Comments on: Why I like Zillow and Redfin by ARDELL http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/ Seattle's Leading Resource for Real Estate Information Fri, 19 Mar 2010 04:38:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Magnus http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-11010 Magnus Thu, 10 Aug 2006 13:51:14 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-11010 Great post on an interesting topic. I'm involved doing something (somewhat) similar, in the Swedish real estate market, but for commercial properties. However, it is part of an DCF model and should be considered a starting point for ones analysis. Also first of all mainly focusing on multi-residential. Anyway, it's amazing how many people that are obsessed with the 'frist value'. Doesn't matter how much you try to explain for them that every single value could be updated by themselfes in seconds for a more correct(?) analyse. Thanks for a great blog. Stockholm, Sweden Great post on an interesting topic. I’m involved doing something (somewhat) similar, in the Swedish real estate market, but for commercial properties. However, it is part of an DCF model and should be considered a starting point for ones analysis. Also first of all mainly focusing on multi-residential.

Anyway, it’s amazing how many people that are obsessed with the ‘frist value’. Doesn’t matter how much you try to explain for them that every single value could be updated by themselfes in seconds for a more correct(?) analyse.

Thanks for a great blog.
Stockholm,
Sweden

]]> By: greg http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10977 greg Thu, 10 Aug 2006 00:58:29 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10977 Ardell, I agree that Redfin's website is great, in fact I wrote a blog saying that they deserved the INman award for innovation, but their model actually isn't that innovative to me. Just taking offers online? Six years ago I was a broker in San Francisco for Prudential California and we sold the first house ever online. It was a big deal back then but ahead of it's time. I think Redfin's map is the best online- but the model isn't that impressive to me. Even if I wasn't a broker I could tell that it's a tech company jumping into real estate, instead of the other way around. They are missing key elements, specifically touch. In february nobody outside of Seattle even knew who Redfin was- Zillow has been talked about and discussed and speculated about since last year and they hadn't even launched. That speculation and build up and then the enourmous undertaking of gethering and cyphering all that data, and the element that Zillow has more than any other real estate site, fun, is why they have so quickly become, and continue to be one of the most visited sites on the entire web. No comparison in my mind, as far as inspiring people to innovate in real estate. Ardell,

I agree that Redfin’s website is great, in fact I wrote a blog saying that they deserved the INman award for innovation, but their model actually isn’t that innovative to me. Just taking offers online? Six years ago I was a broker in San Francisco for Prudential California and we sold the first house ever online. It was a big deal back then but ahead of it’s time.

I think Redfin’s map is the best online- but the model isn’t that impressive to me. Even if I wasn’t a broker I could tell that it’s a tech company jumping into real estate, instead of the other way around. They are missing key elements, specifically touch.

In february nobody outside of Seattle even knew who Redfin was- Zillow has been talked about and discussed and speculated about since last year and they hadn’t even launched.

That speculation and build up and then the enourmous undertaking of gethering and cyphering all that data, and the element that Zillow has more than any other real estate site, fun, is why they have so quickly become, and continue to be one of the most visited sites on the entire web.

No comparison in my mind, as far as inspiring people to innovate in real estate.

]]> By: ARDELL http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10955 ARDELL Wed, 09 Aug 2006 18:58:29 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10955 Greg, Actually Redfin, in principle, deserves the credit for that The industry didn't respond until Zillow, because of the bucks and national exposure. But clearly if Redfin had the bucks behind them from the getgo that Zillow had...they would have been a stronger influence on the industry as a whole, and their website technology has been and continues to be, superior to Zillow's, by far. Greg,

Actually Redfin, in principle, deserves the credit for that The industry didn’t respond until Zillow, because of the bucks and national exposure. But clearly if Redfin had the bucks behind them from the getgo that Zillow had…they would have been a stronger influence on the industry as a whole, and their website technology has been and continues to be, superior to Zillow’s, by far.

]]> By: greg http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10953 greg Wed, 09 Aug 2006 18:17:29 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10953 Best part about Zillow is they energized the real estate and tech worlds into creating RE 2.0 experiences. They caused people to get creative, the discussions they created caused people to invest in real estate, oh, and their technology is pretty incredible. Best part about Zillow is they energized the real estate and tech worlds into creating RE 2.0 experiences. They caused people to get creative, the discussions they created caused people to invest in real estate, oh, and their technology is pretty incredible.

]]> By: Cheryl, Broker in L A CA http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10937 Cheryl, Broker in L A CA Wed, 09 Aug 2006 11:36:00 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10937 I like Zillow alot, too. And I find Zillow's "Value Range" on the "See Home Details" page is always a excellant starting point. One angle in L.A.'s softening market: We often remind sellers that buyers are checking the Zillow numbers ~before~ coming to see their property. I like Zillow alot, too. And I find Zillow’s “Value Range” on the “See Home Details” page is always a excellant starting point.

One angle in L.A.’s softening market: We often remind sellers that buyers are checking the Zillow numbers ~before~ coming to see their property.

]]> By: ARDELL http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10931 ARDELL Wed, 09 Aug 2006 07:10:30 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10931 The Zestimate of my house is climbing like crazy in the short time since Zillow's Opening Day. I just checked it again and it's up almost $100,000 since the last time I checked it. The Zestimate of my house is climbing like crazy in the short time since Zillow’s Opening Day. I just checked it again and it’s up almost $100,000 since the last time I checked it.

]]> By: Ubertor http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10928 Ubertor Wed, 09 Aug 2006 06:37:12 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10928 Excellent Post Ardell. I agree that Zillow is something that needs to be embraced rather than shunned. Zillow is not going away... with a new cash infusion and lots of great PR they are here for a while. Agents always ask us at our training sessions about Zillow and my response is always... embrace them.... if the Zestimate is correct according to you... great. Tell your client that. If it is off, (for whatever reason) let your client know why you think that. Either way, it is great that clients (leads) are checking out Zillow and doing some homework about their property. Zillow is not right or wrong, an agent is not right or wrong... at the end of the day a property is worth what someone is willing to pay for it. Excellent Post Ardell. I agree that Zillow is something that needs to be embraced rather than shunned. Zillow is not going away… with a new cash infusion and lots of great PR they are here for a while. Agents always ask us at our training sessions about Zillow and my response is always… embrace them…. if the Zestimate is correct according to you… great. Tell your client that. If it is off, (for whatever reason) let your client know why you think that. Either way, it is great that clients (leads) are checking out Zillow and doing some homework about their property. Zillow is not right or wrong, an agent is not right or wrong… at the end of the day a property is worth what someone is willing to pay for it.

]]> By: Tim http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10919 Tim Wed, 09 Aug 2006 05:23:53 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10919 Zillow is entertaining and informative in many respects. I enjoy Zillow because it can become tedious looking up tax & lending information at the county site---it's just not pretty. But, mostly I enjoy mulling through the sold data, that, until Zillow hatched, was not available to consumers online in a meaningful way. The 'accuracy shmackuracy' debate: it all depends upon what your objective is. They still don't have my house "sold data", so that's kind of strange being that I'm in their back yard. My wife and I particularly enjoyed the interesting e-mails from agents who apparently felt threatened by a Zillow link on our website main page, right next to <a href="http://www.raincityguide.com" rel="nofollow">Rain City Guide</a>, and <a href="http://www.Realtyobjectives.com" rel="nofollow">Realty Objectives</a>. The e-mails seemed to fade away ever since local real estate companies followed Zillow's coat-tails and posted sold data as well. And Redfin, what isn't there to like about the under dog? Seems like Redfin has been doing more business lately, too. Earlier this year I also liked Shackprices.com, particularly Galen's post on how real estate buyers seem to be turning into buying <a href="http://blog.shackprices.com/2006/05/17/the-new-real-estate-customer-is-a-do-it-yourselfer" rel="nofollow">do-it-yourselfers</a>. Zillow is entertaining and informative in many respects. I enjoy Zillow because it can become tedious looking up tax & lending information at the county site—it’s just not pretty. But, mostly I enjoy mulling through the sold data, that, until Zillow hatched, was not available to consumers online in a meaningful way. The ‘accuracy shmackuracy’ debate: it all depends upon what your objective is. They still don’t have my house “sold data”, so that’s kind of strange being that I’m in their back yard.

My wife and I particularly enjoyed the interesting e-mails from agents who apparently felt threatened by a Zillow link on our website main page, right next to Rain City Guide, and Realty Objectives. The e-mails seemed to fade away ever since local real estate companies followed Zillow’s coat-tails and posted sold data as well.

And Redfin, what isn’t there to like about the under dog? Seems like Redfin has been doing more business lately, too.

Earlier this year I also liked Shackprices.com, particularly Galen’s post on how real estate buyers seem to be turning into buying do-it-yourselfers.

]]> By: Galen http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10916 Galen Wed, 09 Aug 2006 04:43:50 +0000 http://raincityguide.com/2006/08/08/why-i-like-zillow-and-redfin-by-ardell/#comment-10916 HAHAHAHAHAHAHAHAHAHAHA! HAHAHAHAHAHAHAHAHAHAHA!

]]>