Zillow and Brokers Kiss and Make Up?
Prudential California steps out as debutante and launches Zillow Zestimates on its site, making it the first major brokerage to integrate Zillow’s home valuations into its site. Ever since announcing their partnership with Yahoo! (which also has an exclusive relationship with Prudential), Zillow has been on a tear spreading its API far and wide, though up until this point, mostly with other technology/Internet companies.
So does this constitute the first official industry endorsement of Zillow’s numbers? Does this mean the real estate industry is prepared to accept Zillow as the final authority on home values? I’m sure Greg over at Bloodhound Blog will have something to say about all of this.
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Dan | Aug 27, 2006 | Reply
In a posting on RealBlogging Stefan asks the question “Can Existing Real Estate Brokerages Reengineer Themselves?”
It seems it is slowly developing into a race between the traditional brokers and the new models like Zillow and Trulia.
What are your thoughts on what is going to happen over the next 2-5 years?
Todd | Oct 16, 2007 | Reply
I’ve utilized sites such as Zillow and Trulia to sell properties both as an investor and as an agent. The idea of advertising properties on the net is attractive me as I’m not limited by the same rules and regulations of a traditional MLS, which tell me how to market, and what I can and cannot say in my content. As an agent I embrace technology and see opportunities in sites such as this.
On the other hand, after having listed numerous properties on at least 9 or 10 of these sites over the last year, I have to say I’m disappointed with the results. So far, very few of my properties get more than 2 clicks per month and I’ve received no phone calls or emails. The traditional MLS and yard sign still seem to be the way to go when selling properties. The media seems to like these sites, but for all practical purposes, they are still a waste of time. Hopefully, that will change soon.