Will Zillow Put Real Estate Agents Out of Business?

It would be an understatement to say that Zillow® has many real estate agents nervous about their future.  It’s not just Zillow® though, it’s Amazon, big banks, and dozens and dozens of new real estate start-ups and changing business models.

A true dysfunctional family…

The most common name that comes up in real estate agent circles when discussing the impact of the internet on the real estate profession topic is Zillow®, and usually in the context of “the enemy“, so to speak.  It seems to me the biggest fear among agents about Zillow® is that they want to eliminate real estate agents and instead give consumers a marketplace to buy and sell homes without the need for an agent.  What is most interesting to me about this, is that Zillow® made something like nearly $1 Billion last year from selling leads to, guess who? Yep, real estate agents. So, the group that is afraid Zillow® is gunning for them, is lining their coffers with cash to do so, see the dysfunction?  To be clear, I’m not blaming agents here for doing business with Zillow®, nor am I saying what Zillow® is doing is wrong, I’m just commenting on what I see and find it rather fascinating.

But wait there’s more…

Going back to Zillow® and all those leads they sell to agents, what makes it even more interesting is the fact that Zillow® is able to generate all those leads as a result of getting more than 1 million real estate agents in the U.S. to send their listings to them and give them permission to market them.  Hmm…

Inventory of homes for sale in St. Louis drops almost 20 percent from year ago

dennis-norman-st-louis-realtor-According to a report released by Realtor.com, the inventory of homes, condominiums, townhouses and co-ops for sale in St. Louis dropped by almost 20 percent (19.79%) in May 2012 compared to a year ago, just a little below the national decline of 20.07 percent. On another positive note, the median list prices of homes for sale in St. Louis increased 3.43 percent in May from a year ago, and the median time homes for sale in St. Louis have been on the market came in at 72 days which is down 15.29 percent from a year ago.  See the complete report for all 146 cities covered by clicking here)

Most popular cities for home searches

Realtor.com, which claims to have more traffic on it’s website than any other real estate website in the world, released their report for December showing how 146 metro areas in the U.S. stack up in terms of popularity for home searches. St. Louis did not make the top 10, but did come in at a respectable 19 however.   Kansas City typically beats St Louis out on many of the “national lists” but not this time….KC was almost halfway down the list at 55.

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