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Zillow ‘humbled’ by real estate industry

Founders share lessons learned in early launch mode

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SAN FRANCISCO -- The creators of online home-valuation service Zillow learned the same lesson that many innovators and entrepreneurs before them have learned: real estate is difficult, it's local and it's not the travel industry. Co-founders Rich Barton and Lloyd Frink shared 10 lessons they've learned since entering the real estate industry with the launch of Zillow earlier this year, and recalled well-known words of wisdom from Dave Liniger, co-founder and chairman of RE/MAX International. Years ago, Liniger said that to be successful you can't show up to the potluck with just a fork. At the time, there were companies attempting to do just that by simply taking real estate data compiled by multiple listing services and using it to make money from brokers, agents and others without adding value. "We want to show up with stuff that we can bring to the industry," Barton, CEO of Zillow, told a crowd of attendees Wednesday at Inman News' Real Estate Connect conference. Zillow, which la...