The SP200 sincerely reckons with what power means. When you analyze real estate, Zillow’s presence online benefits buyers, sellers, and real estate agents. Not only is Spencer Rascoff the most powerful real estate leader, according to the The Swanepoel Power 200 (SP200) but he is a multi-millionaire. My boss the CEO of RE/MAX Dave Liniger came in fifth.
As part of the RE/MAX team I decided to see why Zillow’s website got so many more hits than RE/MAX. It was clear the interactive map was the key feature in finding a home on Zillow. To me this all means that RE/MAX should advertise more brokerage’s listings.
As a brokerage RE/MAX soars high above the crowd. Zillow on the other hand dominates the online market. Zillow utilizes the comprehensive database that buyer’s want. When searching for a home Zillow allows the buyer to bypass a realtor’s database. The real estate agent’s responsibilities now lie in gaining the client access to the property, disclosing the seller’s disclosure, and most importantly filling out all the needed paperwork.
Listing a property is even easier than working with a buyer. Zillow enters your listing and begins advertising it to everyone searching. The price the house is listed for, will be the most important factor in determining how quickly the property sells. Real Estate is a business that Zillow mastered. Real Estate is a business that RE/MAX leads.
The recent internet boom has spread into our houses. Now we can search 100’s of properties in search of our dream home instantly. We no longer should drive around the neighborhood searching for for sale signs with a realtor.
The internet has changed the way realtors do business. Many services like Redfin and Relator are connected directly into the multiple listing services and are being updated every 15 minutes. Both Trulia and Zillow sell ads to real estate agents so the real estate agent’s name appears next to the houses being searched. Zillows rise to fame came from there use of the term Zestimates. This estimates the value of the property and has been used as a marker for many of a houses worth.
– Rise to fame Zestimates. A great search engine for beginners because of simplicity to use. You can find comparables as well as price and tax history right when you click on a property.
– Bought by Zillow for 3.5 billion dollars. Zillow and Trulia are truly the two biggest names in online house hunting. A unique formant many find comfortable to use. Here you can see a heat map indicating the crime levels in the areas of your search.
– This site is run by the National Association of Realtors. It lacks many of the features of the two companies mentioned above but makes up for it with up to date listings.
– Takes 30 percent of a realtors commission for finding the lead. After having five transactions in one year a realtor is allowed to attend a webinar which than determines if they can join. Redfin is a real estate brokerage, whereas Trulia and Zillow are online house hunting websites. Trulia and Zillow need to negotiate data sharing agreements with the MLSs whereas Redfin can use data from its membership in the Realtors Multiple Listing Service. You also can search Redfin for homes according to the school you want your kids to attend
– Is free to set up your profile but costs additional money to advertise your property. Offers a list of local schools in the area. Another online house hunting website that provides the user with the information that they need.
After carefully analyzing all five of the competitors I have found that each depends on the Multiple Listing Service to provide the house hunter with up to date listings that realtors have access to. The difference between the various search engines is minute and it becomes evident that the comfort level of the various search engines is the deciding factor. Each search engine offers the best online tools for your housing search. House hunting now is an interactive experience that can be done from home. The winner I found to be Zillow.
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