Zillow Could End Up Replacing NAR
…As the authoritative voice of real estate. David Lereah are you listening? Zillow could be after your job.
Now, this blog doesn’t focus too much on current real estate market conditions - I prefer to leave that discussion up to the experts. But, as this blog’s name suggests, I do like to see a a good piece of marketing, brilliantly executed.
Zillow’s new market reports are the perfect white paper: they are relevant, timely and easy to digest. But here’s where they really succeed…lots of nice colorful graphs. It’s no wonder journalists are excited. Have you ever tried to read through a NAR news release? Whoo boy, talk about boring. I was asleep after the second paragraph.
These real estate reports are just the thing a reporter under deadline is looking for - a snapshot of the real estate market, summed up in less than ten words with lots of visual examples to reinforce the data. Check out this report for Seattle, as an example.
What Zillow continues to do extremely well is position itself as the real estate thought leader. Heck, even Time Magazine just named them one of their 50 Coolest Websites. Now I don’t want to dive into the debate surrounding the accuracy of Zillow’s Zestimates, but offering journalists (and by extension, their readers) a fresh, new voice on real estate market - one that dispenses with the stodginess of the old guard - what they’re really offering is one more way to secure their brand’s authenticity and authority in the mind of consumers.
And in the end, that’s all that really matters.
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Martin | Aug 23, 2007 | Reply
LOVE IT! That report is so easy to read. It is amazing… The NAR should really wake up and smell coffee. I know what you mean about their reports.
Michael Eversole | Oct 23, 2007 | Reply
NAR or Zillow? I am not a big fan of either, but I know the difference between good and just plan bad. NAR has warm bodies called Realtors that have a stake in the pricing being accurate for today’s market. Zillow has some warm bodies too, but more to make sure that computer is plugged in. A computer that if it were not plugged in would do the consumer a huge service, by not giving out information that is at best; out of touch, out of date and moving in the wrong direction as the real market. This is not the way to inform someone of their property value or the property that someone is interested in buying.
I will continue to go to Zillow to get a laugh and NAR to pay for a report that is written at the third grade level, but are accurate.
Ask a Realtor if they know the difference and ask Zillow…. never mind, there is no one there to ask.
If Zillow was to take over and start hiring warm bodies to give an accurate reporting of the market, then I would work for the best choice of companies. For now, I am a Realtor working for the best company, giving real advice from real knowledge of my real market area.
Michael
PS…my house is listed on Zillow for 850K and worth at best, 400K I wish Zillow would buy my house from me. I could give Zillow a good deal.
Mike Farmer | Jul 15, 2008 | Reply
Actually, in the end, accuracy matters.