Zillow unveils new offering
Written by Mike Perlman (contact - e-mail) -- January 4th, 2007 |
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Many of you might have heard of Zillow.com – the innovative real estate focused site that allows one to obtain a “Zestimate” of a residential property’s market value based on the company’s proprietary formula. However, what you might not know is that Zillow recently unveiled a significant enhancement to its site that enables home owners and real estate agents to list homes for sale. Unlike other listing services, Zillow’s new offering is completely free. It even enables home owners and real estate agents to add pictures and detailed property descriptions at no additional charge.
One new feature that we find particularly interesting is Zillow’s “Make Me Move” functionality. Through this service home owners can set a “Make Me Move” price and have potential buyers contact them anonymously via email. Zillow believes this tool will allow sellers to accurately assess demand for their home prior to actually putting the property on the market as well as provide a mechanism to capitalize upon an unexpected opportunity to sell at a great price.
It is too early to tell whether these enhancements will ultimately have a significant impact on Zillow’s site traffic. Unique visitors to Zillow.com have steadily declined from 2.3 million in May to 1.5 million in November, but most of that can be attributed to seasonal trends in the real estate market. When compared against competitors housevalues.com, homegain.com, and realestate.com it is evident that Zillow has quickly emerged as a major player in this market, as it only trailed homegain.com in unique visitors in the month of November.
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January 4th, 2007 at 9:43 am
Zillow is terrible at valuing condos. If your home is part of a larger building they value the building and not the indiviual units. This makes the service bascially useless for those living in major cities. With all the money these guys received I would love to see them improve their core service before rolling out nonesense like this.
January 7th, 2008 at 11:10 pm
Im not sure why someone would work with housevalues. Every agent is offering a free cma as part of their marketing. Its always been that way just give then a call or email. Essentially thats exactly what Housevalues does. Except after they connect a seller and an agent together they collect a fee. I guess I give props to HouseValues, Im not sure how you did it but they did.
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