David Gibbons left this tidbit on an old blog of mine (Zillow Beta Bites):
I have read Christine's post. After reviewing the feedback of many thousands of Zillow users, I am convinced that consumers get it -- they understand that just like Kelly Blue Book has never seen your car, Zillow has never visited your home --so. a Zestimate is only a starting point, useful for research purposes but in no way a substitute for an opinion of value from by a local expert who has visited the house and others like it.
I do have a couple of issues with Zillow giving real estate advise when it is not an actual licensee. Here in Nevada, unlicensed assistants and receptionists are not allowed to give any MLS information out when someone inquires about a listing. It is against the law.
I would love for others to ask questions/give concerns of David in this forum. Maybe other people here did not realize that David was around doing Z'Damage Control and promoting Zillow :) He has been very fair and answers questions and concerns about his site very politely.
My main concerns are:
- Zillow is acting as a licensee, giving advise about real estate values. I see this as a lawsuit waiting to happen when someone undersells their home in an upswing, using severely outdated sale records
- Zillow Wiki gives advise on Purchase Agreements and everything else concerning the transaction. While the advise is vague in the most vague way it can get. It should list links to all state laws/legislation. This information is NOT one size fits all. Different states require different forms. I don't even see anything on federal required forms such as Lead Based Paint Disclosure. Just a little vague blurb about disclosures.
- Zillow claims to be licensed in some states but does not point out which states. I wonder if they carry E & O for implied agency.
- Working with buyers and sellers all of the time I am not sure that "consumers get it", as David pointed out in the italics above. You can never assume that "consumers get it" and I don't see any disclosures that point out that they should "get it" before they "use it".
Please post your questions for David here. And I thank David for his time. I hope you do not think that I am too harsh on you David! We would also love to hear about your future plans/intentions for your company. Do you plan on becoming a lead generation company?
All the Best,Realtor®
Nevada Realty Solutions - Your Dream, Your Investment, You\'re Home!
8942 Spanish Ridge Avenue
Las Vegas, NV 89148
direct: 702-580-1783
fax: 702-995-8237
Renee@ReneeBurrows.com
http://www.ReneeBurrows.com
Brian: I can't wait till we can RSS :) I think it will be soon!