I have written often about Zillow .
I think it is funny and disarming the way they call their site BETA. They have raised $57 million and are deeply integrated into Yahoo Real Estate. The only people who don’t see this train coming are the big, fat, useless agencies and the teams of underqualified, overpaid agents.
Zillow has attacked from a little corner of the real estate market through a Google Map mash and now has the potential to be a real estate juggernaut.
TechCrunch has covered Zillow often and well and has a good update on a new feature. In a nutshell:
On Wednesday morning they are releasing new features which will allow users to contribute updated and detailed information about their own homes to Zillow’s national database.
I see Zillow going vertical and fast. This feature is something that will get users to do KEY HEAVY LIFTING that will allow the Company quick access into areas like brokerage. Millions of homes for sale by Zillow would help brand, bringing new users on-line in a positive viral way.
Can’t happen fast enough for me. Just don’t turn this into a social networking site :)
UPDATE – I have been remiss in not mentioning another big player in the real estate space – Trulia . This afternoon, Om Malik is reporting on major upgrades at Trulia .
I don’t care who wins – I just want change :)
They have to allow homeowners to input data because all of the data they input is wrong. LOL. Was that the $57 million invested? So, now we go the Wikipedia model because they realize all of those hamsters inputing wrong data didn’t work? Well, Wikipedia is successful because a core group of a few thousand global users are key to updating it. Getting millions of homeowners to update Zillow is a stretch in my estimation. Give me $50 bucks and I’ll update my home. Let’s see. How much would that cost them to advertise that they’ll pay me then actually pay me? What’s the ROI on that? I’d rather buy a McDonald’s franchise and sling burgers. Better yet, a Chipotle. :)
That said, there will be fits and starts in an attempt to transform the home selling process and this may end up playing some role. Their best bet may be to try to turn this site into some type of e-realty or a national service to discount realtors or homeowners wishing to list themselves.
It’s funny but my experience with real estate agents is also that they are big and fat. LOL!!!!!
BDG – you are just too skeptical but funny
You always make great arguments, but consider your background and training and have some respect for some vision that makes this country great my friend.
I see Zillow going vertical, but I doubt they’ll get into the buying and selling of homes. Their willingness to do deals with big brokers like Prudential speak to their stated goal of playing nice with the RE industry.
That’s not to say that the RE industry doesn’t need reforming. It does. I just wouldn’t count on Zillow to do it.
Maybe you should than :)
Thanks for dropping by. I have been remiss in not talking about Trulia.
I was a small investor in rent.com so I have seen this whole space grow.