Industry News

What the Zillow announcement means

News Analysis: A new center of the transaction?
Published on Dec 7, 2006

Founded by former Microsoft executives and the co-founders of Expedia, online real estate firm Zillow is destined to shake-up the real estate world with its announcement today. Zillow.com will now allow homeowners and real estate agents to post homes for sale for free. Additionally, in redefining what it means for a house to be "for sale," Zillow is enabling any homeowner to post a "Make Me Move" price. Here are the reasons that we think the move by Zillow is significant: 1. Zillow is creating a new home listing service -- an alternative to the 100-year-old MLS system. It is, in effect, building its own listing database and can do more or less what it wants with the data collected. 2. Zillow is fast becoming a centralized real estate information and communication hub, the potential centerpiece for the local offline real estate conversation. 3. The Seattle-based firm is offering an amazing mix of user tools -- elegant user interface, innovative maps and new Wiki features. Zillow ...

Comments