You know how Zillow is the go-to search engine for all things real estate? Well, do you ever wonder how this digital powerhouse is impacting the real estate market? The value of your home? Even the long-term career outlook and job security for real estate agents? I mean, if everyone everywhere is looking at Zillow, then what does that mean for literally any and every other real estate app, real estate website, real estate company and real estate agent? Is Zillow’s iBuyer model rendering the real estate agent irrelevant? In this current technological age, it’s a question worth paying attention to… After all, attention is the name of the game when it comes to modern digital marketing, and we all know… whatever the eye follows is where you’ll find people watching… and wherever the people are is where all the data lives. So by definition and extension, is Zillow actually LESS about featuring homes and MORE about data mining? PRESS PLAY on Ep. 5 “Heading into Spring Market and the Inside Scoop on Zillow” to learn how Zillow has adapted their digital platform and offerings, the pro’s and con’s of this adaptation for real estate agents and the industry, and whether Zillow's proprietary Zestimate is a figure you can count on for an accurate valuation of your home.
You know how Zillow is the go-to search engine for all things real estate? Well, do you ever wonder how this digital powerhouse is impacting the real estate market? The value of your home? Even the long-term career outlook and job security for real estate agents?
I mean, if everyone everywhere is looking at Zillow, then what does that mean for literally any and every other real estate app, real estate website, real estate company and real estate agent? Is Zillow’s iBuyer model rendering the real estate agent irrelevant? In this current technological age, it’s a question worth paying attention to… After all, attention is the name of the game when it comes to modern digital marketing, and we all know… whatever the eye follows is where you’ll find people watching… and wherever the people are is where all the data lives. So by definition and extension, is Zillow actually LESS about featuring homes and MORE about data mining?
We are going to discuss all this and more today and I have a caller who wants to know if they should sell their home based on what Zillow says its worth.
THAT, my friends, is what we are covering today, so stay right here for Real Talk with Big Red.
Well, good day, good day, good day and happy Spring Market 2021 to all of you fans and followers, buyers and sellers, ladies and gentlemen. I can just feel the shift in the weather and the general vibe in the air, so I’m delighted to be here with you to record our FIFTH episode of Real Talk with Big Red. I can hardly believe it’s already been five months since we first launched this podcast. We’ve enjoyed so many great conversations and tackled a lot of questions surrounding real estate and the real estate market… and to think we are just getting started. We have a full year on deck already slated with incredibly knowledgeable and successful guests and thought-provoking topics for all of 2021 and today is certainly no different.
Today we are discussing… [dun, dun, dun] Zillow.
What does everyone think about Zillow? I know my sister in law texts me her Zesstimate practically weekly. She thinks it’s the end all, be all of home valuation.
My buyers are always texting me listings that come from Zillow, even after they are set up for automatic property alerts through my listing website. It’s as if Zillow has completely won the attention game.
So for all you buyers and sellers out there, this begs the question…. If you have Zillow, do you even need a real estate agent? And for all of us agents out there, we can’t help but wonder... can we even compete with Zillow? Is this one of those age-old scenarios where we have to accept if we can’t beat ‘em, we have to join ‘em?
1.) What is Zillow?
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help.
Zillow is a business who sees itself as transforming the real estate transaction into a place where buyers and sellers can move from one home to the next as easily as possible. Their business model started at the top of the funnel as a lead generation model and over time, end to end transaction platform that is seamless, bundled and creates happiness and ease around the home buying and selling experience.
2.) How does Zillow make money?
Today from selling products to real estate agents, specifically leads and now it sells transaction management services and showing services. Zillow is celebrating 15 years in the real estate space. They have their own broker license and the use of that license has changed, necessitating additional licenses over time such as ibuyer and referrals and IDX feeds, which pulls listings from the various multiple listing services across the country. The information it offers on its site for consumers now mirrors the information that agents have at their fingertips. Any general brokerage is on the same playing field in terms of access to listing data.
Zillow has innovated in its drive to aggregate. From it’s purchase of Trulia, Market Leader, Showing TIme, DotLoop…. Zillow’s innovation is its vision, its drive to control not only the lead, but also the transaction, and end to end seamless transaction and, ultimately, the gateway to the contract.
Showing Time is the app that we real estate agents use to set up appointments to get your home shown… and ultimately sold. What does that mean for you the consumer? It gives Zillow another opportunity to consume data and control data. Think about it. You list your home and it has 20 showings on the first day. Zillow knows this. All the agent feedback is recorded within the Showing Time app so if the people feel it’s overpriced, outdated, all that data now belongs to Zillow. Acquisition likely includes past data, information on all listings, 50 showings, feedback, not only the opportunity to see where houses are in demand, what the consumers and agents think about the pricing of the inventory, what needs to happen to get an offer.
Huge data grab. Very smart purchase by Zillow. Collecting and controlling data, document management system, terms of service, insight into the whole transaction.
Zillow isn’t just a platform either, it’s also a brokerage. That makes Zillow a buyer, a seller, a lender, a data provider and a data forecaster and now a data collector of how homes are being shown.
How does Zillow impact real estate agents?
Zillow has always made a great partner to the real estate agent. So why do agents suddenly feel uncomfortable now? Zillow is being mandated by consumers to provide a digital experience. They believe they are in lock-step with what consumers want and have a partnering model with agents and create a win-win relationship by honoring those relationships. So buyers and sellers are the customers and agents are their partners.
As agents we need to educate ourselves and our clients. How Zillow works affects them and their bottom line. Our goal is always for our buyers and sellers to profit. So the bottom line is to understand how big Zillow is in this industry, to take our data and extrapolate it, use the algorithm to purchase and sell properties for themselves.
Honorable, firm in their belief that what they do is good for the real estate industry and view themselves as providing value to consumers and agents.
So where does all the angst come from?
The tension between Zillow and real estate agents goes back many years. Realtors have long complained about Zillow’s inaccurate Zestimates, valuing homes with online data and algorithms, with no physical walk-through or neighborhood assessment. Realtors say it is impossible to accurately value a home without a physical inspection so Zestimates mislead homeowners into pricing their homes incorrectly — losing equity in the process.
Realtors also objected when Zillow sold agents “positions” on its website next to listed homes. This redirects some buyer inquiries away from listing agents to agents who pay Zillow. Realtors say this damages their sellers because buyers get information from agents who have never seen the home.
The real estate market exploded in 2020. With some sellers reluctant to list due to uncertainty surrounding the economy and the pandemic, inventory was shorter than usual, causing prices to appreciate rapidly and buyers to scramble. One in five homes sold above list price as homes came off the market at the fastest rate in over two years.
To add more fuel to the fire, the Federal interest rate was decreased to record lows in response to COVID-19, causing the mortgage industry to refinance at record highs and buyers to take advantage of the rates while they could.
Urban metro areas across the nation experienced an “exodus” of sorts with massive numbers of people fleeing cities for the suburbs.
Figures are based on information from sources like comparable sales and public data. Zestimates are only as accurate as the data behind them, meaning they may be outdated or incorrect.
Each company has an estimate of their own accuracy: Redfin claims their estimates for active homes on the market have a current median error rate of just 1.77%, and off-market homes are within 6.64%. accurate. Zillow claims its estimates have an error of not greater than 7.9% on any home. However, they recently dropped a bombshell, claiming their median error rate will be dropping to 4% or below very soon. Given that they don’t break out their error rate per on- and off-market properties, an overall 4% rate on 110 million homes could very well put them in the lead.
Why the difference?
Zillow’s accuracy is dependent on many factors including the data the system has on any given property. Redfin’s accuracy is based on an algorithm that takes into account hundreds of data points. Both platforms are relatively accurate, but as with most things, the more information you have, the better. Using both tools, in addition to the advice of a professional like an appraiser, is your best bet.
It’s also worth mentioning that my website, denisepetti.com offers home valuation.
Zillow Statistics: https://expandedramblings.com/index.php/zillow-statistics/
Links mentioned on this episode:
https://expandedramblings.com/index.php/zillow-statistics/
https://www.homebay.com/tips/which-home-value-estimator-is-better-redfin-or-zillow/
So you know how Zillow is the go to search engine for all things real estate?
Well, did you ever wonder how this digital powerhouse is impacting the real estate market?
The value of your home?
Even the long term career outlook and job security for real estate agents?
I mean, if everyone everywhere is looking at Zillow, then what does that mean for literally any and every other?
Real estate.
App and what does that mean for real estate websites, real estate companies, brokerages, real estate agents is Zillow's I buy your model rendering the real estate agent irrelevant in this current technological age. It is a question worth paying attention to. After all, attention is the name of the game and when it comes to modern digital mark.
Seeing as we all know wherever the eye goes is where the people are and where the people are is where the data lives.
So by definition an extension.
Then Zillow actually less about featuring homes and more about data mining.
We're going to discuss all this and more today, and I do have a caller who wants to know if they should sell their home based.
On what Zillow says, it's worth that my friends is what we're covering today, so stay here for real talk with big Red.
Live from the Wildfire podcasting studios.
It's the real talk with Big Red Show where we keep it real with real estate agents and real life buyers and sellers.
Lenders and landlords, vendors and investors, and anyone who's anyone that lives to inspire real success.
2nd.
I'm your host.
Denise Petti.
My friends call me Big Red and this is your show.
Where people, places and dreams come together real talk Q&A phone lines are open now at 8445 Big Red and I'm here and ready to take your call.
Well, good day, good day and good day. Happy Spring Market 2021 to all of you fans and followers, buyers and sellers, ladies and gentlemen, I can just feel the shift in the weather and the general vibe in the air. Can't you? And I'm so delighted to be here with you to record this our fifth.
Episode
Of real talk with big red.
I really can't believe that it's already been five months since we first launched this podcast.
We've enjoyed so many great conversations, we've tackled a lot of your questions that are surrounding the real estate world and this real estate market.
And to think that we're just getting started, we have a full year on deck already slated with incredibly knowledgeable and successful guests.
And thought provoking topics for all of 2021 and today is certainly no different. Today we're discussing.
Dun, dun, dun.... Zillow.
All right, So what does everybody think about Zillow?
I know my sister-in-law, she texts me.
Hers estimate practically weekly.
Now she thinks that Zillow is the end all be all of home valuation and my buyers a lot of them are always texting me an they send me listings that they find on Zillow.
Even after they're already set up with automatic property alerts through my website, it's as if Zillow has completely won this attention game.
So for all of you buyers and sellers out there and all of your real estate agents who may be listening, this does beg the question.
If you have Zillow.
Do you even need a real estate agent? And for all of US agents we can't help but wonder, can we even compete with Jello? Do we have to? Is this one of those age old scenarios where we have to accept that if we can't beat him we gotta join him? Well, the first question I want to tackle that I know is on a lot of people's minds today is what?
Is.
Hello and basically just to kind of frame this whole episode out in this whole topic.
I just want to say that as many people know or many people may not know, Zillow is actually a leading real estate and rental marketplace.
It's dedicated to empowering consumers with data with inspiration and knowledge around.
Whatever place they call home, this is taken literally verbatim off of their website, and it connects them with the best local professionals who can help.
So Zillow is a business model that I would think kind of sees itself as transforming the real estate transaction.
Into a place where buyers and sellers can move from one home to the next as easily as possible, and that's just in layman's terms.
Their models started basically at the top of the consumer funnel as a lead generation model an overtime they have managed to control.
The transaction from end to end so their entire digital platform makes the home buying experience seamless, at least if it's not already happening.
That's the intention that it will be happening an they have set their business up in such a way that from the list.
Bing to the mortgage to the showings, to the appraisals to the contracts.
They've basically set up their business model to be able to manage the transaction soup to nuts in this what they call I buyer, they've bundled and created ease around the process.
And.
Enjoyment around the home buying and selling experience.
So what does that mean for you?
Before we get into kind of how how this impacts us as consumers and as agents, we want to talk about how Zillow makes their money.
So I had a I had the benefit of attending a convention through my company, which is Keller Williams.
An I got to hear what Gary Keller had to say about Zillow an an what, how they make their money so.
Basically, Zillow sells products to the real estate agent.
OK specifically leads, so we pay as agents.
We might pay to appear in the sidebar of Zillow, and now that was kind of the how Zillow got its footing and now it's evolved to a place where Zillow is actually selling.
Transaction management services.
An showing services they've been in business for.
I think upwards of 15 years now and.
In this real estate space, they now have their own broker license.
Yeah.
And the use of that license has actually changed and necessitated them acquiring additional licensures overtime as this referral.
An IDX feed for anyone that doesn't know what an IDX feed.
It simply means it's pulling the data from the multiple listing Service into Zillow.
Means
And so you have all of the current data on what is available in the marketplace.
So in pulling across from all these various multiple listing services, the information mirrors the information that we as agents have at our fingertips, and so any general broker brokerage is basically in the same playing field in terms of access to listing data.
Yeah.
They have in ovated this model in its drive to aggregate so it's purchased Trulia. So anybody who used to look for homes say on realtor.com or Trulia?
Zillow now owns Trulia and Market Leader, which is lead management data mining and then also showing time, which is what we use to communicate with our buyers and sellers.
When we as agents schedule is showing.
Zillow now owns showing time Dot Loop, which is a contract management system.
So when we draw up the contracts and send them out for signature, they're going through Dotloop, Zillow and Stout Loop now.
Their innovation is in their vision and so their drive is to control not just the lead, but the tranzac.
And they want to make it an end to end seamless transaction ultimately being the gateway to the contract.
That's the big game here.
Let's just talk about it for a minute, showing time as an example.
Showing time is an app that we use to set appointments.
As I mentioned an to get our listings shown.
An ultimately sold.
Now what does that mean for the consumer?
It basically shows Zillow what you think of the homes that you see.
OK, so it gives them yet another opportunity to consume data and to control the data.
So if you think about it, you list your home, it has say 20 showings in a in the first day.
Zillow now knows this.
An all of the feedback that we get from our agents that have shown it.
So any buyers agents that have brought their clients through and showing the listing.
That feedback is getting recorded within the Showingtime app, and it's anything they say if they feel the home is outdated.
If they feel the home is overpriced, if they feel that would benefit from a price reduction in order to get it sold, it would benefit from a paint job, you know.
New flooring Zillow now has that.
Information recorded so it likely the acquisition of Showingtime likely included past data.
I don't know that for sure, but more than likely and.
It allows the company to see warehouses are in demand where homes are selling, what the consumers and the agents think about the inventory and the pricing.
What needs to happen in order to get an offer.
It's a huge grab and it's a really smart purchase by Zillow because collecting and controlling the data, having a document management system.
Controlling terms of service.
They have insight into the whole transaction, and it's not just a platform either, so it's also a brokerage and that makes Zillow a buyer.
A lender, a data provider.
I.
A data forecaster.
And now a data collector of how homes are even being shown. So how does this impact anything and everything? Zillow's always been a partner to the real estate agent.
Zip.
So why do agents suddenly feel so uncomfortable about this?
So as it was being mandated by consumers to provide this digital experience, they believe that they are in lockstep with what consumers want and they have this partnership model with agents.
So that creates a win win scenario.
Right?
They honor these relationships so that the buyers and the sellers are essentially the customers, and the agents are the partners and as agents, all we really need to do is be present on Zillow in order to be afforded the opportunity to be part of this transaction.
And yet, so many agents are feeling like it's.
A risk or it's a threat to our livelihoods.
Like suddenly suddenly we as agents are going to be somehow cut out of the deal because they they've rendered us irrelevant and we were no longer needed.
Does that have any merit?
Does that have any value?
And in fact we do have a caller.
For anybody wonders where these colors come from, you can call me at 18445 Big Red and that actually allows you to leave your questions you know about real estate, whether it has to do with Zillow or any other.
Topic all you gotta do is call 18445 Big Red an you can just leave it right there on the outgoing message. You can also go to my website denisepetty.com and that's Denise pti.com and so you can just go ahead right over to the website and leave your question there. And with that in mind, we do have a question.
That came in about this very topic.
Hi there, big red.
My name is Glenn.
I got a question for you about Zestimates.
My wife and I lived in our single family home.
For about 30 years.
Now we don't really have any intention of moving. We're pretty happy here. Obviously we've been here 30 years, but from time to time I do check out what Zillow has to say about what our home might be worth now prior to the pandemic, the Zestimate used to used to hover anywhere around 270,000 to 285 thousand.
Now I was a little shocked to see it's more like 350,000.
A number like that, assuming it's even accurate, may just get us to consider selling, you know, hey, it's a lot of money. So what's the deal with Zillow's numbers? How they figuring our home is suddenly worth so much more than it was before, and is their estimation model even something we can trust?
Assuming.
What are your thoughts about?
This.
Well, what a great question Glenn. I am so glad that you called and left that for me and you know the real estate market did explode in 2020, which nobody really anticipated with the pandemic. Something most sellers were really reluctant to list due to the uncertainty around uncertainty around the economy and the pandemic. So inventory was much shorter than usual and it caused prices to really appreciate.
Rapidly an buyers to scramble.
So what you are seeing is what many many people are seeing these spikes in the Zestimate that weren't.
They weren't that high previously, right? Prior to to the current market and which we call a sellers market because the sellers are really in the driver's seat here. So to add more fuel to the fire, you know the interest rates have decreased considerably. To really record lows in response to cobit 19 to stimulate the economy right so?
It's caused mortgage industries to refinance at record highs, so people are staying in their houses instead of selling.
And the buyers are taking advantage of the rates while they can, which leads to all kinds of.
Inflated home values.
People going over ask in order to beat out the competition right?
Which causes appraisal problems.
It's all all kinds of, you know, trickle down effects, but the figures are based on information from sources like comparable sales.
Public data estimates are really only as accurate as the data behind them, meaning that they may be incorrect or outdated.
Uhm?
And there is a bit of a margin of error. You have like the Zillow you have the red fins of the world, so I think first we just have to talk about what is the Zestimate an it's basically Zillow's own version of an online home evaluation or valuation. They estimate these market values for probably about I don't know 100,000,000 plus homes.
All over the country an their algorithm can automatically compute values that are based on both public submited as well as user submitted data points for each property.
The true accuracy of his estimate will vary based on a number of factors and that includes the property location.
And how much an what data is available? So Zillow states that their median error rate is about 5% and that they are quick to combat like inaccuracy issues. By allowing homeowners to update and edit facts on their own, and that may or may not be reflected immediately, but Zillow does refresh.
It's these estimates, which is why you see it fluctuate.
OK, there is a margin of error.
And Zillow claims its estimates have an error not greater than 7.9%.
On any home, they don't provide different accuracy metrics for on market versus off market homes, and that means their margin of error has to be a little higher so that it counts.
It can account for actively listed homes as well as properties that haven't been sold in years, so have been in your home for 30 years.
So yeah, it's a head scratcher, right like nobody's been in your home. No, realtor has been in your home for 30 years, so Zestimate has no. Zillow has no idea on the condition of your home and whether or not that 350K S.
Estimate based on what, so it's a great great question.
The best way for you to find out if you can really command that kind of a list price sales price is.
Obviously, how have homes like yours, same square footage, same age, same number of upgrades, right?
Same number of bedrooms, same lot size, same model, or at least similar, right?
In the last 12 months, taking into consideration that the last 12 months have been unlike any real estate market, really that we've ever seen, or at least most people have ever seen.
So yeah, take your Zestimate with a grain of salt for sure.
They do calculate all these variables that impact value in different parts of the countries.
For example, in some parts of the country at home without a basement is really no big deal, but in other locations of basements a must have.
So it really kind of depends on whether or not having one or not having one impacts.
Their homes value and just.
Kind of throw a little another little wrench into the equation.
You've also got Redfin.
I don't know how many people out there are familiar with Redfin, but similar to Zillow, Redfin does provide these estimates an, for example, Redfin may consider a homes location, especially if it has this really magnificent view.
Maybe it's on the water.
Things like that.
Zillow's accuracy is going to depend on a lot of factors, including the data the system has on any given property, whereas.
Redfin is really going to be based more on an algorithm that takes into account hundreds of hundreds of data points, so the platform is really, really relatively accurate.
But as with most things, the more information you have, the better.
An educated consumer is a powerful consumer.
Knowledge is power, so using these tools like Zillow and Redfin in addition to the advice.
Of your local real estate professional as well as an appraiser, that's really your best.
Bad.
So it's also worth mentioning that my website denisepetty.com does offer a free home valuation tool, so you can just head on over to denisepetty.com and then you would go onto under the menu item that says sell and you can go ahead and type in your address. It will spit out a home valuation and then I'll follow up with you and make sure that we are on track.
And that what we think we can get for your home is actually.
Realistic.
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2nd.
So now it's your market analysis segment here. So if you want statistics on the real estate market, this is where we're going to dive into that. Specifically statistics around Zillow. I found this very interesting list of statistics on expandedramblings.com now.
Expanded ramblings is kind of like a akalay.
Doctor of interesting information.
They do have a bit of a, you know, just sort of like a disclaimer that they pull their data from reports an you know from other websites and so it's not necessarily from Zillow directly, so you know we can just look at this as a reference point more than.
Then you know.
Direct from the company source, but what I found interesting specifically about their report and I'll put the link in the show notes is in 2014. Zillow had 76.7 million monthly unique users, so visitors right?
So in 15 it went up to 2015 and went up to 123.6.
Million monthly unique users.
What is monthly unique users mean?
Every 30 days every 30 to 31 days.
Zillow has 123.6 people on their website, 123 point, 6,000,000 individual people. That doesn't include people that have returned day after day, hour after hour.
That's just one individual, so 123.6 million of them every month. And that was only in 2015, 2016. It was 140.
Million 2017 151 million 2018 157 million 2019 196 million monthly unique visitors an in 2020.
245 million monthly unique visitors to their website.
And their app.
I'm just going to let that simmer there for a minute because when you think about.
Where people are looking for information about real estate.
They are going to Zillow, and if you're an agent that takes issue with that.
You just gotta get.
You gotta get on the bandwagon 'cause that's where your consumers are.
And if you're a buyer or a seller.
We as agents.
Are being contacted.
If you're a seller, your buyers are contacting us and they're saying what about this one?
What about this house?
If you're not.
If you think you're like gonna sell your house yourself right, a lot of people might say like, oh I'll just sell my house myself.
I don't need an agent, right so?
Guess what happens? This is a whole other show. People go out on Zillow, right? They look at these estimates. All this kind of stuff and then they'll use that to inform their bid. So if you if you go on his estimate and it says your house is worth, who knows $240,000.
Then you don't have an agent like me, come over an actually look at it and you don't have an appraiser.
Come in and say what they think it really is worth based on activity in your neighborhood.
Then you say, well, I don't need an agent, I'll save the Commission.
I'll sell it myself.
Based on the Estimate's estimate then.
Guess what?
You've shot yourself in the foot because competition is the name of the game.
There are so few people out there that are selling that all these.
Buyers are going to compete for your house, which is going to drive value higher and so if you just list it for what this estimate says you can get.
Thank you.
And yet, now, on the flip side, you don't want to get greedy, and you don't want to like say, OK, well, you know I'll list it higher because it's such a crazy market, because then you'll have appraisal problems and all this other stuff.
So if you were to say OK, I'm going to price it to sell, you know, in in a in a price point that is palatable.
To my prospective buyers that creates competition that creates a contest and then.
There you have it, so your real estate agent is going to bring all of his or her.
Prospects not only in their own Rolodex, but actually in the whole brokerage and in their whole referral network an other brokerages.
So the more people that get to see that listing, the more activity.
Surrounding your listing, the more excitement, the more urgency.
And so.
This estimate is a really useful tool.
So the percentage of Zillow visitors that are planning to buy or sell 50% and that was in 2019 so could be even higher in 2020.
In 2021, we're still in the beginning of 21, so we don't have those kinds of stats yet, but the percentage of US homes that have been viewed on Zillow, 80% the number of monthly rental visitors to the Zillow rental sites, 32 million percentage of Zillow's audience that has a household income exceeding $100,000.
37% the number of homes on Zillow updated by users. 80 million.
The number of real estate professionals who list on Zillow.
2,000,000 the number of homes in the Zillow database in the United States, 110,000,000.
The amount that Zillow purchased Trulia for $2.5 billion in stock.
And the number of homes viewed per second on the Zillow via their mobile app, the number of homes viewed per second on Zillow's mobile app. 186 homes per second.
The number of homes viewed monthly on Zillow from a mobile device.
420,000,000 homes
And the percentage of Zillow visits that come from mobile 75%.
The total number of Zillow Premier agents 92,366 agents now this report is available in an annual industry report.
An it includes.
Users demographics revenue growth.
And.
More.
So this report is available in an annual industry report brought to you by.
TMR and so to get a copy of that report, you can head over to the link in my website and.
Download that report. It looks like it's $17.00 and it's going to show you all the user demographic, revenue and growth data and more for this report. So what's the main takeaway for all of this Zillow talk? So basically I want to say that it Zillow does make it easy for us to do business and complete transactions. It's really the defining achievement of any successful company.
Consumers are expecting more and more to be able to do business quickly and without hassle, and so companies that are complacent and accustomed to this captive market for the last few decades have to now scramble and innovate in order to stay profitable.
So Zillow has been both loved and hated for years now, but their web traffic and their consumers, they just keep on coming.
And there's little to no sign of slowing, as we can see from this data.
So I for one, look forward to seeing what kind of innovations they're going to offer in the world of real estate.
And I am so excited to be apart of it. Thanks so much for listening to real talk with Big Red. It was great to spend some time with you if you like the show. Share it with a friend and don't forget to subscribe to this podcast and if you found value in today's episode, I encourage you to go ahead and leave a review. This way more people who love real estate will be able to find the show. And don't forget to connect with me on Instagram at Denise Petty and visit my website itsanicepetty.com.
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