

Google Confidential and Proprietary 45 Google Confidential and Proprietary 45 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: Those who convert within the Real Estate market

Note: Each of the first three category searches performed by the audience. Figures Tree: % of Searchers, Actual: Audience (m); Searches are defined

as only those that lead to a relevant website. Figures may not add up to 100% due to rounding

Search

Brand 65%

B 71%

B 75%

G 14%

N 11%

G 17%

B 27%

G 61%

N 12%

N 12%

Generic 35%

B 21%

B 59%

G 25%

N 17%

G 67%

B 17%

G 72%

N 11%

N 12%

1st Search

2nd Search

3rd Search

Conversion

Amongst those that converted two-thirds of first searches used brand terms, the

highest proportion compared to those that gather information or request a

quotation

B = Brand

G= Generic

N = No further searches

Google Confidential and Proprietary 46 Google Confidential and Proprietary 46 Real Estate | FR Source: Nielsen NetView France January-June 2013

Brand searches are most likely to be used than Generic within the first search

across those looking to buy and rent

56%

57%

9%

40%

31%

52%

44%

43%

91%

60%

69%

48%

Purchase

Rent

Sell Out

Rent Out

New Homes Purchase

Investment

54%

50%

24%

42%

46%

50%

76%

58%

68%

77%

82%

90%

32%

23%

18%

10%

Quotation Information Conversion

Brand Generic Brand Generic Brand Generic

1st Search

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Each of the first category searches performed by the audience. Figures Tree: % of Searchers, Searches are defined as only those that lead to a

relevant website. Figures may not add up to 100% due to rounding

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

Google Confidential and Proprietary 47 Google Confidential and Proprietary 47 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Websites

Google Confidential and Proprietary 48 Google Confidential and Proprietary 48 Real Estate | FR Source: Nielsen NetView France January-June 2013

SeLoger is the most important site for those seeking information or getting quotes

when looking for New Homes to Purchase

Base: Those visiting ‘New Homes Purchase’ within the Real Estate market

Note: % of those that gather information and get a quote who visited different types of ‘New Homes Purchase’ websites;

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

*CAUTION: Small sample size. Please use for qualitative purposes only

803

377

313

234

215

206

190

172

96

78

SeLoger.com

immoneuf.com

trouver unlogement neuf

Explorimmo

Logic-immo.com

Icade ImmobilierNeuf

BouyguesImmobilier

Google Maps

NexityLogement*

Mappy*

156

63

58

57

53

SeLoger.com

immoneuf.com*

Explorimmo*

Icade ImmobilierNeuf*

BouyguesImmobilier*

Quotation (%) Information (%)

New Homes Purchase | Top Sites

Google Confidential and Proprietary 49 Google Confidential and Proprietary 49 Real Estate | FR Source: Nielsen NetView France January-June 2013

The first website visited differs across the sub segments but there is an

indication that Leboncoin.fr is important across Purchase and rent

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Top: First website visited. Based on Audience.

First Visited Website | Top Website % of e.g. information gatherers within Real Estate

Information Quotation Conversion

PURCHASE Leboncoin.fr Immo 44% Meilleurtaux.com Credit Immo

15% Leboncoin.fr Immo 82%

RENT Leboncoin.fr Immo 59% PAP 27% Leboncoin.fr Immo 91%

SELL OUT MeilleursAgents 71% MeilleursAgents 37% Leboncoin.fr Immo 88%

RENT OUT LaCoteImmo.com 40% Leboncoin.fr Immo 90%

NEW HOMES PURCHASE

SeLoger.com 30% SeLoger.com 33%

INVESTMENT SeLoger.com 63%

Google Confidential and Proprietary 50 Google Confidential and Proprietary 50 Real Estate | FR Source: Nielsen NetView France January-June 2013

Leboncoin.fr is the most visited website up to all events.

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Top 10 websites visited UP TO the first event

Website Visitation Up To The Event | Top 10

43%

14%

5%

5%

4%

4%

4%

3%

2%

2%

Leboncoin.fr Immo

SeLoger.com

Logic-immo.com

Google Maps

PAP

MeilleursAgents

LaVieImmo

A Vendre A Louer

La ProvenceImmobilier

Explorimmo

34%

26%

24%

21%

17%

14%

14%

11%

11%

9%

Leboncoin.fr Immo

SeLoger.com

Meilleurtaux.com

Meilleurtaux.comCredit Immo

PAP

Logic-immo.com

MeilleursAgents

A Vendre A Louer

Google Maps

Explorimmo

90%

27%

17%

16%

16%

9%

8%

8%

8%

8%

Leboncoin.fr Immo

SeLoger.com

Logic-immo.com

PAP

Google Maps

Vivastreet

ouestfrance-immo.com

ORPI

ParuVendu.fr

Mappy

Quotation (%) Information (%) Conversion (%)

Google Confidential and Proprietary 51 Google Confidential and Proprietary 51 Real Estate | FR Source: Nielsen NetView France January-June 2013

The most visited websites up to the event differs across the sub segments but

there is an indication that Leboncoin.fr is an important site amongst those

looking to buy and rent

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Top website visited up to event. Based on Audience.

Website Visitation Up To the Event | Top Website % of e.g. information gatherers within Real Estate

Up to Information Up to Quotation Up to Conversion

PURCHASE Leboncoin.fr Immo 44% Leboncoin.fr Immo 39% Leboncoin.fr Immo 90%

RENT Leboncoin.fr Immo 60% Leboncoin.fr Immo 47% Leboncoin.fr Immo 96%

SELL OUT MeilleursAgents 71% MeilleursAgents 51% Leboncoin.fr Immo 89%

RENT OUT LaCoteImmo.com 40% Leboncoin.fr Immo 90%

NEW HOMES PURCHASE

SeLoger.com 30% SeLoger.com 39%

INVESTMENT SeLoger.com 63%

Google Confidential and Proprietary 52 Google Confidential and Proprietary 52 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Conversions

Google Confidential and Proprietary 53 Google Confidential and Proprietary 53 Real Estate | FR Source: Nielsen NetView France January-June 2013

Start Points in Grey

Total Google Search

(incl. Sponsored)

Referrals Classifieds

(Multi-cat)

RealEstate

Classifieds

Information

Audience movement during the Information session is complex and non linear

Base: Those who gather information in the Real Estate Market

Note: The movement of audience between sites during a session up to where the Information event took place; * Referral refer only to where the Information website is the first

relevant content website to be visited in the session.; Arrows represent proportion of audience who go from one site type to another in the Information session.

(Only Audience movements above 1% shown)

Quotation

Maps

Press

Other Search

46%

38%

14%

10% 6%

16%

11%

6%

9% 6%

6%

47%

15%

12%

7% 1%

1% 0.4%

15%

New Homes Home/

Property Loan Networks 1%

3% 3%

1%

1%

2% 2%

0.6%

Google Confidential and Proprietary 54 Google Confidential and Proprietary 54 Real Estate | FR Source: Nielsen NetView France January-June 2013

Start Points in Grey

Base: Those that visit Quotation pages in the Real Estate Market

Note: The movement of audience between sites during a session up to where visitation to Quotation pages took place; * Referral refer only to where the quotation website is

the first relevant content website to be visited in the session.; Arrows represent proportion of audience who go from one site type to another in the visitation session.

(Only Audience movements above 1% shown)

Google plays an important role within Quotation session

Total Google Search

(incl. Sponsored)

Quotation

Classifieds

(Multi-cat)

RealEstate

Classifieds

Quotation

Home/Property

Loan

Networks

Referral

28%

23%

8%

6%

20%

17%

5%

14% 6%

39% 13%

12%

7%

2%

1%

21%

8%

New Homes Other Search

Maps

2%

2%

2%

3%

4%

1% 2%

1% 1%

33%

2%

21% 18%

1%

6%

Google Confidential and Proprietary 55 Google Confidential and Proprietary 55 Real Estate | FR Source: Nielsen NetView France January-June 2013

Start Points in Grey

Base: Conversion in the Real Estate Market

Note: The movement of audience between sites during a session up to where the Conversion took place; * Referral refer only to where the conversion website is the first

relevant content website to be visited in the session.; Arrows represent proportion of audience who go from one site type to another in the visitation session.

(Only Audience movements above 1% shown)

Total Google Search

(incl. Sponsored)

Conversion

The path to conversion is complex and involves many touch points

with Google playing an important role

Classifieds

(Multi-cat)

RealEstate

Classifieds

Maps

Other Search

Networks

Referral

25%

52%

11%

20%

15%

13%

9%

2%

14%

14%

7%

14%

6%

7%

6%

39%

39% 6%

4%

1%

10%

Quotation New Homes

Home/

Property Loans

1% 1%

8%

1%

1%

1%

Google Confidential and Proprietary 56 Google Confidential and Proprietary 56 Real Estate | FR Source: Nielsen NetView France January-June 2013

Start Points in Grey

Base: Allin the Real Estate Market

Note: The movement of audience between sites during a session up to where the activity took place; * Referral refer only to where the website is the first relevant content

website to be visited in the session.; Arrows represent proportion of audience who go from one site type to another in the visitation session.

(Only Audience movements above 5% shown)

Total Google Search

(incl. Sponsored)

Total

The path is complex and involves many touch points with Google

playing an important role

RealEstate

Classifieds

Maps

Other Search

Networks

Referral

44% 7%

9%

1%

15%

Quotation Press

Classifieds

(Multi-cat) 30%

Home/

Property Loans

2%

2% 1%

0.4% 39%

34%

12%

12% 5%

5%

5%

20%

17%

11%

6%

6%

Google Confidential and Proprietary 57 Google Confidential and Proprietary 57 Real Estate | FR Source: Nielsen NetView France January-June 2013

Conversion

5,207,104

Direct = 42%

Category Referral = 3%

Natural Search = 42%

Sponsored Search = 3%

Non category referral = 11%

Route to ‘Conversion’

Sponsored Search = 10%

Users are likely to use search as a route to information, quotation

and conversion

Base: Those that gather information, get a quote or convert within the Real Estate market

Note: All the routes taken to reach a website when gathering information, getting a quote, or converting

Quotation

4,603,245

Direct = 30%

Category Referral = 4%

Natural Search = 37%

Non category referral = 19%

Route to ‘Quotation’

Information

19,926,408

Direct = 32%

Category Referral = 2%

Natural Search = 47%

Sponsored Search = 5%

Non category referral = 14%

Route to ‘Information’

Google Confidential and Proprietary 58 Google Confidential and Proprietary 58 Real Estate | FR Source: Nielsen NetView France January-June 2013

Use of sponsored search is most apparent in Purchase and Rent up to the first

quotation and conversion event

Up To Quotation

Up To Information

Up To Conversion

12%

11%

5%

30%

23%

20%

25%

40%

36%

45%

31%

29%

12%

9%

Purchase Rent Sell Out Rent Out New HomesPurchase

Investment

Base: Searchers visiting sub segments in the Real Estate market

Note: % of searchers using sponsored search in different segments within Real Estate sub segments UP TO the first event.

A sponsored search/Link is one that requires a Search Engine redirect to point it to the website.

Sponsored Searchers (%) Up To First Event

Google Confidential and Proprietary 59 Google Confidential and Proprietary 59 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that use sponsored search are more likely to get a quote or convert than

all those in the Real Estate market

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: % of those who clicked on the type of search and get a quote, visit Quotations and Conversion; Searches are defined as only those that lead to a relevant website;

A sponsored search/Link is one that requires a Search Engine redirect to point it to the website. Times’ more likely versus all. Correlation not causation.

0,8

0,8

0,4

0,9

1,3

2,0

1,7

1,6

1,8

1,7

0,7

Purchase Rent Sell Out Rent Out New Homes

PurchaseInvestment

Quotation

Information

Conversion

The number of times more likely to, e.g. Conversion, compared to all Sponsored Searchers

Google Confidential and Proprietary 60 Google Confidential and Proprietary 60 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those that visit Classifieds are more likely to convert visitors to than

RealEstate classifieds…

Base: Those who gather information in the Real Estate market and sub segments

Note: The % of people who look on a site who go on to either visit Quotations or Conversion pages on the site.

Audience Conversion (%)

32,7%

19,9%

17,8%

98,0%

100,0%

6,1%

3,3%

2,8%

14,8%

13,9%

Total

Sale

Rent

Sell House

Rent Out

New Homes Sale

Investment

Classifieds (Multi-cat)

RealEstate Classifieds

INFO > Conversion INFO > Quotation

7,1%

5,7%

4,0%

10,7%

11,0%

13,8%

12,9%

7,9%

15,1%

19,0%

Total

Purchase

Rent

Sell Out

Rent Out

New Homes Purchase

Investment

Google Confidential and Proprietary 61 Google Confidential and Proprietary 61 Real Estate | FR Source: Nielsen NetView France January-June 2013

Base: Those who gather information in the Real Estate market and sub segments

Note: The % of events on a site - visit Quotations or Conversion on the site.

Events Conversion (%)

…The same is true when looking at event conversions

INFO > Conversion INFO > Quotation

1,1%

0,8%

0,7%

8,5%

5,7%

5,7%

6,6%

2,8%

11,6%

11,4%

Total

Purchase

Rent

Sell Out

Rent Out

New Homes Purchase

Investment

Classifieds (Multi-cat)

RealEstate Classifieds

8,3%

4,6%

4,9%

98,6%

100,0%

1,8%

1,3%

1,0%

12,3%

12,8%

Total

Sale

Rent

Sell House

Rent Out

New Homes Sale

Investment

Google Confidential and Proprietary 62 Google Confidential and Proprietary 62 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Individual Journeys

Google Confidential and Proprietary 63 Google Confidential and Proprietary 63 Real Estate | FR Source: Nielsen NetView France January-June 2013

Note: Example of Purchase Real Estate Journey Path

Searches = Sponsored Link Clicked

DAY

SE

AR

CH

ES

S

ITE

S

Quotation Information Conversion

1 6 44 51 60 77

le bon coin

simulateur

credit immo

collecte d'argent

don pour payer maison

Leboncoin.fr Immo Explorimmo

trouver un

logement neuf

Société Générale

Journey Path | Purchase

immobilier

dans les yvelines

SeLoger.com Cetelem

101

OPRI

102

Century 21

Century 21

116

Century 21

123 142 157

Annonces

Jaunes Immobilier

168

Vendre A Louer

AnnoncesJaunes

Immobilier

Leboncoin.fr Immo

Cetelem Leboncoin.fr Immo

century21

ceret cetelem

Leboncoin.fr Immo

Empruntis

BNP Paribas

Marchais

immobilier

orpi prades

Google Confidential and Proprietary 64 Google Confidential and Proprietary 64 Real Estate | FR Source: Nielsen NetView France January-June 2013

DAY

SE

AR

CH

ES

S

ITE

S

vente

ppartement

castanet-tolosan

Le Partenaire

Europeen

1 54 55 76 84 85

MeilleursAgents

vente

appartement

de particulier

à particulier

ParuVendu.fr MeilleursAgents

prix de

l'immobilier 31

Searches = Sponsored Link Clicked

Quotation Information Conversion

Journey Path | Sell Out

prix au metre

carre immobilier

castanet-tolosan

Le Partenaire

Europeen

Le Partenaire

Europeen

vente

appartement

castanet-tolosan

vente

appartement

castanet-tolosan

Note: Example of Sell Out Journey Path

Google Confidential and Proprietary 65 Google Confidential and Proprietary 65 Real Estate | FR Source: Nielsen NetView France January-June 2013

Note: Example of Sell Out Journey Path

Searches = Sponsored Link Clicked

Quotation Information Conversion

Journey Path | Sell Out cont…

98 117 118

vente

appartements

castanet-tolosan

vente par notaires

vente

apartements

castanet-tolosan

avis

Evaluer la valeur

de son

appartement

a vendre x2

estimer mon

apartment x2

MeilleursAgents

EffiCity

Meilleurtaux.com

prix de vente

appartement

Square Habitat

ViaMichelin

ParuVendu.fr

AnnoncesJaunes

Immobilier

Le Partenaire

Europeen

MeilleursAgents

Google Confidential and Proprietary 66 Google Confidential and Proprietary 66 Real Estate | FR Source: Nielsen NetView France January-June 2013

Note: Example of Rent Out Real Estate Journey Path

Searches = Sponsored Link Clicked

DAY

SE

AR

CH

ES

S

ITE

S

Quotation Information Conversion

1 26 49 50 53 61

Leboncoin.fr Immo

entre particuliers paruvendu

paruvendu Leboncoin.fr Immo

Journey Path | Rent Out

le bon coin leboncoin

Entreparticuliers

.com ParuVendu.fr

SeLoger.com

68

Leboncoin.fr Immo

entre particulier le bon coin

Leboncoin.fr Immo

Google Confidential and Proprietary 67 Google Confidential and Proprietary 67 Real Estate | FR Source: Nielsen NetView France January-June 2013

Note: Example of New Homes Purchase Journey Path

Searches = Sponsored Link Clicked

Quotation Information Conversion

Journey Path | New Homes Purchases

DAY

SE

AR

CH

ES

S

ITE

S

1 4 5 25

appartements

neufs niort 79 x2

appartements

neufs niort 79 x2 Appartements

neufs annemasse

Nexity Logement trouver un

logement neuf

Nexity Logement

trouver un

logement neuf

Logisneuf.com

Pichet Immobilier

Nexity Logement

Google Confidential and Proprietary 68 Google Confidential and Proprietary 68 Real Estate | FR Source: Nielsen NetView France January-June 2013

DAY

SE

AR

CH

ES

S

ITE

S

leboncoin

Leboncoin.fr Immo

1 3 24 25 32 47

location

appartement

particulier

PAP

leboncoin

Leboncoin.fr Immo

Pap

seloger

PAP

SeLoger.com

location 93320

Google Maps

seloger

SeLoger.com

55 59 64 81

location nogent sur marne

location appartement sur

avendrealouer.fr

location champigny

sur marne

Logic-immo.com

A Vendre A Louer

FONCIA

Logic-immo.com

A Vendre A Louer

FONCIA

Explorimmo

au bon coin

Leboncoin.fr Immo

SeLoger.com Leboncoin.fr Immo

Note: Example of Rent Real Estate Journey Path

PAP

Leboncoin.fr Immo

Journey Path | Rent

Searches = Sponsored Link Clicked

Quotation Information Conversion

Guy Hoquet

Logic-immo.com

Google Confidential and Proprietary 69 Google Confidential and Proprietary 69 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

HML Searcher Analysis

Google Confidential and Proprietary 70 Google Confidential and Proprietary 70 Real Estate | FR Source: Nielsen NetView France January-June 2013

15 761

4 927 4 815 6 019

223 162

184 939

28 239 9 984

Heavy Medium Light All searchers

Searchers in the Real Estate sector segmented based on search query volume

Searc

hes

(00

0s)

Heavy Medium Light All searchers

Base: All searchers in the Real Estate category

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

May not add to 100% due to rounding

83% 13% 4%

31% 31% 38%

100%

100%

Heavy Real Estate searchers make up a third of searchers but account

for 80% of searches

Searc

hers

(00

0s)

Google Confidential and Proprietary 71 Google Confidential and Proprietary 71 Real Estate | FR Source: Nielsen NetView France January-June 2013

29% 54% 24% 12%

14%

17%

16%

9%

57%

28%

59%

77%

1% 1% Research

Information

Quotation

Conversion

Heavy Medium Light All searchers

Base: All searchers in the Real Estate category

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Searchers conducting an activity in the Real Estate category

Searchers (%)

The proportion of Real Estate searchers making a Conversion increases

amongst heavier searchers

Google Confidential and Proprietary 72 Google Confidential and Proprietary 72 Real Estate | FR Source: Nielsen NetView France January-June 2013

Heavy Medium Light All searchers

Searchers making a Conversion by search segment

Heavy Medium Light All searchers

Number of queries up to first Conversion

Base: All searchers in the Real Estate category

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Searchers (%)

Conversion reach increases with search activity and Heavy searchers

make more related queries up to first Conversion

29% 54% 24% 12%

14%

17%

16%

9%

57%

28%

59%

77%

1% 1% Research

Information

Quotation

Conversion

10,8

15,5

3,7 1,5

Google Confidential and Proprietary 73 Google Confidential and Proprietary 73 Real Estate | FR Source: Nielsen NetView France January-June 2013

Total Purchase Rent

Sell Out Rent Out

Searchers making a Conversion by sub segment

Base: All searchers in the Real Estate category

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Searchers (%)

Conversion increases with search volume across all Real Estate sub segments

29%

54%

24% 12%

TotalSearcher

HeavySearcher

MediumSearcher

LightSearcher

18% 37%

13% 8%

TotalSearcher

HeavySearcher

MediumSearcher

LightSearcher

17% 35%

15% 7%

TotalSearcher

HeavySearcher

MediumSearcher

LightSearcher

33% 45%

34% 25%

TotalSearcher

HeavySearcher

MediumSearcher

LightSearcher

72% 86%

76% 64%

TotalSearcher

HeavySearcher

MediumSearcher

LightSearcher

Google Confidential and Proprietary 74 Google Confidential and Proprietary 74 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Shopper Activity - YT activity

Google Confidential and Proprietary 75 Google Confidential and Proprietary 75 Real Estate | FR Source: Nielsen NetView France January-June 2013

Conversion 55%

Women

Quotation 47%

Information 50%

Total YT

50% 1

2 1 = Men

2 = Women

Age Profile %

25%

24%

26%

30%

34%

32%

36%

36%

32%

33%

31%

29%

9%

10%

6%

5%

21 - 34 35 - 49 50 - 64 65+

Conversion

Quotation

Information

Total YT

Base: All YT users, Those that gather information, get a quote or convert within the sub segments in the Real Estate market and who use YouTube

Note: Activity on those that use YT and visit Real Estate by sub segment.

YouTube users who convert within the Real Estate market are more likely to be

women but the age profile is in line with YouTube audience in the Real Estate market

Gender Profile %

Profile of YouTube activity for consumers in Real Estate market performing specific activity

Google Confidential and Proprietary 76 Google Confidential and Proprietary 76 Real Estate | FR Source: Nielsen NetView France January-June 2013

Total YT Information Quotation Conversion

41 46 56 57

6.5 6.3 7.0 6.6

0:05:28 0:05:23 0:05:27 0:05:23

Profile of YouTube activity for consumers in Real Estate market performing specific activity

Sessions

per person

Pages per session

Time per session

Base: All YT users, Those that gather information, get a quote or convert within the sub segments in the Real Estate market and who use YouTube

Note: Activity on those that use YT and visit Real Estate by sub segment.

Those using quotations or converting in the Real Estate market visit YouTube

more frequently than the average YouTube user…

Google Confidential and Proprietary 77 Google Confidential and Proprietary 77 Real Estate | FR Source: Nielsen NetView France January-June 2013

Total YT Purchase Rent Sell Out Rent Out New Homes

Purchase Investment

41 57 53 45 31

6.5 7.1 6.4 5.0 6.1

0:05:28 0:05:21 0:05:51 0:04:11 0:04:22

Quotation

Total YT Purchase Rent Sell Out Rent Out New Homes

Purchase Investment

41 62 58 68 54

6.5 6.3 7.8 7.2 6.6

0:05:28 0:05:03 0:06:34 0:05:42 0:04:51

Conversion

Total YT Purchase Rent Sell Out Rent Out New Homes

Purchase Investment

41 49 54 71 42 55 63

6.5 6.3 6.6 5.0 5.0 6.5 7.0

0:05:28 0:05:20 0:05:32 0:03:36 0:05:00 0:05:21 0:05:18

Information

YouTube activity for consumers in Real Estate market performing specific activity

Sessions

per person

Pages per session

Time per session

Sessions

per person

Pages per session

Time per session

Sessions

per person

Pages per session

Time per session

More than YT total Equal to YT total Less than YT total

Base: All YT users, Those that gather information, get a quote or convert within the sub segments in the Real Estate market and who use YouTube

Note: Activity on those that use YT and visit Real Estate by sub segment

This trend is seen across the those that convert

Google Confidential and Proprietary 78 Google Confidential and Proprietary 78 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

HML Searcher Analysis – YouTube activity

Google Confidential and Proprietary 79 Google Confidential and Proprietary 79 Real Estate | FR Source: Nielsen NetView France January-June 2013

50% 49% 42% 48% 55%

50% 51% 58%

52% 45%

Gender

Women

Men

Heavy Medium Light All Searchers Total YT

Base: All YT users, All searchers in the Real Estate category who visit YouTube

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Profile of Real Estate searchers who also use YouTube

Heavy and medium Real Estate searchers that used YouTube were

more likely to be women than the average YouTube user

Google Confidential and Proprietary 80 Google Confidential and Proprietary 80 Real Estate | FR Source: Nielsen NetView France January-June 2013

26%

22%

30%

26%

25%

31%

37%

32%

33%

34%

33%

34%

32%

33%

32%

9%

7%

6%

8%

9%

21 - 34 35 - 49 50 - 64 65+

Total YT

Heavy

Medium

Light

All searchers

Base: All YT users, All searchers in the Real Estate category who visit YouTube

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Profile of Real Estate searchers who also use YouTube

Heavy searchers who use YouTube are more likely to be 21-34 than the

average YouTube user

Google Confidential and Proprietary 81 Google Confidential and Proprietary 81 Real Estate | FR Source: Nielsen NetView France January-June 2013

41 51 61 51 43

6.5 6.4 7.0 6.2 6.0

0:05:28 0:05:24 0:05:35 0:05:15 0:05:19

Sessions

per person

Pages per session

Time per session

Heavy Medium Light All searchers Total YT

Base: All YT users, All searchers in the Real Estate category who visit YouTube

Note: Searches are defined as those making a search within the Real Estate category on a search engine which leads to a relevant website.

Profile of Real Estate searchers who also use YouTube

Heavy searchers who use YouTube had more YouTube sessions and viewed more

pages per session than the average YouTuber

Google Confidential and Proprietary 82 Google Confidential and Proprietary 82 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey Deep Dive New Home and Investments

Google Confidential and Proprietary 83 Google Confidential and Proprietary 83 Real Estate | FR Source: Nielsen NetView France January-June 2013

The first website visited for 83% of those that convert is Leboncoin

43%

13%

5%

4%

4%

3%

3%

2%

2%

2%

Leboncoin.fr Immo

SeLoger.com

Logic-immo.com

PAP

MeilleursAgents

LaVieImmo

A Vendre A Louer

La ProvenceImmobilier

Explorimmo

nice-matin Immobilier

13%

13%

7%

7%

6%

5%

5%

4%

3%

3%

Meilleurtaux.comCredit Immo

Meilleurtaux.com

MeilleursAgents

A Vendre A Louer

Leboncoin.fr Immo

PAP

Empruntis

EffiCity

SeLoger.com

LocService

83%

3%

2%

2%

1%

1%

1%

1%

1%

1%

Leboncoin.fr Immo

PAP

SeLoger.com

ouestfrance-immo.com

Logic-immo.com

Vivastreet

ParuVendu.fr

ORPI

FONCIA

Capi

Base: Those that gather information, get a quote or convert within the sub segments in the Real Estate market

Note: Top 10 First websites visited.

Quotation (%) Information (%) Conversion (%)

First Visited Website | Top 10

Google Confidential and Proprietary 84 Google Confidential and Proprietary 84 Real Estate | FR Source: Nielsen NetView France January-June 2013

Real Estate Classifieds and New Home Sites are the most important to those

seeking information or getting quotes when looking for New Homes to Purchase

Base: Those visiting ‘New Homes Purchase’ within the Real Estate market

Note: % of those that gather information and get a quote who visited different types of ‘New Homes Purchase’ websites;

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

58%

53%

13%

4%

3%

3%

3%

3%

1%

Realstate Classifieds

New Homes

Maps

Press

Quotation

Networks

Tax Exemption(défiscalisation)

Classifieds (MultiCat)

Home/Property Loan

62%

42%

18%

12%

10%

6%

6%

4%

4%

Realstate Classifieds

New Homes

Maps

Tax Exemption(défiscalisation)

Press

Quotation

Networks

Home/Property Loan

Classifieds (MultiCat)

Quotation (%) Information (%)

New Homes Purchase | Site Category Visited

Google Confidential and Proprietary 85 Google Confidential and Proprietary 85 Real Estate | FR Source: Nielsen NetView France January-June 2013

Real Estate Classifieds in particular SeLoger are the most important to those

seeking information when looking for Investment

72%

12%

11%

10%

6%

Realstate Classifieds

Maps*

New Homes*

Quotation*

Tax Exemption(défiscalisation)*

Base: Those visiting ‘Investment’ within the Real Estate market

Note: % of those that gather information and get a quote who visited different types of ‘Investment’ websites;

New House Purchase is a sub segment of ‘Purchase’ and Investment is a sub segment of ‘Purchase’ and ‘New Homes Purchase’

*CAUTION: Small sample size. Please use for qualitative purposes only

Investment | Information

442

71

56

51

44

SeLoger.com

Meilleurtaux.com*

Explorimmo*

Google Maps*

Nexity InvestissementImmobilier*

Site Category Visited Top 5 Sites Visited

Google Confidential and Proprietary 86 Google Confidential and Proprietary 86 Real Estate | FR Source: Nielsen NetView France January-June 2013

Those looking to buy are visiting Home/Property Loan sites

throughout their journey

Base: Those looking to buy [Sale]

Note: % of those looking to buy who visit home/property loan sites by quarter of journey

45% 37% 29% 39%

46% 44% 26% 40%

43% 25% 33% 37%

Those looking to buy [Sale] who are visiting home/property loan sites for quotes

Total

Quotation

Conversion

Journey Q1 Journey Q2 Journey Q3 Journey Q4

Google Confidential and Proprietary 87 Google Confidential and Proprietary 87 Real Estate | FR Source: Nielsen NetView France January-June 2013

Understanding the Real Estate

Consumer Journey

Clickstream Research into Real Estate – 2013 France