Zillow Goes After An Area That Real Estate Agents Can't Touch
from the too-hot-to-handle dept
The rise of online real estate services like Zillow and Redfin has been a thorn in the side of real estate agents, who have voiced displeasure at the affront to their cartel. The basic tension stems from the fact that these services attempt to get around the professionals' control over real estate information. Now Zillow is looking to attack the industry from another angle. For various legal and ethical reasons, real estate agents aren't supposed to talk about certain details of a neighborhood, like demographics or crime rates, even though this stuff is pretty pertinent to would-be buyers. So in addition to its basic real estate data, Zillow plans to launch 6,500 new sites based around specific communities, where users can exchange information that they can't get from real estate agents. Going in this direction clearly makes a lot of sense, since it's a weak spot for real estate agents. If Zillow can use its existing position to become a home base for this kind of information, it should prove useful to people in the real estate market.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Filed Under: real estate
Companies: zillow
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Here's What They Need To Know
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Re: Here's What They Need To Know
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Fine line...
Zillow's going to have to be careful about this. I think they'll do well, but they need to be careful.
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Antiquated ethics and legal issues
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Real Estate Shakedowns
If the person that bought the house 2 years ago paid in full for a title search, why do I need to pay "In Full" for the same search going back 200 years. Why not the 2 years since the last search.
If that's not bad enough, after I pay a "certified" title searcher to do the search, I need to pay for "Title Search Insurance". If I pay a "certified" electrician to do electrical work and it is not right, they are responsible, because they're insured. I don't have to by electrician insurance. What was I paying for in the first place?
The whole thing is just a scam.
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Re: Real Estate Shakedowns
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Re: Real Estate Shakedowns
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Finally--useful info!
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Re: Finally--useful info!
Besides, it works both ways. Soon people will be talking about bigots like you in their neighborhood on Zillow!
See more information always works both ways!
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Re: Finally--useful info!
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Racist B.S.
two black families, The rest are white,including me. The "Offending" race's (according to "The Stockbroker") Have clean
yards, decent kids, and really make an effort to care for our neighborhood. Well hey Sal, ever heard of white-trash? that's
the reason my block has problems, so I'd be more than happy to send 'em all your way.......
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Non-transferable Reports
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Re: Non-transferable Reports
I doubt the poster knows anything or hired a corrupt agent in the first place. IN FACT ALL REALTORS MUST DISCLOSE OR THEY ARE JUST HACKS.
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Re: Non-transferable Reports
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Re:
Thanks Joseph for the information. Bless You!
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Inspection
Another good resource is the sex offender registry, if there is one. Of course, it is the unregistered sex offenders you should worry about.
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Re: Inspection
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Re: Re: Inspection
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Re: Re: Re: Inspection
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Re: Re: Inspection
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don't they already have this?
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Thanks ... and a correction.
Thanks for this review. We're very excited about expanding the Zillow community.
I need to point out that Kevin is correct; this article is misleading regarding Realtors and their opportunity to participate in discussions about neighborhoods. A real estate professional is a GREAT source of neighborhood information and there's nothing stopping them from sharing it though I think I understand where the confusion comes from -- the Fair Housing Act requires that someone who advertises real estate for sale not state discriminatory preferences in their advertising -- but that applies to both sellers and agents.
Real Estate professionals are some of the most active and helpful contributors to Zillow.com -- and reading their posts is a great way to identify a Realtor you'd like to work with.
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I've Seen This...
Second...I am closing on my house (townhouse) tomorrow. During the process, I asked the selling realtor about the family living in the T.H attached to the one I was looking at. He got all spooked and refused to even tell me if they were young, old, or middle-aged. I finally asked him if he wouldn't tell me because they're black? He zipped right up. When looking at the house later, I discovered I was right. My realtor laughed and told me that if I had taken that information and decided not to buy because of it, she could file a complaint against him and get his license pulled. Stupid rules.
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Re: I've Seen This...stupid rules
Also, if a person dies in a house, we must disclose.. unless AIDS WAS THE CAUSE... PC or what....
so many federal rules issued
IN CALIFORNIA, agents cannot represent buyers if a NOD is filed.. some exclusions but not the norm. So the ones who might get help are screwed over.. lose the house.HONEST, YOU will not believe all the stupid laws
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oh...one more thing...
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Brian -
The FHA regulations are complex to understand and so in an attempt to rather be safe than sorry, most Realtors are taught a vocabulary of words to avoid altogether. So they often take it too far but frankly I don't blame them.
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Re: Brian -
We cannot say: Family neighborhood, Executive home... you get the picture? Multicultural.... next, we won't be able to say close to synagogue.... wait, we can't now.....
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The federal government can levy hefty finds of tens of thousands of dollars and often send in undercovery decoys to "test" Realtors and play "gotcha".
Any wonder many of them refuse to answer questions? Who wants to be taken to federal court and sued? It's not the National Association of Realtors forbidding awnswering these kinds of questions, it's the fear of innocently violating the Fair Housing Laws just by truthfully answering some questions that make some Realtors clam up, in case they're being set up by a federal agent.
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Zillow Valuation
920 Amanda Dr Mansfield TX 76063
3 beds, 4.0 baths, 4,172 sq ft;
ZESTIMATE™: $648,079
It sold by a realtor and closed on 8/28/07 for $415,000.00
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Connecting to Zillow
I can't access the site from my work computer firewall(websense) come on you guys where's the back door to this site. Can I trust the Zillow estimate on my houses value?
Also, one thing that really has me pissed off! When I bought my house I paid for the survey and when I got to the house I was surprised to find there were no boundry stakes. My lot is on an angle and now I want to put a fence up and guess what I have to pay for another damm survey!! I asked the title company what the hell was going on and what did I pay for They gave me a sheet of paper with a drawing of my house and the measurements. Told me it would have cost an additional 60.00 to have it staked so they didn't bother. Now I can't tell if my neighbors are encrouching on me or not!!! Buyer beware!!!
Brian
PS Anybody know a cheap surveyor!
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Zillow
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Zestimates of out of work agents
I just started a new job with a regular income.
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value
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Re: value
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Zillow values
First, if there is something different/unique about your house the Zestimate won't recognize it, so you are left to your own devices to let potential buyers know what is unique. Second, the data is not always correct - it shows my home as a 3/1 built in 1969, but in fact ours was the first home ever built on the property in 2003 and is a 4/2 - not sure why the discrepancy, but it lowers my Zestimate substantially. Third, I have a single family home on the first street in my neighborhood, and because of the way Zillow works, it is comped to condos & villas in the adjoining neighborhood as well as homes in a neighborhood on the other side of the tracks because of its proximity, rather than homes within my 'neighborhood' - which also substantially lowers my Zestimate.
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Zillow Sucks
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Mapping database problem
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It's what people want
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zillow sucks
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Zillow's Inaccuracies!
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Zillow's Inaccuracies!
In the Catalina Foothills, it is either 100k high or 100k low or somewhere in between but always wrong!! The public thinks that a nationwide website is authentic,credible and correct--not so fast, Mr. Zillow, you have none of those attributes--your disinformation just confuses the public which is NOT NICE!
Kendall "Kandy" Walsh
Long Realty
Foothill Office
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Re: Zillow's Inaccuracies!
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Their system is crap and more should just admit it. Zillow's comments that they are a "starting point" only just fail to recognize the depth of the flaws in their model.
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Zillow is a great idea
I think real estate agents are dinosaurs and quite unnecessary in the real estate buying and selling process. Agents are receiving far too much $$$ for each home transaction. Fees of $10,000, 20,000, 30,000 per sale, in this day and age, are unjustified. Agents are not putting in THAT many hours or doing anything so complex that justifies such fees.
Three cheers to services such as Zillow and may continuing innovation and technology make us all savvier consumers and sellers.
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They fo now know what is in the backyard.
They do not know what the home improvements are.
How can they estimate.
Spread the word "SHUT DOWN ZILLOW"
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Zillow is a great idea
There's a fine line between giving buyers useful information and committing housing discrimination via steering. That's why legit Real Estate agents are so skittish in most areas - the fair housing laws are kind of broad and something that seems innocent enough to you and me (how's the school district?) can turn into litigation at the drop of a hat.
Zillow's & webuyswflhomes.com/ going to have to be careful about this. I think they'll do well, but they need to be careful.
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