Spencer was in town today discussing the Zillow features. www.zillow.com
These are mostly things that NAR, CAR, the MLS systems, and major brokerages have ignored or tip-toed around, but Zillow doesn’t seem to care any more – they are going for it. They are throwing millions of dollars at creating their own full assortment of products and services to benefit realtors and consumers directly.
Here is a snippet:
Zillow is reaching the consumers first, which means that the agents who are willing to pay the big money to be featured prominently will get the spoils. It could be seen as friendly extortion, but if it runs the cheap/lousy agents out of the businessĀ it will be a good thing.
For those who didn’t make it to the end, a guy with a big nose asked Spencer if he intends to create a national MLS.
To paraphrase his answer:
“Yes, except for the messy part of regulatiing realtors and their commissions, we are already there.”