Is Technology Out to Get Realtors?

WILL ZILLOW KILL THE REAL ESTATE STAR?

I love technology. It makes my job easier every day. I am amazed at how effectively I can communicate with friends, clients, and others all from the cozy confines of my home office. So when Zillow hit the scene, why was I frightened? I think when you look at all the information that is available on the Internet for Buyers and Sellers a person could come to the conclusion that people don't NEED Realtors and the truth is...THEY DON'T!

At least not Agents who do little more than stick a sign in the yard and wait for someone else to sell your home. Certainly not Agents who pressure Buyers into homes they really don't want or need.

But in this info age where even RECENTLY SOLD LISTINGS are made openly available to the Public I have to say I am actually very happy. I think one of the negative opinions of Realtors evolved from the fact that at one time we were the Gatekeepers of Information. If the public wanted to see a listing, or even see what was on the market, they had to come to us. I think it must have helped create kind of dis-connect and bred a bit of smugness among agents. Easy for me to say, since I wasn't an Agent back then...and I certainly don't want to join in on the seemingly growing chorus of voices who have fun kicking dirt on my profession --believe me I know how hard the job is! But I think things like Zillow are great. Give the people all the information they need to make the right decision for themselves and they will be happy.

Our jobs, as Realtors, in my humble opinion is to provide the best possible service. We are the human element that can make a daunting task like buying or selling a lot easier- because- we are human. Technology will never replace what good Agents do. Whether it's showing people listings, providing our experience as negotiators, or just Listening to our clients, we will always be an essential ingredient that most people (but not all) will find worth it. So...will Zillow destroy us? They said the same thing about the Internet! Here's an excerpt from a recent article. Enjoy!

(Fortune Magazine) -- This is what usually happens the first time you visit Zillow.com: You type in your address to check out the Zestimate, an approximation of your home's market value. It appears in a little pop-up superimposed on a photographic map of your neighborhood. The number might make you smile; it could make you angry.

Next, you realize that the information on your property is incomplete. What about the kitchen upgrade? Your new deck? The landscaping? All that work's gotta count for something. You've spared no effort to convince the assessor that your house is worth less than the official report, but now it's time to primp. So you tap in some modifications and watch your home's value rise.

Next, you check your neighbors' Zestimates. Then your childhood home, a best friend's place, your boss's house. Just as you open your address book in search of more targets, your spouse calls out from the bedroom, wanting to know what the hell you've been doing for the past two hours. "Nothing, honey," you say, shutting the laptop and trudging off to bed, caught red-handed in a loop of real estate yuppie porn.

If you haven't heard of Zillow by now, it's probably because you don't own a home. Or maybe you're just not as prurient and narcissistic as the rest of us. The national real estate market is in flux: Prices fell last autumn; new-home sales have risen for the past two months.

But what does that have to do with you? Zillow knows. With 52 million house valuations across the U.S., the site attracts as many as four million visitors a month. In less than a year since launch, the Seattle company has become one of the Internet's biggest real estate destinations. There are many listing sites on the Web, but Zillow is more of a media play. It makes money by selling ads to brokers, banks, contractors, appliance retailers and anyone else interested in reaching data-obsessed homeowners and -buyers.

And now the company is trying to create something even more ambitious: a perfect market for real estate. Mix E*Trade, Craigslist and the Multiple Listing Service together, and you begin to get the idea.