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.
(archived: 2010)
Real estate blog roundup:
Zillow starts charging for listings – 1000WattJoel (archived: 2010)
Zillow adds Rental Listings – Charges for them – Tribus (archived: 2011)
Zillow Adds Lease Search, Fills in a Critical Gap in the Their Offering – AG (archived: 2011)
Zillow to Go Head to Head With Realtor.com, RPR & Your Wallet? – AgentGenius (no longer available)
Announcing: Rental Listings and Search – ZillowBlog
Zillow Play Zanta – Craigslist finds a lump of coal – The San Diego Home Blog
My notes from the phone call yesterday are below.
Notes:
One property record for any property in the country* – House is either for sale or rent.
Target: Craigslist.
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?
Rental Zestimates?
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.
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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