By now, you surely know that Zillow has added virtual for-sale signs to its home valuation site.
Some great commentary by the blogosphere already on this:
But, the thing that really caught my eye was their new Make Me Move program. I’ll let Zillow President Lloyd Frink describe it:
Here’s the concept: Think about a price that would entice you to hand over the keys to your home and move. We think it’s a unique and creative way for homeowners to test the waters and gauge interest in their home
Great idea! Homeowners are going to go mad for it! But wait a tic. Haven’t I heard this before?
Finnish site Igglo pioneered the model last year, but wasn’t Redfin also pursuing a similar strategy?
This has been an idea that Redfin has been pursuing over the past nine months, after filing a patent application in summer 2005…
So, is Redfin CEO Glenn Kelman steaming at the preemptive move pulled by his cross-town contemporaries today? Does Zillow’s move sink Redfin’s goal to launch a similar service? My guess is that it does.
More importantly, if Make Me Move takes off in a big way for Zillow, will Redfin’s patent application come back to haunt Zillow?