What I love about Zillow (And hate about real estate agents and old media)

From an article in the Nashville City Paper by Richard Lawson on the glut of homes on the real estate market, and speaking of a builder who works on both custom and spec homes:

Still, he won’t drop the price to encourage a sale, saying it’s better for property values in the neighborhoods where he builds. Instead, he has been offering buyers’ agents more commission or other concessions if they bring a full-price offer.

My gripe with old media: great tactic by the builder, now what about the consumer?

My gripe with real estate agents: Jarvis over at BuzzMachine has written a couple of times of “freeconomics” and the new business model of the Web. Having just worked with a real estate agent to buy a home (a professional and hard working one at that) I still have to say that the ability to peruse a plethora of market-specific data on Zillow in the comfort of my home made me immeasurably more comfortable with the purchase.

Their ability to force a consumer to bring a full-price offer rests with the fact that they hold more information than the buyer, an advantage Zillow obliterates.

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