Zillow.com... another data company
Revolutionizing the real estate industry has become something of a spectator sport the last few years. Dozens of new and exciting companies have risen up to lead the way and they have all become the same thing: another real estate company.
The reason there has not been some incredible breakthrough in the industry is that it is not broken. Sure it is changing and evolving, but all industries are. Real estate is consumer driven. And it is local. The consumer drives the business and the consumer drives the innovation in the business.
Zillow, along with so many other companies will say that the consumer needs a new online experience. Yeah, well what does that mean?
It means more data!
It means they're going to give people more information, because obviously THAT is what is missing from the real estate transaction. Information is soooo hard to get these days.
The value of a Realtor today is not soley in the information they possess. It is in their negotiating contracts and coordinating inspections and appraisals and the closing and protecting their clients through disclosures and engineering reports. It is facilitating the process. And it is in taking someone's hand as they guide them through the largest investment they will ever make. It is in fighting for property rights and protecting the aesthetics of a city and getting involved and assisting with city planning. And you cannot get that from the internet.
The travel industry could be changed the way it was because buying a plane ticket is not an emotional decision. Buying a home is. Selling a home can be also. Will their new online experience help balance two people fighting through their divorce or a grieving family who needs to sell the home of their parents who just passed away and now need to sell but two of the five children do not want to?
People will utilize the services of a Realtor for the same reasons they utilize the services of an attorney. Sure you can represent yourself, but it makes so much sense to let a professional help you. And no matter how incredible the online experience is, you can't replace the human experience...
The reason there has not been some incredible breakthrough in the industry is that it is not broken. Sure it is changing and evolving, but all industries are. Real estate is consumer driven. And it is local. The consumer drives the business and the consumer drives the innovation in the business.
Zillow, along with so many other companies will say that the consumer needs a new online experience. Yeah, well what does that mean?
It means more data!
It means they're going to give people more information, because obviously THAT is what is missing from the real estate transaction. Information is soooo hard to get these days.
The value of a Realtor today is not soley in the information they possess. It is in their negotiating contracts and coordinating inspections and appraisals and the closing and protecting their clients through disclosures and engineering reports. It is facilitating the process. And it is in taking someone's hand as they guide them through the largest investment they will ever make. It is in fighting for property rights and protecting the aesthetics of a city and getting involved and assisting with city planning. And you cannot get that from the internet.
The travel industry could be changed the way it was because buying a plane ticket is not an emotional decision. Buying a home is. Selling a home can be also. Will their new online experience help balance two people fighting through their divorce or a grieving family who needs to sell the home of their parents who just passed away and now need to sell but two of the five children do not want to?
People will utilize the services of a Realtor for the same reasons they utilize the services of an attorney. Sure you can represent yourself, but it makes so much sense to let a professional help you. And no matter how incredible the online experience is, you can't replace the human experience...
posted by gt242 at 7:01 PM
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