Love is the triumph of imagination over intelligence ~Henry Louis Mencken
Because I am a homeowner, I am not a Zillow lover. I’m not saying the whole site is a turn off (it’s not, by the way) but only that, IMO, it violates certain homeowner rights– including:
- how their home is marketed and advertised (with or without zestimates or Q&A)
- not have false or misleading information attached to the home (inaccurate zestimates)
I’m not the only homeowner who feels this way.
Dear Homeowner, Be My Valentine
The purpose of this post is not to harp on these infringements but to offer some constructive advice (Sellsius love) to help you Zillow do what no other website has done, other than arguably FSBO sites: MAKE THE HOMEOWNER YOUR PARTNER.
Now, Rich Barton may be a bright fellow but he has adopted the same tired old third party real estate website business model — peddle ads to fickle advertisers and real estate brokers/agents. This is not remarkable. This is not how to set the real estate world on fire. Heck, AVMs were old hat when Z released them– you only gave them a cute name and focused readers (irresponsibly IMO) on a specific number. Maybe it stems from Barton’s admitted lack of experience in the real estate industry.
What’s wrong with courting advertisers on a real estate site, you may ask. Well, advertisers have no long lasting devotion to you. If your traffic declines, they’re gone. No leads, they’re gone. The next thing you know, you’re in a hokey Pepsi Taste Test Challenge. Soon, you’re gone.
The only faithful person in the real estate equation is the homeowner. They have a vested interest in their homes and they love them. You can depend on the homeowner to be there for you– if you are only there for them. Besides, advertisers don’t love homes– they love traffic and leads. If you want to make a difference, show some love to the homeowner.
Love Means Never Having to Say “It’s just a starting point.”
From a homeowner’s point of view, Zillow is a heartless computer algorithm. Real estate is not about a physical house. Never was. Never will be. It’s about a HOME. A home where people create memories, raise families, experience joy and sorrow, share life. Hell, real estate IS life. But to the Zillowfied mind, hellbent on salvation through computer generated transparency, the home is a commodity that’s better displayed on a chart, spread eagle on a spreadsheet, bound in a Kelley Blue Book. It is this misguided approach which has brought Zillow eyeballs, but not hearts; press but not passion. Zillow, you break the homeowner’s heart every time you stick an inaccurate zestimate on their home.
Sellsius Love Advice to Zillow
So, I give this valentine post to you, Zillow. It is meant to soften your hearts to homeowners, so homeowners may come to love you. And here’s a little secret folks — homeowners own the listings which they hire out to brokers and agents. Win the homeowner’s heart and you win their brokers and agents.
Love Begins With Giving
Now, how does Zillow build a love with homeowners. Well, start by sending every homeowner in America a dozen roses (just kidding, but only a little).
Before you can expect homeowners to buy into your system, you have to give them something they value (hint: they are not zestimates). So,start by giving homeowners back their homes:
1. Zestimate Opt Out
Give homeowners the right to opt-out of the zestimate for their homes, at least when they list a home for sale. Now, you may sincerely believe it is good for mankind (you really mean buyers) to have guesstimates on folks’ homes but to the homeowner desperately trying to sell their home, the zestimate starting point can be a real obstacle to their marketing. Give the homeowners the power to choose transparency. You will find that homeowners are basically honest and will want to eliminate only the clearly erroneous zestimates. You have to trust me on this one, Rich.
2. Become the Real Home Valuation King: Use People
A. Free or Discounted Appraisals
If your goal in creating Zillow was really to value homes, why stick with machines which can only spit up starting points? Do you really want to be in diapers after 3 years (carrying around a load of crappy zestimates)? Become more than a starting point in home valuation– aspire to be the ending point.
Offer homeowners an appraisal from a human being, at a substantially discounted rate (or free if possible). Use your directory and ask appraisers to volunteer for the program.
Your goal is to appraise EVERY home in the country– sound impossible? It isn’t. It is remarkable because it’s never been done. (what’s impossible is sending a package across the country overnight). People will take notice… and take you up on your offer.
B. Free CMA
Have homeowners sign up and request a free CMA. Then let the directory of agents reach out and offer to schedule appointments. Apply the MMP concept to CMAs.
This face-to-face connection with an agent is a much better lead generator than filling out a form with fake names and email addresses (hey, Trulia, how many of those leads were phoney? C’mon, tell us.)
Once you give homeowners REAL valuation for their most prized possession, they will fall head over heals for you and use you for other things relating to their homes– home improvement, maintenance, etc. Once you have the homeowners’ hearts, the brokers, agents and advertisers will follow. Heck, with a say in their home value, homeowners will insist their agents list the homes on Zillow.
3. Don’t Stay a Starting Point– Be the Points in Between
Most real estate sites are only concerned with the buy and sell– a list it, click it strategy. This is fine. But if you want to go beyond the routine, start a Service Magic type referral or matchmaking service for the other professionals involved in the industry– attorneys, insurance, title, contractors, home stagers, designers, architects. Why have a professional directory if you don’t encourage its use by homeowners.
Again, be more than a starting point. Move beyond the buy and sell. Become the points in between the buying and the selling– home improvement, maintenance, insurance, etc. Heck, give homeowners a blog to catalog their ownership– purchases, warranty dates, etc– an online home journal that can go with the house.
So there you have it, Zillow. A little love for the holiday.
Technorati Tags: zillow, home valuation, real estate marketing, appraisal, real estate agent, CMA
