Comments on: A Zillow Wager: A Dog of a Blog Bet http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/ Wed, 3 Dec 2008 03:12:54 +0000 http://wordpress.org/?v=2.3 By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26044 sellsius° Mon, 11 Dec 2006 02:04:23 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26044 Has no owner or agent asked zillow to allow them to hide an inaccurate zestimate? I understand you want to get the zestimates accurate but if they're not accurate now, why can't I have them hidden from potential buyers? I can't believe no one has asked for this option? Has no owner or agent asked zillow to allow them to hide an inaccurate zestimate? I understand you want to get the zestimates accurate but if they’re not accurate now, why can’t I have them hidden from potential buyers?

I can’t believe no one has asked for this option?

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26043 sellsius° Mon, 11 Dec 2006 02:00:48 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26043 Who makes the calls on this issue david? Who makes the calls on this issue david?

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26042 sellsius° Mon, 11 Dec 2006 01:59:52 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26042 I guess I'm going to owe you a t-shirt david. I guess I’m going to owe you a t-shirt david.

]]> By: David G from Zillow.com http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26030 David G from Zillow.com Mon, 11 Dec 2006 01:01:52 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-26030 Hi Sellsius, it's David from Zillow, What size are you guys and to what address do I send the Zillow t-shirts? Seriously though; free-to-consumer online estimates are here to stay. As you know, our API partners also display Zestimates with their listings - because consumers get it. Zillow strives to offer buyers and sellers the best of both of these worlds of real estate information. We will continue to invest in the accuracy of Zestimates -- and continue to build the web's best showcase for your listings. We believe that both are possible. Hi Sellsius, it’s David from Zillow,

What size are you guys and to what address do I send the Zillow t-shirts?

Seriously though; free-to-consumer online estimates are here to stay. As you know, our API partners also display Zestimates with their listings - because consumers get it. Zillow strives to offer buyers and sellers the best of both of these worlds of real estate information. We will continue to invest in the accuracy of Zestimates — and continue to build the web’s best showcase for your listings. We believe that both are possible.

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-25859 sellsius° Sun, 10 Dec 2006 06:00:43 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-25859 I can't disagree with your logic. It very well can become a FSBO MLS. Certainly FSBOS and agents will share the space. But FSBOs soon realize that there is a lot to making a sale happen than a handshake. Negotiating the best price, contracts, contingencies, inspections etc, etc require professional help. I just don't see the professional cut out by a site like zillow. Not in my lifetime at least. I can’t disagree with your logic. It very well can become a FSBO MLS. Certainly FSBOS and agents will share the space. But FSBOs soon realize that there is a lot to making a sale happen than a handshake. Negotiating the best price, contracts, contingencies, inspections etc, etc require professional help. I just don’t see the professional cut out by a site like zillow. Not in my lifetime at least.

]]> By: Christine http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-25054 Christine Sat, 09 Dec 2006 21:50:09 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-25054 How about - we DO use the word Transparent - Correct me if I am wrong - but the definition of transparency - A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing. So if disintermediation is the removal of intermediaries in a supply chain that means that you would be "cutting out the middleman" which had some type of intermediate (such as a distributor, wholesaler, broker, or agent), companies may now deal with every customer directly, for sale or not, so for example - the Internet. so, while everyone speculates and trys and plays with the AVMs and inputs their listings, they are in fact handing over the correct information that is need to just cut them right out of the pie. Greg talks about pie on his blog today - and while the buyers and sellers want PIE we must bake the pie. But - while we (Real Estate agents)are baking the "pie" - the consumers are going out calling the owners themselves. WHY? We gave them the right too. Do I think that Zillow will become the national MLS? Nope. BUT - I dont have a crystal ball - but I would think it could very well become the national FSBO Site - and hey ya know what - throw in a couple of Lic. Agents and "we can assist you to buy this home" tactics - and voila - agents are cut. Now, the avms that are so off - will be fixed! Why? Because the "pie" Bakers fixed them. People could say that I am opting for the buyers and sellers to remain uneducated and that is the furthest thing from the truth. It is easier to deal with a buyer who knows the market or a seller for that matter who knows how much their home is truly worth. But by giving the sellers the WRONG inflated information is wrong. By giving the buyers the LOW AVM is wrong too. There is too much back tracking that I have to do to correct the situation. How about - we DO use the word Transparent - Correct me if I am wrong - but the definition of transparency - A high degree of market transparency can result in disintermediation due to the buyer’s increased knowledge of supply pricing.

So if disintermediation is the removal of intermediaries in a supply chain that means that you would be “cutting out the middleman” which had some type of intermediate (such as a distributor, wholesaler, broker, or agent), companies may now deal with every customer directly, for sale or not, so for example - the Internet.

so, while everyone speculates and trys and plays with the AVMs and inputs their listings, they are in fact handing over the correct information that is need to just cut them right out of the pie. Greg talks about pie on his blog today - and while the buyers and sellers want PIE we must bake the pie. But - while we (Real Estate agents)are baking the “pie” - the consumers are going out calling the owners themselves. WHY? We gave them the right too.

Do I think that Zillow will become the national MLS? Nope. BUT - I dont have a crystal ball - but I would think it could very well become the national FSBO Site - and hey ya know what - throw in a couple of Lic. Agents and “we can assist you to buy this home” tactics - and voila - agents are cut.

Now, the avms that are so off - will be fixed! Why? Because the “pie” Bakers fixed them.

People could say that I am opting for the buyers and sellers to remain uneducated and that is the furthest thing from the truth. It is easier to deal with a buyer who knows the market or a seller for that matter who knows how much their home is truly worth. But by giving the sellers the WRONG inflated information is wrong. By giving the buyers the LOW AVM is wrong too. There is too much back tracking that I have to do to correct the situation.

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24984 sellsius° Sat, 09 Dec 2006 17:34:57 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24984 Exactly Christine. Anyone who has tried to sell real estate IN THE REAL WORLD knows what we're talking about. This is not a philosophical debate about transparency. The reality is it is distracting and interferes, potentially, with the marketing and sale of homes. It's another thing to have to explain to your client. It's a matter of owner, or their agent's, right/choice to not have inaccurate information anywhere near their lisitng, ESPECIALLY if it's grossly wrong. Zillow says zestimates are "a" starting point. OK why put a starting point (of unknown reliability) next to the price an owner is tryng to sell their home for. It's like having David G stand beside your house lawn sign with his own sign. (I have to photoshop that one) If something stinks, don't hold on to it to save face. Admit it's a bad idea and let's get crackin on lovin' those real estate agents. The weenies at the wheel just dont get it. I bet the VCs get it. This issue is so obvious to us, and others, we can't understand the logic otherwise. David G help explain it to us without using the word transparency. Transparent falsehoods (grossly inaccurate zestimates) serve no one. Besides, Z knows the real estate community had major issues with their valuation proclamations. Yet, they ask us to advertise despite that. Do they think those objections go away just because they give us a free venue to list? Agents listings will put real money in z's pockets. Zillow is now offering something of real value and yet they continue to muck it up. That's what happens when you get a statistician to market a house. Exactly Christine. Anyone who has tried to sell real estate IN THE REAL WORLD knows what we’re talking about. This is not a philosophical debate about transparency. The reality is it is distracting and interferes, potentially, with the marketing and sale of homes. It’s another thing to have to explain to your client.
It’s a matter of owner, or their agent’s, right/choice to not have inaccurate information anywhere near their lisitng, ESPECIALLY if it’s grossly wrong. Zillow says zestimates are “a” starting point. OK why put a starting point (of unknown reliability) next to the price an owner is tryng to sell their home for. It’s like having David G stand beside your house lawn sign with his own sign. (I have to photoshop that one) If something stinks, don’t hold on to it to save face. Admit it’s a bad idea and let’s get crackin on lovin’ those real estate agents. The weenies at the wheel just dont get it. I bet the VCs get it.

This issue is so obvious to us, and others, we can’t understand the logic otherwise. David G help explain it to us without using the word transparency. Transparent falsehoods (grossly inaccurate zestimates) serve no one.

Besides, Z knows the real estate community had major issues with their valuation proclamations. Yet, they ask us to advertise despite that. Do they think those objections go away just because they give us a free venue to list? Agents listings will put real money in z’s pockets.
Zillow is now offering something of real value and yet they continue to muck it up. That’s what happens when you get a statistician to market a house.

]]> By: Christine http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24977 Christine Sat, 09 Dec 2006 16:56:44 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24977 I agree Sellsius - It would be one thing to have your listings just posted onto the Zillow Site - But to offer a List price and a ZESTIMATE back to back - is absurd, its distracting and undermining the asking prices. Now are the bloggers going to say that the buyers know better and that their stupidity on believing Zillow is NOT the price? I would have been fine with the listing portal - but having listing price and the Zestimates is just wrong. I don't want the Zestimates there. I agree Sellsius - It would be one thing to have your listings just posted onto the Zillow Site - But to offer a List price and a ZESTIMATE back to back - is absurd, its distracting and undermining the asking prices. Now are the bloggers going to say that the buyers know better and that their stupidity on believing Zillow is NOT the price? I would have been fine with the listing portal - but having listing price and the Zestimates is just wrong. I don’t want the Zestimates there.

]]> By: sellsius° http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24964 sellsius° Sat, 09 Dec 2006 15:23:33 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24964 You and Lar are always welcome to post anything here, if you like. That Lar is a hoot, as are you---but sharp hoots. You and Lar are always welcome to post anything here, if you like.
That Lar is a hoot, as are you—but sharp hoots.

]]> By: Teresa Boardman http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24958 Teresa Boardman Sat, 09 Dec 2006 15:01:02 +0000 http://blog.sellsiusrealestate.com/residential-real-estate/a-zillow-wager-a-dog-of-a-blog-bet/2006/12/08/#comment-24958 hmmm, I like the idea. I just sent the wild and crazy blogging Lar an email=l, maybe we should try doing a couple of posts together. We do kind of click and actually talk to each other on one of those old fashioned phone things. He still does not understand the two hour time difference, but I think he can be educated. hmmm, I like the idea. I just sent the wild and crazy blogging Lar an email=l, maybe we should try doing a couple of posts together. We do kind of click and actually talk to each other on one of those old fashioned phone things. He still does not understand the two hour time difference, but I think he can be educated.

]]>