Zillow released a new product today.
What does this mean for consumers?
1 – If you’re listing your house for rent on Zillow, it will cost you 10 bucks.
2 – When searching for homes for sale, you will be able to search by monthly payment – homes for sale and for rent.
3 – The spammy craigslist will see some real competition
4 – Eventually (I’d wager) Zillow is going to charge for everything they can.
5 – They’re still not accurate in the Charlottesville, Virginia real estate market.
6 – Zillow continues to innovate, and that’s a very good thing. Competition is good.
7 – Zillow is on track to have a comprehensive database of every parcel in the country.
Real estate blog roundup:
My notes from the phone call yesterday are below.
One property record for any property in the country* – House is either for sale or rent.
In the Charlottesville Current market – a lot of homes are for sale or rent. Being able to list a house only for sale or for rent will limit its effectiveness.
How do you scrub the data? Ensure it’s accurate?
Not launching with rental zestimates – they don’t have a rental database history
Rentals are a paid product.
Four million for sale listings. 3% are manually posted. That 3% will start to pay – will this drive out unrepresented sellers? (FSBO’s)
Potential comparable recent solds will pop up when sellers are manually valuing their own houses.
* Sounds like RPR.