Zillow.com To Post Property For Sale
Seems like I've written quite a lot about Zillow.com in recent weeks. For those who don't know about Zillow.com, they are a Seattle-based internet site that allows home sellers and buyers to get an estimated value of property. Most of Zillow.com's information comes from county records.
Now, Zillow.com will allow property sellers and real estate agents to post offers to sell . The service is free. Users will be able to include photos of the property, prepare descriptions and provide a commentary on the neighborhood where the property is located. Sellers can set their price and prospective buyers can contact the seller through an e-mail system. If the property is listed by a real estate agent, the agent's contact info can be included and/or they can link the listing to their personal web site.
I suppose that many people will use this service rather than retaining the services of a professional real estate agent. Frankly, Zillow.com's pricing estimates for home values have always been questionable and I have urged many times that for accurate pricing one needs the services of an appraiser or a professional real estate agent.
Now Zillow.com appears to want to compete with the local Multiple Listing Services by providing selling information. I guess my question is this: Will the selling information be accurate? Changes made to listings in the MLS system must follow rules in order to put revisions (such as property price, terms, availability etc.) into the system. Usually, MLS is pretty darn accurate all things considered. Zillow.com may not offer such safeguards to insure its accuracy since it is a free, voluntary service. If a seller changes his asking price, will he remember to change his info in Zillow.com the way real estate agents revise their MLS listings? Frankly, we may have to wait and see.
Understand this: there's nothing at all wrong with this offering from Zillow.com and it probably deserves everybody's support. Let's just hope the info is accurate.
For more information on what's happening in real estate, visit my website at www.TheStPeteRealEstateSite.com.
Now, Zillow.com will allow property sellers and real estate agents to post offers to sell . The service is free. Users will be able to include photos of the property, prepare descriptions and provide a commentary on the neighborhood where the property is located. Sellers can set their price and prospective buyers can contact the seller through an e-mail system. If the property is listed by a real estate agent, the agent's contact info can be included and/or they can link the listing to their personal web site.
I suppose that many people will use this service rather than retaining the services of a professional real estate agent. Frankly, Zillow.com's pricing estimates for home values have always been questionable and I have urged many times that for accurate pricing one needs the services of an appraiser or a professional real estate agent.
Now Zillow.com appears to want to compete with the local Multiple Listing Services by providing selling information. I guess my question is this: Will the selling information be accurate? Changes made to listings in the MLS system must follow rules in order to put revisions (such as property price, terms, availability etc.) into the system. Usually, MLS is pretty darn accurate all things considered. Zillow.com may not offer such safeguards to insure its accuracy since it is a free, voluntary service. If a seller changes his asking price, will he remember to change his info in Zillow.com the way real estate agents revise their MLS listings? Frankly, we may have to wait and see.
Understand this: there's nothing at all wrong with this offering from Zillow.com and it probably deserves everybody's support. Let's just hope the info is accurate.
For more information on what's happening in real estate, visit my website at www.TheStPeteRealEstateSite.com.
-30-
posted by Terry Ward at 3:28 AM
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