Tag Archives: trulia

Zillow Acquires Trulia: Wake Up Brokers! They’re Getting Rich At Your Expense

If you haven’t heard about listing syndicator site Zillow acquiring competitor site Trulia for $3.5 Billion in stock, I feel for you…especially if you’re in real estate. Since this announcement, I’ve received a couple emails, seen a few comments, read a few newsletters, and thought I’d try to spark a dialogue here on the site.

For what it’s worth, I’m definitely not thrilled about these two companies continually capitalizing off of our data. I certainly feel they would be nothing without the brokerage community, and firmly believe real estate brokers and agents got it all wrong (especially bowing down and “claiming” our own listings on these sites…for a fee!), but who am I to judge. I want to hear what you have to say. To start the conversation, have a look at what a reader said recently in a past post we had done about how worthless Zestimates are: “Zillow Zetimates Rubbing You Wrong Too? Vent”:

Why hasn’t anyone considered starting an “Agent Owned” National CMLS Internet advertising company by which we all become coop owners and share in the ad revenues and use the service at moderately low cost. We could put a stop to all the internet companies using OUR LISTINGS to make BILLIONS and use those revenues as retirement supplements to all the coop members of the National CMLS internet company. I am sick and tired of Zillow, Trulia, Realtor.com, and other sites using our listings to milk the real estate agents for money that belongs to us. These are our listings not theirs. If anyone should make money on our listings it should be us. We can put a stop to this and no longer allow these sites to use our listings. In the very least, they should be paying us for our listings. Wake up Real Estate Agents………….

Then, have a look at what a local brokerage had to say in their newsletter about making sure their listings are accurate on these sites (ever think about just killing the feed?):

This is big news in the real estate community. We know these sites are very popular with the public, and that’s why for years [brokerage] has fed its listings to both sites. This has been done to try to minimize the kind of factual errors often found on these sites. Despite their popularity, Zillow and Trulia are not getting their content from our local MLS, and so listing details can be wrong. Dramatically wrong at times.

As a matter of fact, Zillow itself gives the accuracy of its popular “Zestimates” only two out of four stars in San Francisco, admitting that these estimates have a median error of nearly 12% – that’s a big number. Still these sites are popular, and while [brokerage] believes it has enhanced the user property search experience on its own website, the company will continue to keep an eye on Zillow and Trulia, and leverage these platforms as much as possible.

Finally, have a look at this email I received on the matter:

Realtors are guilty for not keeping up with the times and being completely opposed and scared of technology, as we know well. PocketListings.net being the ultimate example. I still don’t understand how hard it was to make anyone understand the concept of creating their [Realtors'] own listing network that they control. Doing anything to really help agents is ultimately a dead end because they are all stupid – few exceptions like you :) The successful businesses don’t give a shit about agents. Zillow, Trulia…as you stated, mining all the data agents worked hard to create. Redfin, basically wants to cut the agent out of the equation. The solution is simple: kill the feeds and those companies perish, but the industry never will. It’s run by idiots.

Share your thoughts in the comments below…(Remember, you can be anonymous if you choose).

Neighborcity.com…Waste More Time

A reader kindly forwarded us to a “new” website called, Neighborcity and we gotta say, aren’t Trulia, and Zillow enough?

neighborcity1

We didn’t see anything on this site worth discussing that isn’t already found elsewhere. To us, this site is a complete waste of time. Focus your time on Trulia, Zillow (if you must to get a very, very, very rough estimate of your home’s value), and your local MLS. If you want community, go to Trulia, but beware the Realtor answers are usually loaded to bait you in.

Oh, one last thing, check the ranking of agents on Neighborcity. We’ve learned our lesson about calling out fellow agents, but that data is clearly flawed.

Thanks for the tip to the site, best of luck to them. We are fans of technology in real estate and applaud all efforts, but we weren’t impressed. We look forward to be proven wrong.

[Editor’s Note: Okay, we took another look at the site from the perspective of someone shopping for a home somewhere in the country. We’re used to dealing with internet savvy buyers and sellers, so we’re a bit jaded. We can see value in the site for those that are just beginning their home search and land on this site a la Google.]