east bay real estate directory

On February 8, 2006, the real estate business is changing a little with the launch of Zillow (tm) (http://www.zillow.com). Zillow The goal is to simplify the search for the market value of a home.

Zillow is the creation of Richard Barton and Lloyd Frinke. You may have heard
Richard's latest project, the creation of the Internet travel site Expedia.

In his introductory press release, Barton says, "We should not think you need a computer
Science degree or a real estate license to find out what a house is worth. That is the reason why
We Zestimate values, providing free and immediate assessments of millions of
Houses in America. This beta is just the beginning ... Zillow tools is added
and services to empower consumers to smarter real estate decisions. ""

With Zillow, 60 seconds, is for everyone to find the current market value of
every house in the Zillow database - regardless of whether it is on sale (currently they have
Data for approximately 60 million households). Zillow calculates its ratings based largely on
publicly available data (taxes, etc.), which leads to some very interesting
Results.

In some cases, Zillow estimates seem to be exactly within the 10% margin of
Error they list on their website. Many of the tests ran and we have read, but
Zillow will show regularly before the mark by so much as a few hundred thousand dollars.
A lot of features never appears, my house included.

Regardless of the accuracy of the data (which we assume will be more
Zillow stays in business), the idea of Zillow is angering many real estate
Professionals who believe that the publicly available information such as this leads to success
their business in the crosshairs.

Good technology is disruptive, meaning it disrupts the status quo and forces us to
change (hopefully for the better) or be maintained. Whenever a new technology such as
Zillow comes, you can add it to one of two ways: optimistically or
pessimistic.

Let the selection of the former.

So how can you Zillow to your advantage?

Start with your largest asset (price information) to improve your biggest asset
(The value you deliver to the buyer and seller).

Zillow is focused on prices and makes that pricing information readily available to
anyone. And while price is important, it is only part of the purchase and sale of real
Estate.

Fortunately, your company is not solely on information. What good is
Information without the knowledge to interpret that information and turn it
into reality?

I could go out and buy the entire curriculum, from the Top Medical School in
Country, but the information that does not help me do so. Knowledge and
Experience necessary to make this information available in real value for me and others.

It is of the same nature, which for Zillow. Their aim is to ensure that the potential
Buyers and sellers understand.

Therefore there is only one way to Zillow work for you:

If the results carefully Zillow for properties that you know well, you will find
that it is particularly bad in line with major improvements, which
Properties, which greatly increase its value. This is just one of the holes that
there is now.

The next time you go to a listing presentation that Zillow results with you.
Study the report and use it to your advantage to the seller, how much
Value you bring to the table. Use the Zillow Zestimate (their word not mine) as
Teaching tool with the seller. Show them why or why not the data is accurate and
make it clear that your knowledge, they can spend more money or save it
out of frustration for sale to an inflated price.

Zillow Price can deliver, but you can figure.

And VALUE is what customers pay.

In the end, the fundamental principles remain valid. You get what you pay for. Make sure that
to communicate to your customers in every possible way and you will never
by the new technology, which comes next.

Jason Leister, the Real Estate Technology Guru (tm) is the owner of the Super-Computer Guy, LLC, a Chicago-based technology companies, real estate professionals with the technology.

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