Trulia headed for success, while Zillow going to flop? The Industry Standard…
“Zillow is so 2006. The business model is based on advertising CPMs, and now that the real estate bubble has burst, it’s much less fun to track the (sinking) value of your home. There’s more competition as well, including Trulia and Redfin.”
On Trulia’s success:
“If location, location and location are what real estate is all about, then business plan, business plan and business plan are why Trulia is rising to the top.”
About the Author: Dustin Luther
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I’d like to see how Zillow’s upcoming mortgage product performs before passing judgment on them.
I’m looking forward to Zillow’s upcoming mortgage product as well… It should definitely be interesting.
Thanks for the link Dustin; I just replied. I guess you can’t have every one of these go your way but man that Zillow profile was poorly researched. C’est la vie.
Oh well – c’mon mortgages!
In talking to a major franchisor recently, they revealed that they had the inside scoop that Trulia was generating revenues 3-4x what Zillow was doing. My conversation was this past month and the franchisor executive was basing it on his meetings with both companies in the second half of 2007.
I’m not going to disclose whether this entity decided to distribute their listings with Trulia and/or Zillow as that would give it away.
But clearly they were influenced by the long term viability of one of the companies and its business model versus the other.
I wonder if Zillow and other similar sites anticipated that people lose interest in finding out what their home values are, once the market headed in the other direction – interesting.
I’m curious to see if a similar fallout occurs with real estate investors – in theory, more investors ought to be diving in as the prices drop and deals are everywhere, right?
I’m on the Board for the NH Real Estate Investor’s Association and we haven’t felt a drop in members, if anything we’re continuing to grow, although we’re a relatively new (4 yrs old) organization with 400 members. With the banks now offering deeply discounted packages of REO properties (finally), once these hit the market nationwide, we may see some even bigger drops in prices.
Burn your TV….. go find a deal,
Richard
Chief Deal Weaver
http://www.BlackWidowNetwork.com
For me, as a real estate agent, I find that Trulia is more useful. I like the interactive map feature, and being able to target for sales and solds in any area of my community on the map. It is so user friendly.
Err, doesn’t anyone else find it ironic the Industry Standard is predicting what will succeed and fail?
Niki: I think that’s my favorite part to the story!
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