Real Estate Investing in the Real World
Real Estate Blog
THURSDAY, DECEMBER 07, 2006

Zillow.jpg

The new 300 pound gorilla, Zillow.com, has taken the logical next step.  Now you can go and post your home for free and get exposure to Zillow.com's massive customer base.  Interesting tag line:  It's FREE and anyone can do it.  Translation: you don't have to be a licensed real estate agent. 

Clearly, Zillow still has its problems, and the accuracy of its valuation algorithm has attracted lots of critics.  But one thing can't be denied: these guys have a lot of momentum and they know how to keep the public's ear. 

I saw a New Yorker cartoon the other day.  It showed a couple of dinosaurs chatting.  One was emphatically stating the time to develop the technology to destroy an earth-bound asteroid is now!  but the other dinosaur clearly wasn't interested.  And in that vein I'm looking forward to seeing the reaction from the National Association of Realtors.  To date their stock response has been to point out Zillow's flaws and insist that technology isn't a threat.  If they continue with this approach than this will herald the beginning of the end of the standard 6% commission. 

Stay tuned...

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Comments(17)
posted by: Chris Smith
Comments
December 07, 2006
06:53 PM

Follow-up from Zillow.com.  David Gibbons, the Director of Customer Service from Zillow.com, has a post on ActiveRain.com introducing Zillow's listing feature.  Post is entitled Zillow wants your listings.

Lots of discussion on the site among realtors...as you might imagine. 

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