We ended up with 12 offers on my listing in Rancho Penasquitos, with SIX of them over $900,000. Donna and I did some expert maneuvering to coach the buyer-agents higher on price, and we may have gotten an assist from Zillow too. This was their zestimate before the...
It's conclusive - the Zillow Offers program is only good for sellers who want/need BOTH quick cash and...
The path forward is becoming more clear. Zillow is rapidly expanding their ibuying enterprise, and because they are so well-known, they have a shot at a major disruption. In the video below, Mike describes how homeowners who used to rely on their zestimate for a home...
One of our favorite doomers says the tide is rolling out because inventory is up 37% in L.A. There are 11.5% more San Diego homes for sale, year-over-year. But in an area of 3.3 million people, having less than 10,000 homes for sale doesn't sound like panic time -...
Will the ibuyers succeed? Sure, they offer convenience, but the reason it works is because it's so vague - sellers will never know the money difference between selling to an ibuyer or an open-market sale. The trendy-hip, sell-with-a-click factor could lure sellers...
A good article with evidence here by Ryan discussing the accuracy of the zestimates, and how Zillow calculates their success rate based on their updated zestimates once a property sells. His comment section is full of examples where Zillow adjusts their zestimate to...
While the old tradition of broker cooperation via the MLS is slowly eroding, there is an opening for others to intrude. Two quotes seen this week in different articles: Founder and CEO Rich Barton said in a radio interview on April 1st that he sees Zillow Offers as...
It's out in the open now - Zillow intends to change the game. An excerpt from an interview with Rich Barton where he admits Zillow used agents to get big, and is now deciding how to use that power: An excerpt from I-News: Barton also indicated there could be major...
Mike has been the leading resource on the ibuyer industry, and he sees it the same way I do - Zillow wants (and needs) to commit fully to their ibuyer program because advertising income from agents is starting to lag, which could be a major shift in the...
Bloomberg has this article on Spence stepping down at Zillow yesterday: https://www.bloomberg.com/news/articles/2019-02-21/zillow-ceo-rascoff-steps-down-so-barton-can-lead-moonshot-effort Zillow must believe that flipping homes is their future: On average, a customer...
