Using Zillow to Stay Competitive in the Online Marketplace. The impact of Zillow on the real estate industry has journalists and real estate investors debating on it’s significance. Zillow is evidence that prospective buyers are eager to gather all the information possible when searching for a new home. The demand for information was so great that the website crashed due to overloaded servers the first day it was launched. This is the new information age, where data and information are at your fingertips in seconds. The real estate industry needs to embrace the new age of information. In order to change with the times real estate agents need to embrace change and use it to their advantage. Greater than 50% of all real estate agents manage their own personal website. In addition to running their own websites, almost all real estate agents use email to communicate with their clients. Zillow can give users detailed information that may be hard to find using traditional methods. The tools given by Zillow are useful, one even gives the option of doing your own home appraisal. There is even price change information as well as possible taxes paid on the property.
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Zillow provides users with maps and GPS locations on every house listed in a prospective buyers area. There’s even a tool for showing how long a house has been on the market which can give insight on whether or not people are interested in the listing. Tools that provide timelines as to how long a specific house has been on the market can be of great use to users and real estate agents alike. Zillow provides detailed descriptions as well as pictures of the house inside and out. The most important feature to Zillows success is convenience. Americans have busy schedules so a website designed for their convenience is an important commodity.
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Will Zillow one day dominate the real estate market, or will real estate agents and brokers evolve in an ever changing business model. The debate between journalists and real estate agents about Zillow has been on the rise. Some feel the creation of sites like Zillow are the fault of brokers and real estate agents not providing the information clients needed. Sites like Zillow are an example of how the internet can change an industry and innovation is important for remaining on top. Real estate agents need to be competitive in this age of information by providing clients with the same tools and features found on sites like Zillow. The age of information is a great time for many and sites like Zillow are examples of how industries must change.