You should all go read Rob Hahn’s latest post: The Future of Real Estate, According to Zillow.
It’s a topic the industry — and specifically brokerages/franchises/MLS’ who make money from headcount based business models — should think deeply about.
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rolandestrada
Posted at 15:18h, 17 AugustMeh. Another grand pronouncement that means nothing. Remember, opinions are like a$$holes. Everybody has one. I’m pretty sure we can come back to this post five years from now an not much will have changed. Let’s get back to Realville. I’m putting this one in the book as Claim Chowder – again credit to John Gruber.
Drew Meyers
Posted at 20:50h, 17 AugustWhat exactly is the point of this comment?
rolandestrada
Posted at 11:59h, 18 AugustReally, you didn’t get that? It’s a ridiculous idea that in some dystopian, Mad Max real estate future, that top producers will control the vast majority of the market.
Anyone that read that post with any logical thought would realize that theory strains credulity. It logistically impossible. Unless of course you like to wear tinfoil hats.
Drew Meyers
Posted at 12:00h, 18 AugustPretty sure the top producers already control majority of the market.. no?
rolandestrada
Posted at 12:26h, 18 AugustNot really. And of course, I know the statics. However, I look at the MLS everyday. The thing that strikes me is the broad representation of agents across all markets. Sure there are names that pop up on multiple properties. But the number of agents that control the rest of market outnumbers those few technical top producers. It’s not just how much money you throw at any given market.
The post you pointed to is a nice thought piece but reality won’t bear out that particular future.
Drew Meyers
Posted at 12:38h, 18 AugustSo go comment with Rob on that post…
rolandestrada
Posted at 12:53h, 18 AugustHey, you’re the one touting it. You must believe in it. That speaks just as much about what you think as him writing it.
Drew Meyers
Posted at 13:03h, 18 AugustZillow has massive brand power with buyers. If they funnel that traffic/biz to the top producers, yes..they are going to shift more of the overall business to that top producer segment of agents over time. Eventually (and I’m not sure how long it will take), people will figure out not all agents are good. Don’t get me wrong though, that is a long, long process that will take years of education/transparency.
rolandestrada
Posted at 13:37h, 18 AugustYou can rationalize it any way you want but what is described in in that post is not going to happen. Anyone who reads it carefully can see that. You’re also assuming the Zillow trend line will continue forever. I don’t know of anyone that can say that for certain. It’s just not logical. But that’s your religion, so have at it.
Drew Meyers
Posted at 13:51h, 18 AugustNo one is saying anything “for certain.” As you said yourself, everyone has opinions. If you don’t like mine or Rob’s, that’s fine.
rolandestrada
Posted at 13:56h, 18 AugustSorry I just call BS when I see it. And believe me it’s not just on this blog.
Ventura County Resident
Posted at 09:48h, 11 SeptemberRoland… I agree with everything you have said. There’s nothing more diabolical than a BS’er that believes his own BS! Sunshine and smoke, that’s all I see, mixed with a gift for gab and a huge dose of over confidence! RE: Zillow – they bought diverse solutions for IDXPress and have instantly gone from being the evil troll banging on the door to being deep inside everyones business and MLS!! Realtors are being bombarded by an ever increasing storm of garbage and ill-intentioned businesses that want one thing… all your money!!
Drew Meyers
Posted at 12:00h, 18 AugustDepends of course on what the definition of “top producers” is
rolandestrada
Posted at 12:01h, 18 AugustI’ve also marked my calendar with this link five years from now for a a big fat “i told you so Claim Chowder”.
rolandestrada
Posted at 12:05h, 18 AugustThis is the kind of garbage writing that says “Hey, let’s make crap up and see how may idiots fall for it as prophetic genius”.
Peter Liem
Posted at 09:40h, 18 Augustzillow cater to only 15% top agents…….that’s a big chunk of market that left untap…even if they make only 1/4 of what top agent grossed.
Drew Meyers
Posted at 09:42h, 18 AugustThat 15% do a lions share of the total business though. I’d guess the same 80/20 rule you hear quoted all the time holds true in this scenario…the top 20%, do 80% of the business.
Peter Liem
Posted at 09:48h, 18 AugustHey Drew….that is still a billion dollar valuation right, lol….if we consider Zillow market cap at $ 5b
Drew Meyers
Posted at 09:52h, 18 AugustRight. But those 80% are way harder to herd than the 20%. How do you find/reach them? And they will churn constantly.
Newton Land Development
Posted at 15:50h, 26 OctoberPeople are always trying to claim the future of certain topics, but there really is no definitive way to predict what’s going to happen next.
Drew Meyers
Posted at 15:52h, 26 OctoberThat won’t stop people from having opinions.
Christine Jenkins
Posted at 10:07h, 19 AprilI guess we will have to wait and see. There certainly does seem to be a trend towards monopolies.