Zillow Extinct in 3 Months?
How about some bookmark love? ::
This week Move.com announced that they will provide complete access to sold data to the public from SoCal MLS. This basically means that actual sales data will be readily available to the anyone who wants it.
This also means that Zillow's technique of getting sales data from public records is instantly obsolete.
Zillow's model usually results in home values based off of incomplete and often inaccurate value estimations.
The real estate agents are responsible for putting up the sales stats that go into current or future home pricing, so why shouldn't they be giving their clients the same data?
I completely applaud this move since it improves the overall transparency in real estate, and will ultimately enable consumers to make better informed decisions regarding the sale and purchase of property.
On the one hand, this decision on the part of NAR is long overdue, but it is most welcome though the move to internet-ize real estate sales began at least 4 years ago.
Does this mean that the Real Estate Agent will also be extinct?
This week Move.com announced that they will provide complete access to sold data to the public from SoCal MLS. This basically means that actual sales data will be readily available to the anyone who wants it.
This also means that Zillow's technique of getting sales data from public records is instantly obsolete.
Zillow's model usually results in home values based off of incomplete and often inaccurate value estimations.
The real estate agents are responsible for putting up the sales stats that go into current or future home pricing, so why shouldn't they be giving their clients the same data?
I completely applaud this move since it improves the overall transparency in real estate, and will ultimately enable consumers to make better informed decisions regarding the sale and purchase of property.
On the one hand, this decision on the part of NAR is long overdue, but it is most welcome though the move to internet-ize real estate sales began at least 4 years ago.
Does this mean that the Real Estate Agent will also be extinct?
For a long time, R.com has been a joke and a rip-off for agents. I am glad to see they are making changes. As far as agents being extinct? I am pretty sure you know the answer to that one. :-) People desire much more than just data from an agent. Knowledge of the markets, trends, contracts, inspections etc etc. I think the industry is safe. :-)
Posted by
Nick Bastian |
8:14 AM
While the availability of more meaningful and informative data is increasing, there will always be a need for a local expert with intimate market knowledge to help analyze and interpret that data, and apply it, through professionally qualified counsel, to the unique needs of each particular client they represent.
Posted by
Real Estate Answer Man |
9:11 PM
I understand your comment about R.com being able to have more up to date data than Zillow now that they are getting sold data directly fromt the MLS instead of waiting for public records data. But isn't part of Zillow's "allure" that they have an algorithm that tells you what your house is worth? I'm not saying that their program work, because I don't think it does, but isn't their version different than just allowing consumers to sift through raw data.
Posted by
Geordie Romer |
5:34 PM