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How Zillow Changed an Industry, with CEO, Spencer Rascoff

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Mortgage Professional America | 16 Apr 2012, 12:31 PM Agree 0
If you are a consumer looking to buy a home, you use Zillow. If you are a seller looking to understand where to price your home, you use Zillow. If you are a Real Estate agent, you use Zillow. If you are a curious neighbor seeking to know information about the homes nearby, you use Zillow.
  • Bob | | 17 Apr 2012, 07:44 PM Agree 0
    Zillow is so far off the mark when it comes to supposed home values, that it is not even funny; it's laughable.
  • Lori | | 18 Apr 2012, 06:49 AM Agree 0
    Our state is a non-disclosure state, meaning home sales prices are not made public. Zillow misleads many about the market value of their home. A friend used Zillow to establish what price she wanted for her home. Zillow suggested her value was 535k. The house sold for half of that. Another home shows Zillow's estimate at 79k. The home was sold for much more than that. Appears Zillow pulls their zestimates out of their rear end.
  • Virginia Hepp | | 18 Apr 2012, 10:39 AM Agree 0
    "It is a starting point; it is not a formal appraisal of your home"

    As long as consumers understand that ... Zillow can be a good place to start looking for a home - to buy or sell. I show my buyers how to explore the neighborhoods and recent sales on Zillow and get a feel for the neighborhood values. The correct information is there, the actual Zestimates are usually way off.
  • Gloria Commiso | | 20 Apr 2012, 07:30 AM Agree 0
    If you want to create controversy just start a conversation about zillow. What consumers don't understand is that it isn't really even a starting point for values when the information is collected by zip code. Appraisers, banks and agents use SUB areas for comparative market analysis. Further zillow doesn't consider, architectural style, upgrades, unique features, preferred streets, inferior location and many other intervening variables that affect value.
  • James Donovan | | 23 Apr 2012, 07:11 AM Agree 0
    I have the data aggregators in place to bring refreshed data directly to this platform. I bought shares in this Company because I have the vision to see what they can accomplish through market share and the penetration already achieved. Do I think Zillow's algorithm is efficient? That's is like asking if I like the camera angle my friend used, prior to uploading a picture of his daughter. Zillow is an internet hub, which has the capacity to reach out to the ends of the network.

    I have some new products being released that will benefit their data segment and provide new revenue opportunity. Like it or not, this is the industry leader in the space. Zillow should try to price a secondary offering now so the early insiders can be taken out. The additional raise should be put toward acquiring my company. LOL. They have the market right now and they are the gorilla. How they define the business model moving forward is the only missing piece of the puzzle. Oh yeah, "hello Mr. Pegg".
  • Movoto | | 23 Apr 2012, 03:29 PM Agree 0
    I think Movoto is way better. They have updated information and can get you agents that are pre-screened.
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