infodivamary3

Zillow adds for-sale listings

infodivamary3
December 7, 2006

Zillow just announced that it will be posting for-sale listings along with its other data.

Zillow will take FSBO listings as well as listings posted by realtors.

This is just the beginning. Tradtional real estate agents will be forced to list on Zillow as consumers demand the most exposure possible for their properties.

I strongly suspect this will be the final nail in the coffin for the old protectionist MLS system.

Comments (90)

  • infodivamary3

    If the numbers don't add up, and it's just so much flash, then savvy customers don't mind if their home doesn't appear there.

    A TV show and and a competing listing service are two different things. And don't forget that a Zillow listing will be absolutely free. And that your customers can place the listing there themselves.

    Everyone seems to focus on the inaccuracy of the Zestimates, which are just a small part of the Zillow dataset. If Zillow is successful in becoming a true alternative listing service, it could become the best tracking tool out there for viewing past, pending, and currently-listed properties.

    My clients know about new listings at least 4-5 days before they go into realtor.com, and I'm sure the same would hold true for zillow.

    Not really...I could list my home on Zillow on the same day that it is listed with an agent...or even before.

    Frankly, I think many realtors here are whistling past the graveyard by dismissing Zillow's potential impact on the MLS system so cavalierly.

    The Inman News wrote this about the new Zillow listing service: We predict that industry reaction will be loud and strong. We expect a firestorm.

    Let's wait and see, shall we?

  • reno_fan

    I guess we'll have to agree to disagree. You call it a competing service. I call it a complementary service.

    We'll obviously never see eye to eye on the matter.

  • Related Discussions

    Need to SELL my home. Landscaping ideas to add curb appeal?

    Q

    Comments (53)
    I would suggest you paint the triangular-shaped trim around each gable to accentuate the shape. I would leave the gutters peach, though. Is the white garage next to the house yours? If so, you might add some peach trim and peach shutters to have a "reverse color" scheme so that it coordinates better with the house. I agree the toothy stones look uninviting and downright dangerous. I would suggest laying them flat or getting some large, smooth rocks to border the flower beds. The shrubs do look a bit large, but I would suggest you ask an expert about pruning them as too much pruning can damage older shrubs.
    ...See More

    what to add or subtract from my console?

    Q

    Comments (150)
    Love the last picture. I think that's a winner, with the bigger candle added. I actually love that blue plate, too, yashkaj. I understand why it kept reappearing. ;-) Just.a thought, why not hang the blue plate ON a wall somewhere else in the room to bring the blue into the room and repeat the blue from the books you have on the console? Either hang it on a narrow wall (so it's proportionate and to scale) or as part of a wall collage with framed photos, etc. (giving the wall collage some dimension)?
    ...See More

    What can I ADD to this room?

    Q

    Comments (324)
    First, and most important this room needs an illusion, that it is much bigger!!!! So, the window treatment installations must be, as high as it is-possible. Next, the panels should go 15" inches out from the frame of the windows on both sides Than, you have to many pillows on the sofa, therefore you need consistency, that will create the organized interest. Moreover, you need a bigger mirror and an art work, as well. Finally, the area rug should be much bigger to give you look of the bigger space.
    ...See More

    Help. My house is for sale and was told to make it less modern.

    Q

    Comments (55)
    The living room reminds me of a hotel lobby. The pillows are just too perfectly placed and the color is too controlled for me, like someone picked out just the correct color and number of decorative items from some staging catalog. I understand you like clean and uncluttered but most buyers want to imagine living in the space, not just tiptoe through and try not to leave a mark. I don't get a cozy feeling from the space; it just feels too sparse for me. How about a big green plant for the corner and perhaps a dark rug for the living room. Thrift stores often have great coffee table books and striking design items.
    ...See More
  • cpowers21

    It's funny that you think it's the greatest thing. You already have public records to access. May be you just don't realize that you have all the info, you just need to go get it. When a home sells, it becomes a public record. You can go and get them. I realize that involves more effort than plugging an address into a computer, but it's there. So really, what's so new and innovative that a person doesn't already have? However, there estimates do need to be fixed. With recent sales, you can come up with a better figure than Zillow.

  • mfbenson

    "How can misleading information and unawareness increase their take?"
    By increasing the odds that a deal is closed at an inflated price. If realtors were fee-only instead of commission, you'd see a lot of wind taken out of most of the arguments on this board...
    Agents can inflate all they'd like, but the appraiser is the one that has to say "yeah, it worth that". If we list a house 200k over market, someone makes an offer, and the appraiser oks it, it's his fault. Most times when you see an inflated price, it's the seller's wishes. We don't get to pick the price for seller. We can only offer what we think it should be priced at."

    And if the appraiser goes along with the scheme, a well-informed buyer still won't fall for it, but an ignorant one might.

    An ignorant buyer is of no use to an ethical realtor, but they are low-hanging fruit for the scoundrels.

  • terezosa / terriks

    When a home sells, it becomes a public record. You can go and get them. I realize that involves more effort than plugging an address into a computer, but it's there.

    In my county it is as easy as plugging an address into a computer because the county records are online.

  • reno_fan

    Here as well, Terriks. Our county assessor even has a button "10 most recent comparable sales".

    It must vary from region to region. Where we are, there is no trying to "gatekeep" information. It's all out there. The public has the same access we do as realtors to all of the above information. And like I said, it just makes my job easier, as you don't have to go through alot of the same steps with buyers/sellers that come armed with tons of their own research. It's a boon, and not a hinderance.

  • kats_meow

    When we were selling and buying we looked at a variety of data.

    Zillow - the least helpful. It says that the house we sold in July has a value about $42,000 more than we sold it for. Umm, no, it really doesn't. I looked at the houses they say are comparable sales. Umm, no, they really aren't. They compared our very nice house in a gated subdivision to a house several miles away in a rundown, low income area. Ridiculous since they did not include many sales actually in the same area as my house.

    I also looked at the house bought. Zillow shows it at over $100,000 less than we paid! I also looked at several other houses we looked at and it was also off. The satelitte maps are not terribly helpful as I can get thatn from Google Earth. I agree it has potential but it isn't there yet.

    Realtor.com - I found this inaccurate. The thing that drove me the craziest was searching. I would do a search for a 5 bedroom house on 2 acres and it would give me listings for 3 bedroom houses or a 5 bedroom house not on acreage. I could sort of understand that if there were no houses that met the actual search criteria...but there were houses that I *knew* existed and were on realtor.com and they didn't show up in the search (such as the house we eventually bought).

    The local MLS site - By far the best site. I searched this every day and had automatic searches run and sent to me. This is how I found the house we actually bought. My only irritation was that you couldn't search for lot size or acreage on improved property.

  • infodivamary3

    The public has the same access we do as realtors to all of the above information.

    If that were really true, all those folks at Zillow would be wasting their time. And obviously, they're not, which is why they were able to raise $60 million in venture capital in such a short time. An awful lot of very smart people think Zillow is on to something big.

    Zillow, by the way, is brought to you by the folks that started a little company called Expedia.com that revolutionized the travel business.

    The truth is that the actual MLS listing is not available for public viewing with most MLS systems. And Realtor.com gives only a small portion of the information available on a specific listing. And individuals cannot independently list their homes for sale on Realtor.com, as they will be able to do on Zillow.

    I'm very curious to see what the NAR will have to say about Zillow's plans. Given the ugly words NAR leadership had for Zillow in Los Angeles last month, I'd say that the realtor community is worried....very worried.

    Ignore Zillow at your peril. Compare it to Sunday morning real estate TV if you like. But be assured that even if you're not concerned, the NAR surely is.

  • reno_fan

    Nobody's ignoring it, Mary. I'm sorry if it delights you to think of realtors being "worried, very worried", but it seems you just can't grasp the fact that not ALL areas are the same, so realtors in MY area would not (and are not) worried about something that would basically enhance the great public access we have now.

    For us, it's just another site.

    And for the record, I researched Expedia extensively to go on vacation this summer. Then I went down to my local travel agent and they beat the best rates I could get online, and were able to find us a package that included an extra day. Sure, lots of folks use Expedia, but our local travel agency THRIVES here.

  • berniek

    "If you had clients who insisted that their house be listed on Zillow as well as the MLS--how could you ethically refuse?

    But more important--how could you legally prevent them from listing their house there as well? Would you refuse to take such a listing?"
    My clients homes are listed on over 100 websites (in co-op with other agents), one more "macht nix" for me, the more the merrier."

  • infodivamary3

    For us, it's just another site.

    Yes, just another site like your own MLS, where everyone has equal access to information, and everyone can list their house for sale without paying a large fee to a realtor.

    Oh wait...did I miss something there? Can I list on your MLS for free, like I can on Zillow?

    Just another advertising site? If it works out as Zillow plans, I don't think so.

    When everyone who has a house for sale insists on a free, complete Zillow listing...what, exactly, will be the point of the old realtor-controlled MLS?

  • reno_fan

    Broker to broker information, broker to client information, regulated information/rules, etc. That will be the point of the MLS. Realtors aren't going away any time soon, IDM. They'll still use the tools that are beneficial to them.

    Can we all adapt to new ways? Sure. Without regulation though, Zillow will take a long time to acheive an accurate set up for people. When it is up and running smoothly and effectively, the MLS will *still* be there for full time professionals. It's a realtor's tool, and it'll be around as long as they are, as (was mentioned upthread) there is information on the MLS that is beneficial to realtors.

    The thing is, the tone of your posts suggests that just because everyone COULD list for free their homes, you're assuming they will. Fact is, it can take alot of time and energy to sell a home. There's a helluva lot more to it than posting it on a "Virtual Bulletin Board". Some people (and this is coming straight from my client's mouths) don't have the time nor the energy to mess with any of it, so they use us, and we use the MLS.

  • minet

    I think Zillow is useful but not entirely reliable. We used it some in SoCal and now look at in metro Portland,Oregon, but would not base decisions on the info.

    Here in OR there is a site, rmls.com, that is used by realtors and consumers alike. Same site but realtors have access to the private info (lockbox etc) that consumers don't need. Costs nothing for consumers to use. Very good search features that narrow down what you want.

    Who's to say that Zillow will always be free? They could start charging for the extra info, such as sales history and comps. The aerial map is nice but not anything I can't get elsewhere.

    I like having a lot of sources to get information. Keeps them all on edge a little and leads to innovation.

  • infodivamary3

    Fact is, it can take alot of time and energy to sell a home.

    Of course! Some people will want and need the full services of a professional realtor. Lest you think that I am anti-realtor, I just supervised the signing of a full-service listing agreement for an elderly relative in another state. Her realtor is professional and I'm very glad she's there.

    On the other hand, some people don't need or want those realtor services...they just want to list their house in the place that is most effective and reaches the largest pool of potential buyers.

    And that's the whole point. If Zillow works, consumers will have a real choice, which they don't currently have in many markets.

  • cpowers21

    "If that were really true, all those folks at Zillow would be wasting their time. And obviously, they're not, which is why they were able to raise $60 million in venture capital in such a short time."

    It IS TRUE! You can find out all recent sales in your neighborhood. It's a matter of public record. I could find recent sales and tax assessment (including people that owed back taxes) in Allegheny county, Pennsylvania when I lived there. In fact, that is what I did when we were looking at houses there to get market value myself to go along with my agents. Zillow is just putting it together on one site. That simple. And if they are using public records from web sites, it's not that great. Websites are updated differently. Some counties only update every 2 years and others 2 times a year. It's far better to go to your county court ad get public records.

    The NAR isn't worried about them. You are sadly mistaken. You can have free listings all day on Zillow but you atill aren't going to get the whole picture that real estate professionals get from the mls. It's just not going to happen. You have FSBO sites right now, people use them. For most people it works out fine. For others they end up in a law suit over a disclosure. I highly doubt Zillow is going to negotiate and furnish all the legal documents that you need. And they sure aren't going to be responsible for someone selling their house too low because of their ZESTIMATE. People will still use real estate agents to make their life a little less stressful (at least attempt to). They will use them for legal protection. We are people, we do make mistakes.

    I don't know what happened to make you hate the profession so much. I don't like the high fees lawyers charge. But if I am sued or have to go to court, you better bet I am taking a lawyer. I would rather try to minimize my headache. I have the choice to represent myself though. You have a choice in all you do. If you don't like agents, that's fine. You don't have to use one. But you don't have to get on your soap box and cast stones. Let he without sin, cast the first stone. I am not going to attack a profession because of one bad seed. We don't live in a perfect world. At least I don't. May be you think you do.

    Here is a link that might be useful: NAR talking about Zillow

  • infodivamary3

    Wow, I seem to have hit quite a nerve, simply by suggesting that not everyone should be forced to enlist the services of a realtor just to list their home.

    I'm an awful, hateful person, just because I suggest such a thing. I'm up on a soapbox, casting stones.

    Amazing. Perhaps I should be tarred and feathered, just because I think an ingrained, monopolistic system could use a fresh approach.

    I know, I can get all the information I need from my county website (do you know anything about New York, for example?) or from my friendly local MLS website. Or I can drudge down to the local courthouse and get just what I need there.

    Zillow will go away quietly, and all will remain status quo in the real estate industry.

    Keep dreaming!

  • kevinoutwest

    mary, I'd like to buy you a virtual drink.

  • reno_fan

    I don't Mary, the only nerve you've hit with me (personally...can't speak for others on the board) is saying that the "ENTIRE" industry is exclusive and in need of change. The fact is, our local market is quite "public" friendly. To lump everyone together and say that the whole system is due for an overhaul is insulting to those of us who live and operate in *good* systems. It's also insulting to assume that *all* realtors and their MLS systems are trying purposefully to withhold information from the very people they're trying to help. Personally, it's quite insulting also to speak of our system, and have you basically tell me that it must not be that way, "or else Zillow" yada yada yada.

    It must suc* to live in an area that still operates "old school", and I agree that those areas need to get with the times. No ones splitting hairs over that point.

    My point (and yes, there is one!) is that I take it quite personally when I hear broad statements about the WHOLE industry, and yet I know that there are areas that functioning quite well, and will continue to function quite well with the addition of Zillow, or whatever new thing comes along.

    Now....I'm off to bake Christmas cookies. Cookie dough is calling......

  • cpowers21

    Amazing. Perhaps I should be tarred and feathered, just because I think an ingrained, monopolistic system could use a fresh approach.
    I don't think so. I just think it's wrong to lump everyone together. Assume if there's one bad person, we all are.

    As for monopolistic, it's required information for job purposes. It's not a monopoly. All the information you need to know is on many websites. What is it that you think you are missing? The only thing you don't see are things that PERTAIN to real estate individuals.
    I do think that FSBO need one place to turn to (i guess that's monopolistic though) so that people can find them easier. But that will cost money. Unfortunately everything physical usually costs money. I fear that too much faith is being put on Zillow. I hope it does continue to be free. But I persnally had never heard of it until I got on here.

  • kevinoutwest

    "I just think it's wrong to lump everyone together. Assume if there's one bad person, we all are."

    Here's the point, it ISN'T just one bad person. It's a known fact the INDUSTRY has problems. Type words like "dishonest real estate practices" into Google. You'll get millions of hits.

    Check out what this Senior VP at a large firm admits, and he's even trying to put on a positive spin:
    "I'm furiously committed to the idea that expert, ethical, and talented brokers and agents are tremendously valuable to clients. But there's no point in pretending that every broker and agent is. In fact, so many people out there have had bad experiences with (alleged) real estate professionals, that making the case they are all good, in my mind, only serves to undermine the credibility of the speaker."

  • infodivamary3

    Thanks, Kevinoutwest, for the support.

    cpowers21, if you're a realtor and had never heard of Zillow until you saw it discussed here, you're far from internet-savvy. Zillow is now the 6th most active real estate site on the internet.

    Try it, and see the face of things to come.

  • berniek

    Ah, the RE industry problem comes up again. I have to agree with the Senior VP, not ALL RE agents are expert, ethical and talented brokers and agents. But MOST are, at least the ones I know.

  • Sully6

    I've known great agents and I've also met some bad ones. (Like the agent who sold my in-laws their home. Smelling an opportunity to get a dual-agency situation, he advised them to bid as high over the asking price as they could and told them they didn't need an inspection since the home was recently remodeled. Ugh and double ugh. Their fault for being naive, but he was pretty unethical!)

    Anyway, I definitely still see a place for agents. But I don't see how anyone can defend some of the practices of NAR or the local real estate agent associations as anything but anti-competitive.

    Take minimum service laws, for example. Their intent, according to NAR, is protect the consumer but their true effect is to to stifle those flat-fee agencies who now have to charge more for their services because state law requires them to do more even if the homeowners don't want it.

    Or the whole issue with rebated commissions. I think 20 states have laws on the books, lobbied for by NAR, that prohibit an agent from rebating part of his/her commission to the buyer. These laws are in fact being challenged by the Department of Justice.

    On the topic of Zillow, though, I find it somewhat useful. If you're enterprising and savvy, you can piece together the information you need from the site and a few others.

    I recently had my house reappraised by a firm in town and their value matched Zillow's. However, Zillow's estimate on the property I sold this summer was off by 10%. That property had a very outdated kitchen; if it had been remodeled I'm sure I could have gotten the price Zillow suggested.

    So that's one area I see it lacking in that a good agent can easily beat--really knowing the level of finish and other aspects that do affect price and comps. That's the kind of stuff that can't be easily synthesized from a database of lot size, square footage and number of bathrooms.

  • kevinoutwest

    "Ah, the RE industry problem comes up again." It never went away. It may be starting to get challenged by technology and homeowners being fed up, though.

  • cpowers21

    cpowers21, if you're a realtor and had never heard of Zillow until you saw it discussed here, you're far from internet-savvy. Zillow is now the 6th most active real estate site on the internet.
    If it doesn't have homes listed on it, I don't need to know about it. What purpose does it serve me if there are no homes on it? It's good for people that are looking to sell or buy. Now that there will be homes listed on it, I have it bookmarked.
    As far as bad agents, I know they are out there. But to lump everyone together is wrong. I've had bad doctors, lawyers, and even clients.....but I don't assume that ALL doctors, lawyers, and clients are bad. If I do this, I will be almost completely alone in this world. There are billions of people in this world. Even if 90% are bad doesn't mean I can lump the other 10% in with them.
    While the market was hot, there were a lot of people becoming agents just to make money. Now that the market has slwoed down, most of those agents have gotten out because they aren't making money anymore.
    Anyways, I have said my peace.

  • berniek

    Zillow will increase buyers and sellers cost. Once Zillow establishes a client base, it will sell those leads to Realtors. Realtors in turn will ad the cost of doing business to their clients. It's just business as usual.

  • infodivamary3

    Realtors in turn will ad the cost of doing business to their clients. It's just business as usual.

    No, not "business as usual" at all. It's my understanding that the Zillow business model calls for the site's cost to be paid for by ads on the website itself.

    In any event, I'm not exactly sure how realtors would add the cost of Zillow leads to their fees as you suggest will happen. Aren't fees already under pressure in most areas?

    But I'm sure they'd like to try!

    I am astounded that all the realtors on this board seem to insist that even with all the technological changes, it will be "business as usual" for the real estate industry.

    It's almost as if you folks have a sense of entitlement about your role in the real estate transaction.

  • berniek

    "I am astounded that all the realtors on this board seem to insist that even with all the technological changes, it will be "business as usual" for the real estate industry."
    Because everyone wants a piece of the agents commission, up to 40%, from referrals to relo companies to buyers and sellers. That will keep the agents fees higher. If technology can let the agent keep more of the fees and make him/her more productive, it will be a little pay raise for the agent, not necessarily a reduction in cost to the seller.
    p.s. don't believe that Zillow is not after part of the agents commissions, either by charging for advertising or a referral fee.

  • reno_fan

    I am astounded that all the realtors on this board seem to insist that even with all the technological changes, it will be "business as usual" for the real estate industry.

    It's almost as if you folks have a sense of entitlement about your role in the real estate transaction.

    Not a sense of entitlement, just a finger on the pulse of consumers (or at least those who want to use Realtors), and what they tell us day to day. I can't tell you how weird some people get about NOT wanting to see, meet, or have any interaction with the sellers of a house. (Strange, I know, but I see it everyday.) Even if the house was listed on Zillow for free, some buyers would NOT go see it without a realtor. So if we're coming across as smug, I don't think we mean to be. We just know the folks we work with, and we know our local markets.

    Your whole post seems to trumpet the death of the modern MLS. Yet, you've said it yourself; there are times to use a realtor. That realtor will use the MLS. It's the main tool that realtors use. They'll also use services like Zillow, TV advertising, etc. All the free listings in the world won't change the fact people get screwy about buying a house, and quite often want to work through realtor.

  • cordovamom

    I agree with reno -- I as a seller and or buyer of a home do not want to interact without the aid of a realtor as a mediator at the very least. People become so attached to their homes and become blind to issues that they cannot see but that a middle man/woman can see. It becomes personal, a personal affront, a personal insult, the realtor keeps it all business and helps to soothe egos and hurt feelings on both sides. Maybe I'm not the norm, maybe there are a lot of people that would want to interact with the seller of a home they're considering purchasing, but I for one do not and I'm betting there are bunches of baby boomers like myself that feel the same way. I've bought 7 homes in the last 30 years and never have I even looked at a FSBO home. I think I've learned enough through the years to be able to handle a real estate transaction without the aid of a realtor, but I happen to prefer using one.

  • infodivamary3

    Not a sense of entitlement, just a finger on the pulse of consumers (or at least those who want to use Realtors)

    You know, we really have no argument. I completely agree that there is a time and place for the professional realtor for many folks.

    On the other hand, there are times and places where realtor services are not needed or wanted, and Zillow seems on track to provide consumers with the market exposure for their houses that they need without forcing them to buy services that they don't want.

    Can we at least agree on that much?

  • reno_fan

    Oh I do think we agree on that much.

    Where the argument lies is within the context of Zillow *replacing* the MLS, and the MLS dying a slow and painful death. I've said all along that Zillow will be an enhancement, but not necessarily a replacement for the current MLS system.

    And I may have been wrong in determining your stance on the point, but in this post alone, you've mentioned at least 4-5 times that you thought the MLS system will become completely obsolete, and allusions to realtors being completely daft to not see it coming.

    My argument is that no, it won't become completely obsolete, because I work every day with people who feel exactly like Cordovamom. People that want to work with and through realtors. And if there are realtors, they'll have some version of the current MLS that they have now, as it is their main tool. My strongest argument is that no, I don't see Zillow completely changing the way real estate is handled. I see it broadening the choices, and I for one, think that's a good thing. If the public has a choice, then my services (IMO) have more value. But replacing it all together? That's where I disagree.

  • dreamgarden

    "Realtor.com - I found this inaccurate. The thing that drove me the craziest was searching. I would do a search for a 5 bedroom house on 2 acres and it would give me listings for 3 bedroom houses or a 5 bedroom house not on acreage."

    I agree. I rarely get homes with acreage when I search. It is also annoying to run across the same listing 3 or 4 times on a single page. I have seen some awful pics of houses I've been sorely tempted to call the seller about to see if they were aware of what is being shown on the internet. I'd never pay someone to market a house for me who uses blurry, substandard pictures that show things like garbage cans, vacuums, or the neighbors junk cars in the background.

    infodivamary
    I too will be glad when there are more choices for consumers. I am looking forward to being able to search the MLS without having to have someone hold my hand or send me information piece meal. While there are good real estate agents out there, I have not had the good fortune to work with any. Most of the ones I have run into do not LISTEN when I tell them what I am looking for. I went to an open house. The agent offered to send me listings for the type of property I am looking for. I specifically requested houses on acreage with woods. Nothing within a half mile of train tracks, freeways or airports. Of the 20 listings she sent, at least 4 of the listings were situated very close to any one of these. Is it any wonder why consumers want more, not less control the process?

  • berniek

    "I specifically requested houses on acreage with woods. Nothing within a half mile of train tracks, freeways or airports. Of the 20 listings she sent, at least 4 of the listings were situated very close to any one of these. Is it any wonder why consumers want more, not less control the process?"
    These criteria are to specific for most MLS. It is best to consult a realtor who is very familiar with your specific requirements in the area you selected.

  • infodivamary3

    These criteria are to specific for most MLS. It is best to consult a realtor who is very familiar with your specific requirements in the area you selected.

    Another way that Zillow will be superior, Berniek, thanks for pointing it out.

    A listing on Zillow will allow you to see the full address, as well as, in most areas, an aerial view showing train tracks, highways, airports, etc.

    No need to wait for a realtor to provide access to such information.

  • C Marlin

    "I specifically requested houses on acreage with woods. Nothing within a half mile of train tracks, freeways or airports. Of the 20 listings she sent, at least 4 of the listings were situated very close to any one of these. Is it any wonder why consumers want more, not less control the process?"
    These criteria are to specific for most MLS. It is best to consult a realtor who is very familiar with your specific requirements in the area you selected."

    Huh, isn't that what she did? She met an agent, gave her criteria, the agent ignored them (or spent 2 minutes plugging in her email addy to his computer). Yes, you can say it is not on the MLS, but doesn't the agent KNOW the area to weed out the ones that don't meet the criteria.

  • berniek

    "A listing on Zillow will allow you to see the full address, as well as, in most areas, an aerial view showing train tracks, highways, airports, etc."
    My 4 year old neighborhood only shows fields.

    "Huh, isn't that what she did? She met an agent, gave her criteria, the agent ignored them (or spent 2 minutes plugging in her email addy to his computer). Yes, you can say it is not on the MLS, but doesn't the agent KNOW the area to weed out the ones that don't meet the criteria. "
    Communication is a funny thing, it needs to go both ways to be effective, which obviously did not happen here.

  • berniek

    p.s.BTW IDM, our MLS has a mapping feature, which is up to date.
    We can do a search by top and side coordinates which are in 1-mile grids, which might explain the 1/2 mile outside undesirables of the given parameters.

  • miac23

    Berniek-

    I read a thread a while ago you had started. It was about what a realtor must do to list and sell a house and what should be expected of them. You listed all the things you do when you sell a home for a client and I was pretty surprised.

    At the time I was selling my first home and the agent I listed with was supposed to be the "best" in our area, however she did do half of the things you listed and I could rarely get a hold of her. My house sold, it was in a very desirable area and a nice home, it kind of sold itself because there were a lot of offers but knowing what I know now, I'm sure I would have done things differently.

    You said above that 90% give the 10% a bad name, those numbers aren't good. And because of consumer distaste with the industry that seems to have no quality control, I think Zillow has a place in the market. My big thing is how long before Google come up with it's own version? You have to remember that Zillow is still in it's alpha form, so would should see the beta being more accurate.

    Sure, things will change because the consumer demands it, but realtors will still have some of the market. My hope is that the said 90% will disappear. I think the most who will probably gain will be the RE laywers, or their industry will stay the same.

    I do think the internet has made the consumer more savvy, but I hope you realize ther just aren't enought realtors like you out there, and that actually works against your field.

  • C Marlin

    "Huh, isn't that what she did? She met an agent, gave her criteria, the agent ignored them (or spent 2 minutes plugging in her email addy to his computer). Yes, you can say it is not on the MLS, but doesn't the agent KNOW the area to weed out the ones that don't meet the criteria. "
    "Communication is a funny thing, it needs to go both ways to be effective, which obviously did not happen here."
    I do not follow your reasoning... I guess it is the fault of the buyer, right.

  • berniek

    "You said above that 90% give the 10% a bad name, those numbers aren't good."
    I disagree with that statement!!! I said that?
    "I do not follow your reasoning... I guess it is the fault of the buyer, right."
    What is so difficult to understand that communication has to go both ways to be effective? Either buyer or agent did not communicate well here. Or the agent forgot to pull the 4 of 20 listings that were at the edge of the search criteria, if it was done by using the grid co-ordinates method. Jeez, give it a break, the world is not coming to an end because of it, we are only getting one side of a story and buyers have been known to change their minds on search criteria.

  • C Marlin

    beniek, why do you continue to jump into discussions, then when you receive a response you don't like, you start attacking the poster as being stupid? Again you are blaming the buyer with no knowledge of the situation, sure the buyer could be in the wrong, but you don't know any more than what the buyer told us.
    Calm down, no one has implied that the world has or will come to an end, only that maybe some agents aren't doing a good job. I'm sure you can agree with that.
    If the discussion is too emotional for you, take a break.

  • berniek

    "...you start attacking the poster as being stupid?"
    Hmmmmm, your words, not mine!

  • cpowers21

    There are several reasons that could explain why the criteria was not followed. The agent may have not known the area or was new to the area and/or being an agent, the fact that these absolutely non negotiable points to the buyer may not have been entirely understood, and a buyer may not know what the area has for that price range. Sometimes too many restrictions causes the number of properties to become very low to non existent.

    It's the same thing that Realtor.com does. They know what you said you wanted. But sometimes when you see a house, you can forget about the things that didn't meet your requirements. That's why there's a match percentage. If there's something that meets all requirements, it get a 100%.....they displace the rest in case you couldn't find something that was perfect.

  • dssxxxx

    Zillow is useless.

    Looked at my home.......$450K, was offered $650K 2 months ago.

    Also, our best friends bought a lot in FL and starting building their home in September, 2004. They closed and moved in on July 9, 2005. When I looked up their address, it still showed an empty lot. LOL

    Zillow is LOL.

  • reno_fan

    It was mentioned upthread (I think) about the accuracy of Zillow as a database.

    They'd have to up the ante ALOT in order to garner enough trust from the public to use them as a main listing tool.

    It only takes a few absurdly wrong listing or assessments before confidence is shaken.

    The MLS isn't perfect by any stretch of the imagination, but at least there are rules/regulations and fines for incorrectly listed properties.

    It's quite frustrating when the problem does arise where a realtor hasn't changed the status of a listing in the MLS from active to "pending", a buyer gets quite excited about it, and then you find out it's been under contract and the realtor failed to change it. Heavy fines *do* help keep that from happening alot, so the accuracy of the data is trusted. With Zillow being so far out of whack right, I shudder to think how it'll be when all of those listings are added, and they are not monitored or regulated at all. Stale listings, sold listings, etc, will frustrate people to the point that they won't trust it. Alot of folks are already saying "Zillow is bunk" because of the accuracy of their data. (I'm not saying they won't come up to speed; I'm just saying that they'll NEED to for it to be a trusted, reliable source for the public.)

  • cpowers21

    That's one of the things that drive me crazy on FSBO sites. It never seems to be updated.

  • cordovamom

    Reno -- you make some very valid points, if Zillow is lackluster right now in updating data (some sub divisions have been in existence for 4 or 5 years and still can't be found?), then they're going to have to do a lot of improving on their existing data as well as have the diligence to keep new listings updated in order to garner the trust of savvy consumers. Outdated and inaccurate data is worse than worthless, it's downright irresponsible.

  • elanalv

    Interesting discussion on Zillow. They do seem to have quite a bit of data, including sales that aren't arm's length, foreclosures, distressed sales and others that are included in estimating values and that affects accuracy. Mass appraisal uses all the sales in an area to determine values but these types of transactions are excluded. They also have no way to take into consideration location, changes that have happened in zoning, and whatever other factors might affect value. So, it's only one of many tools to to use to look at value. I've used it to look at my house on there a few different times and it looks like they have much less data for my area though... not sure why as there have been several sales in the last 6 months that have happened right in my subdivision and they usually have almost all of the closed sales.

  • bici

    The first time I went to Zillow.com and checked my house, the photo they used was four years old (I recognized our old car in the driveway). I "took ownership" of the address and added a great deal of updated details. A few days later I received an e-mail from Zillow thanking me for participating and a bunch of other marketing stuff.

    Tonight I looked again and the photo has been changed to one that's only a few days old (Our current car, our neighbors' new car, etc.) They still don't have a "zestimate", however.

    I think if no one challenges what they show in their database, nothing is updated. Just sign in to make corrections on your own address, and see if the photo changes. (The appraisal won't, until there is a sale or new tax information.)

Need help with an existing Houzz order? Call 1-800-368-4268