Originally Posted by cobble
This IS exactly why Zillow must die. Nothing makes me want to scream more than when I am saying how well priced a property is (using my legitimate market knowledge) and a Buyer busts out with a Zestimate.
I'm surprised to hear that mls's are actually feeding data to these shlubs. My websites have syndication features... I think it's time to pull Zillow's plug.
I didn't have time this morning to read all 9 pages of this forum
HOWEVER, I did read enough to see that there are a lot of people talking about the "market" from a limited position. A few notes:
The Real Estate Market and Zillow (et. al) are absolutely closely related. Zillow, Trulia, and others are simply taking advantage of market weaknesses. If the Real Estate market does not exist for both buyers and sellers, then it has no purpose, and neither do real estate agents.
So, here's the deal. If people want Zillow, Trulia, and others to dissapear it is rather simple (though not immediate). It isn't done through a governing body or rules, it is done by real estate companies working harder to keep up with technology.
I can't tell you how many offices/agents I have worked with (and I work with thousands of agents) who have no clue how to use technology to benefit a client. They are stuck thinking that just because they happened to run into the person and they work hard, the person ought to pay them a commission...
Bottom line, if I am a potential client (buyer or seller) I will, of course be looking online. If Zillow, Trulia or someone else ends up "owning" the online real estate, and an agent/office/brokerage/company can't figure out how to compete online, it is the tough situation of survival of the fittest - even though they scrape the home data. Most agent's website providers that provide IDX services don't work that much harder than that to connect to the actual MLS, and most of them under-serve their agent clients by providing terrible tools as well - until someone with better technology moves in.
ahem... (jumping off soap box)