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There is no regulation on any of the data the post. It is often incorrect or old information that I as an agent have no way to control or change. I would like to see those companies removed from MLS feeds of any sort altogether. The buyers would still have have the same data, just available through other sources.
Another disservice to the seller is in photos. This time of year in particular I take down any winter pics and add new spring or summer photos of homes. They look so much better with the green grass & lush landscaping.
Since (I don't believe) they don't re-download pics the house stays on other sites with snow on the roof. Nothing worse and a major turnoff is seeing a winter pic in the middle of the summer.
Is this doing the client true justice in selling his home ? Does this hurt or help the house ? It hurts having bad info on other websites.
Mike's brother lists his home with KW and Mike J. A potential buyer loves the house he sees on Zillow who forwards the lead to me because I have a referral fee agreement. I know nothing about the house or area but tell the buyer I understand that subdivision is in a very poor foundation area but there is another area just 2 miles away (with my 7 Brokers listings) that is actually priced so much better. Without lying, it's fairly easy for any expert to redirect the the uninformed public.
I just converted an interested buyer from buying Mikes Brothers very nice home to possibly buying my listing or just becoming my client.
What's more important for a seller ? Having their home sold to the prospective buyer by the expert who knows the house extremely well or a competitor converting that buyer into their client ?
2 comments (I know, I said I would be quiet).
1. That seems like an agent problem. Not a website problem.
2. I would have thought most buyers already have an agent.
1. That seems like an agent problem. Not a website problem.
2. I would have thought most buyers already have an agent.
1. You are not wrong.
2. You may be wrong. A great many people spend significant time on the internet without an agent.
The business model for these sites is only to generate income via clicks and ads, not from selling properties. There is no compelling reason for presentation of the properties.
Presentation is amateurish at best, with few photographs, and little primary focus on the property.
The reason for existence is to sell ads and leads to agents and lenders who will pay for them. And there is not ethical framework in existence for the sites.
You list a property for $400,000. You've done the research, and that price is absolutely justified by recent sold comps. ...... Somewhere on that page, in clear view, right near the property you are trying to sell for $400,000 is the button that lets visitors request that sites estimate of what the property is worth. When clicked, it says that the estimated value of the property is $345,000. That estimate is based on who knows what set of criteria, no one associated with that estimate has ever seen the house, and this company's cutely named estimate is well known by people in the industry to be grossly inaccurate.
Has the seller been helped or hurt by their property being displayed on this site?
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.
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.
How do we convey to consumers that Zillow is NOT a real estate site, but a thoroughly monetized ad and click site that uses real estate as a vehicle?
Thanks for the replies... interesting examples I didn't think of.
I do agree that the "valuation" aspect of Zestimate is horrible, but I get conflicted with "control" over data. My current situation has me thinking like a buyer.
Thanks for the replies... interesting examples I didn't think of.
I do agree that the "valuation" aspect of Zestimate is horrible, but I get conflicted with "control" over data. My current situation has me thinking like a buyer.
IMO, It's no more then any retail or service keeping their private data private.
Your example of one builder not advertising other builders homes is pretty right on. If I'm looking for new construction I might visit the websites of each Builder individually and contact them directly. If I call Toll Brothers about a David weekly home I'll find out pretty quickly that what I really want is a Toll Brothers house (according to their salesman).
It really would benefit the large to medium Brokers who can afford outstanding websites, have the name recognition and afford the advertising. It would hurt the small independent who has limited funds and limited inventory to promote. The large companies could easily keep those little guys from attracting new listings because they don't have the quantity.
Without feeds would Rakin Realtors compete with ReMax for web traffic or promoting his listings ? Nope, I need ReMax to pick up my listings more then they need me to pick up theirs.
I like Zillow. The interactive map is great and the listing of past sold prices and taxes I found to be very helpful. And on Trulia the price reduction feature is also very nice.
I like Zillow. The interactive map is great and the listing of past sold prices and taxes I found to be very helpful. And on Trulia the price reduction feature is also very nice.
I think this is what my issue is... I like many features of those sites as a buyer - but would those same features be attractive to sellers and would those features provide the best light and best possible price for the property?
I think that people use 3rd party websites as a general property search because there is an array of information and easy to use interfaces that franchises/realtor websites lack, however, I don’t think that consumers are going to totally rely on information on these 3rd party websites, they will eventually figure out that some of the data is incomplete, lacking, or expired, thus look for the broker/franchise website for more information if a link is available.
A lot of thought goes into the purchase of a home, people are a lot smarter these days and have more information at their fingertips to do the research, however I do feel that most will ultimately seek their local real estate professionals respectively.
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