Notes

Real estate property Technology Tip: Make Zillow Work With regard to You
On February eight, 2006, the real estate business altered a bit using the launch involving Zillow (tm) (http://www.zillow.com). Zillow's goal is usually to simplify the finding the industry value of the residence.

Zillow could be the design of Richard Barton and Lloyd Frink. You may include read about
Richard's last project, founding the particular internet travel site Expedia.

In his start press release, Barton says, "We feel you shouldn't want a computer
science degree or perhaps a real estate license to learn precisely what a home will be worth. That's why
all of us created Zestimate ideals, providing free and even instant valuations intended for a lot of
homes inside of America. This beta is just the particular beginning... Zillow will continue adding gear
and services to empower consumers in order to make smarter real estate decisions. inch

With Zillow, 60 seconds is all is requires for anyone to find the market value of
virtually any home in typically the Zillow database -- whether or certainly not it truly is on purchase (currently they have
data for about 70 million homes). Zillow computes its values based largely on
publicly available data (tax records, and so forth ), which potential clients for some pretty fascinating
results.

In some cases, Zillow's quotations seem to become accurate within the 10% margin associated with
error they list upon their site. Many of the tests we ran and have study about, however ,
display Zillow is on a regular basis off the tag by as much as a several hundred thousand bucks.
A great deal of properties may even show upwards, my house integrated.

Regardless of the particular accuracy of the information (which we suppose will improve typically the longer
Zillow stays in business), the thought of Zillow is angering many true estate
professionals that feel that openly accessible information including this puts the success
of their enterprise in the cross hairs.

Good technology is disruptive, psychological significance it interrupts its status and forces us to
change (hopefully for the better) or get kept behind. Whenever a fresh technology like
Zillow comes along, an individual can view that in one regarding 2 different ways: optimistically or even
pessimistically.

Let's choose the former.

And so how can a person use Zillow to your advantage?

Start off using their biggest asset (pricing information) to boost THE biggest asset
(the VALUE you supply to buyers plus sellers).

Zillow concentrates on price and makes that pricing details easily accessible to
any person. Although price is usually important, it is only one particular part of exchanging real
estate.

Thankfully, your business is definitely not built upon information alone. What good is
information without the knowledge needed to interpret that will information and turn that
into action?

We could go out and about and buy the whole curriculum used simply by the best medical university in the
country, nevertheless having the information won't assist DO anything at all. Additional info and
encounter are required in order to turn that info into real PRICE for me personally and some others.

It's type of typically the same thing for Zillow. Your goal is to make sure your potential
buyers and sellers realize that.

And so here's just one single approach to make Zillow work for an individual:

If you study the Zillow results carefully for properties you know effectively, you will see
that it is particularly bad in keeping right up with major improvements made to
properties that substantially enhance their value. This will be just ONE of the holes that
exists right right now.

Next time you will be heading to a new listing presentation, take the Zillow benefits with you.
Research the report and use it to your benefit to show the seller simply how much
value you do. Use the Zillow Zestimate (their word not mine) as the
teaching tool together with your seller. Display them why or why not the particular data is precise and
make it clear that will your knowledge can make them a lot more money or preserve them
in the aggravation of selling in an inflated selling price.

Zillow can deliver price, but you can deliver value.

And VALUE is definitely what clients are going to pay for.

In the end, basic organization principles still use. You get whatever you pay for. Become sure
to speak that for your clients in every achievable way and an individual will never end up being
threatened from the subsequent new technology that will comes along.

Jason Leister, the Real Estate Technology Master (tm), is owner of Computer Super Guy, LLC, some sort of Chicago-based technology firm that helps true estate professionals earnings with technology.

Go to the Real Real estate Technology Guru [http://www.computersuperguy.com] in order to subscribe to our totally free monthly eZine, Earnings, and obtain a COST-FREE copy of our special report "The Reality About Property Web sites and Search Engine Optimization. inches
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