April 06, 2006
Zillow.com - the end of real estate agents?
The real estate agent space needs a rather large cleansing. I read a while back that 2 percent of Californians have a real estate license. Are they selling them at 7-11?
Fringe travel agents are not missed nor are weak stockbrokers charging $300 per stock trade.
It is now only a matter of time for the real estate agents. Home sellers that embrace Zillow and the newly launched Google Real estate will price their homes better and sell without agents more often. Good agents will feel it, but they should. They are way overpaid. Buyers will be carrying Zillow printouts en masse. At least they should be. Smart agents will use the new service as a feature to their knowledge base and their own services.
Zillow will unlikely be the ultimate brand in this category. Congrats on paving the way to a neeeded change. Because they use Google maps, they will pave the way for a Google copycat or quick purchase.
What's next? Don't even get me started on the whole mortgage and title process. They are worse than Goldman and Merrill. Talk about a hidden fee scam. Can't wait for some internet mashup to stick it to them.