Zillow Steps Up Their Game
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You guys are doing a great job of creating awareness about market disrupter Zillow . As a serial entrepreneur, I’ve learned to pick my battles. So, now I just share ideas I can’t get to … this one is obvious, the MLSs need to stop sharing their data or start to receive payment for it (actually a good Idea for Zillow’s phase II to continue to extend their business model – damn, helping out the co-opetition 🙂 and commit to fighting to keep their share of the market. Realtors need to find a leader with vision to take them through the next evolution of the market. See you at choir practice tomorrow.
And, what kind of lowball offer will they make? I would be I can get a size-ably larger selling price AND have a valuable trusting relationship with my clients!
Always knew Zillow was not our business partner. Now they have proven it! Way to stab us in the back!
I’m a appraiser an I know Zillow is misleading and a disservice to the consumer. I hope people aren’t naive enough to think Zillow will pay anything resembling market value.
Zillow is reaching out to the public in more and more ways. I am not a Realtor. I am a retired RE lawyer who still follows the industry. 3 years ago I bought a manufactured home on .5 acres for my mother-in-law to live in. About a year ago out of curiosity I went to a few websites, including Zillow, to see what value they gave this property for sale and for rental. I answered a few questions and gave each website some information fully expecting to be swamped with spam and other BS.
The only website I heard from is Zillow. They identified my property as a rental and have targeted me with regular emails about renting property. The last email was about no pets policies and service animals. It was very much on point and informative. If I were a lay person with 1 rental property I probably wouldn’t give a thought to issues regarding service animals at least until a complaint was filed against me.
Zillow is keeping itself in the forefront more than any local Realtor can. It cost them practically nothing to collect my data (I voluntarily gave it to them). I am getting useful information on a regular basis that does not cost Zillow much to produce. Information that I do not have to pay a lawyer or rental manager for.
Odds are when I rent or sell the property the first place I will go is Zillow, not my local Realtor, to gather information. I will probably still list with a local Realtor when that day comes as I recognize the value they bring to the transaction. But many people don’t. I will probably not use Zillow to find my agent but I am sure an every growing percentage of the general public will.