Comments on: 4realz Exclusive: Realtor.com unleashes the Zillow killer and you… http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/ Authentic Real Estate and Internet Marketing Conversations Thu, 11 Mar 2010 00:41:21 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Realtor.com Turns up the Heat and… « 4realz.net http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2094 Realtor.com Turns up the Heat and… « 4realz.net Sat, 21 Jun 2008 17:02:51 +0000 http://4realz.wordpress.com/?p=669#comment-2094 [...] the boundaries even if I’ve been giving the team a hard time recently for other issues (see realtor.com home values and realtor.com blog hack [...] [...] the boundaries even if I’ve been giving the team a hard time recently for other issues (see realtor.com home values and realtor.com blog hack [...]

]]> By: Danilo apologizes for writing the 2nd post on AG that hammers REALTOR.com… « 4realz.net http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2093 Danilo apologizes for writing the 2nd post on AG that hammers REALTOR.com… « 4realz.net Fri, 20 Jun 2008 16:32:22 +0000 http://4realz.wordpress.com/?p=669#comment-2093 [...] 20, 2008 by Dustin …in two days and it reminded me that I’m about to hammer into REALTOR.com for the 2nd time in a short-while…  but I dont’ expect to appoligize at the [...] [...] 20, 2008 by Dustin …in two days and it reminded me that I’m about to hammer into REALTOR.com for the 2nd time in a short-while…  but I dont’ expect to appoligize at the [...]

]]> By: Realtor.com Worried About Dollars, Not Sense | agentgenius.com- national real estate opinion column http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2092 Realtor.com Worried About Dollars, Not Sense | agentgenius.com- national real estate opinion column Fri, 20 Jun 2008 04:08:09 +0000 http://4realz.wordpress.com/?p=669#comment-2092 [...] The values they’re spitting out are anywhere from somewhat to completely inaccurate. They are no better than Zillow or any other AVM out there. In fact, in many instances, Zillow was much more accurate. [...] [...] The values they’re spitting out are anywhere from somewhat to completely inaccurate. They are no better than Zillow or any other AVM out there. In fact, in many instances, Zillow was much more accurate. [...]

]]> By: Colorado Real Estate Listings http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2088 Colorado Real Estate Listings Tue, 17 Jun 2008 14:50:36 +0000 http://4realz.wordpress.com/?p=669#comment-2088 Unfortunately all computer generated valuation models still have to work out all the kinks. I from the tests I ran on Realtor.com, they are way behind Zillow on valuations. It should be interesting to see how quickly they catch up or if they implement some other features. Unfortunately all computer generated valuation models still have to work out all the kinks. I from the tests I ran on Realtor.com, they are way behind Zillow on valuations. It should be interesting to see how quickly they catch up or if they implement some other features.

]]> By: If Zillow Zestimates are Zilly, why is REALTOR.COM doing them too? (Audio) « Matthew Ferrara & Company http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2091 If Zillow Zestimates are Zilly, why is REALTOR.COM doing them too? (Audio) « Matthew Ferrara & Company Mon, 16 Jun 2008 15:37:06 +0000 http://4realz.wordpress.com/?p=669#comment-2091 [...] his initial post and my comment [...] [...] his initial post and my comment [...]

]]> By: Matthew Ferrara just left an interesting comment about Realtor.com Home Values… « 4realz.net http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2090 Matthew Ferrara just left an interesting comment about Realtor.com Home Values… « 4realz.net Sat, 14 Jun 2008 06:10:31 +0000 http://4realz.wordpress.com/?p=669#comment-2090 [...] [Ferrara's comment] [...] [...] [Ferrara's comment] [...]

]]> By: Matthew Ferrara http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2089 Matthew Ferrara Fri, 13 Jun 2008 21:17:45 +0000 http://4realz.wordpress.com/?p=669#comment-2089 Hi Dustin: Just a thought: Instead of just copying everyone else, maybe REALTOR.COM (and by extension, NAR) could make some decisions based upon market realities. And the reality is that Zillow (and other similar tools) are really inaccurate because the "conditions" on the ground are always so fluid that "estimates" based upon "market data" which is always stale because of "time" are really bad education for consumers. REALTORS should know better. Many consumers buy homes "regardless" of their estimated market comparable - and many sellers are able to sell for higher (or can't sell nearly the same as a computerized estimate) because of all sorts of NON estimated items - like poorly performing schools, local tax changes, crime, etc - NONE of which can be accurately reflected by a computer. Only by REALTORS who keep up with "the full marketplace" of issues that impact homes. How silly. Once again.,.. - Matthew Ferrara www.matthewferrara.com Hi Dustin:
Just a thought: Instead of just copying everyone else, maybe REALTOR.COM (and by extension, NAR) could make some decisions based upon market realities. And the reality is that Zillow (and other similar tools) are really inaccurate because the “conditions” on the ground are always so fluid that “estimates” based upon “market data” which is always stale because of “time” are really bad education for consumers. REALTORS should know better. Many consumers buy homes “regardless” of their estimated market comparable – and many sellers are able to sell for higher (or can’t sell nearly the same as a computerized estimate) because of all sorts of NON estimated items – like poorly performing schools, local tax changes, crime, etc – NONE of which can be accurately reflected by a computer. Only by REALTORS who keep up with “the full marketplace” of issues that impact homes.

How silly. Once again.,..

- Matthew Ferrara
http://www.matthewferrara.com

]]> By: John Rowles http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2087 John Rowles Fri, 13 Jun 2008 13:51:49 +0000 http://4realz.wordpress.com/?p=669#comment-2087 Instead of whining about the estimates, use them to your advantage, accurate or not. No one expects to pay exactly what the Blue Book says a used car is worth. Its up to you to show buyers and sellers that their mileage may vary. On our IDX sites, we use the Zillow API to show Zestimates and when Agents complain about a bad Zestimate we ask them why they think its off. The answers range from bad comps as cited above to something like "Well, Zillow doesn't know this place was remodeled with solid gold bathroom fixtures and their stupid software didn't bother to ask. Those bastards!" The remedy is simple: We tell agents to address the disparity in the property description on our Web site. Pretending its not there on the page isn't going to make it go away or prevent users from seeing it, so just say, "The asking is $40k over the Zestimate b/c Zillow doesn't know about the remodel with solid gold bathroom fixtures." Now the buyer knows that Zillow can be wrong AND you are DEMONSTRATING the value a real estate agent can bring by providing clarity. Instead of whining about the estimates, use them to your advantage, accurate or not.

No one expects to pay exactly what the Blue Book says a used car is worth. Its up to you to show buyers and sellers that their mileage may vary.

On our IDX sites, we use the Zillow API to show Zestimates and when Agents complain about a bad Zestimate we ask them why they think its off.

The answers range from bad comps as cited above to something like “Well, Zillow doesn’t know this place was remodeled with solid gold bathroom fixtures and their stupid software didn’t bother to ask. Those bastards!”

The remedy is simple: We tell agents to address the disparity in the property description on our Web site. Pretending its not there on the page isn’t going to make it go away or prevent users from seeing it, so just say, “The asking is $40k over the Zestimate b/c Zillow doesn’t know about the remodel with solid gold bathroom fixtures.”

Now the buyer knows that Zillow can be wrong AND you are DEMONSTRATING the value a real estate agent can bring by providing clarity.

]]> By: Kevin Tomlinson http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2086 Kevin Tomlinson Thu, 12 Jun 2008 02:24:26 +0000 http://4realz.wordpress.com/?p=669#comment-2086 I'm in agreement with comment #24 (even tho it's a pingback) Does anyone really care about REaltor.com? It's so not relevant anymore---and I helped pay for that cr*p. I’m in agreement with comment #24 (even tho it’s a pingback)

Does anyone really care about REaltor.com? It’s so not relevant anymore—and I helped pay for that cr*p.

]]> By: 4realz Roundtable: The Value of Home Values « 4realz.net http://4realz.net/2008/06/realtorcom-unleashes-the-zillow-killer-and-you/#comment-2085 4realz Roundtable: The Value of Home Values « 4realz.net Thu, 12 Jun 2008 01:51:31 +0000 http://4realz.wordpress.com/?p=669#comment-2085 [...] I’ve got something special planned for this week’s 4realz Roundtable.  In honor of Realtor.com’s release of the home valuation tool, we’re going to cover the value of online home [...] [...] I’ve got something special planned for this week’s 4realz Roundtable.  In honor of Realtor.com’s release of the home valuation tool, we’re going to cover the value of online home [...]

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