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Answers (12)
- Pasadenan
- Contributions:21466
Not only do they not cover smaller markets, they are only in 10 states presently.
If one is looking for market statistic, Zillow is still the place to go, in spite of any complaints about estimate fluctuations that no one seems to understand.
If one is looking for market statistic, Zillow is still the place to go, in spite of any complaints about estimate fluctuations that no one seems to understand.
- sunnyview
- Contributions:25139
True RedFin is only in larger markets now, but they will spread and when do they will give people an alternative to the traditional.
- Stephen Thatcher, "TriCities Broker"
- Contributions:35
Yes, but Redfin doesn't cover smaller markets...
- Pasadenan
- Contributions:21466
It really depends on how much money the FSBO person would make per hour if they were not doing the additional "sales" job (or buying person doing the contract job...), how much time the person would have to spend doing a job they are not as familiar with, whether they like dealing with people in general, what their skill set is, and what they are willing to pay for certain select tasks...
And then there are the logistical issues... such as FSBO cannot get a Supra Lock box coded for local agents to gain access, so one must provide other means of access to the house or get a Supra box from a local broker as part of a "flat fee" listing service.
And one cannot get listed in the local Multiple listing service without being a member, or having an "arrangement" with a broker that is a member, thus again, a "flat fee" listing service.
And then there are security and liability issues that people need to deal with.
And the seller being present when a buyer is "looking" can either be a good or a bad thing, and depends a huge amount on style and personality, and how "tough skinned" they are when hearing criticism of their living style, decorations, and who knows what.
If one is thinking about doing a FSBO, it really helps to read the blog about the subject from someone that did it using Zillow for market exposure:
Thinking About Selling as a FSBO?
And then there are the logistical issues... such as FSBO cannot get a Supra Lock box coded for local agents to gain access, so one must provide other means of access to the house or get a Supra box from a local broker as part of a "flat fee" listing service.
And one cannot get listed in the local Multiple listing service without being a member, or having an "arrangement" with a broker that is a member, thus again, a "flat fee" listing service.
And then there are security and liability issues that people need to deal with.
And the seller being present when a buyer is "looking" can either be a good or a bad thing, and depends a huge amount on style and personality, and how "tough skinned" they are when hearing criticism of their living style, decorations, and who knows what.
If one is thinking about doing a FSBO, it really helps to read the blog about the subject from someone that did it using Zillow for market exposure:
Thinking About Selling as a FSBO?
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
What do people think about cutting out the agent now that we do have such good info on the web?
I think its great when it works but if you do try to go the FSBO route, be open to hire an agent (for a set fee or commission) for help if you need it. Or a real estate attorney, but that usually is more $$$.
More data certainly has made it possible for companies like Redfin to give it a go, but I can tell you in the So Cal area, people STILL love Realtors to do everything for them and are happy with shelling out a 5-6% commission.
The thinking is the commission will be made up on a higher sale price obtained from a professional Realtor, than if you were to go the FSBO route. Its 'spending money to make money'. . . .
I think its great when it works but if you do try to go the FSBO route, be open to hire an agent (for a set fee or commission) for help if you need it. Or a real estate attorney, but that usually is more $$$.
More data certainly has made it possible for companies like Redfin to give it a go, but I can tell you in the So Cal area, people STILL love Realtors to do everything for them and are happy with shelling out a 5-6% commission.
The thinking is the commission will be made up on a higher sale price obtained from a professional Realtor, than if you were to go the FSBO route. Its 'spending money to make money'. . . .
- elechim
- Contributions:6
What do people think about cutting out the agent now that we do have such good info on the web?
- Pasadenan
- Contributions:21466
I would also like to see Zillow add foreclosure market saturation trend data, as it is extra work to have to extract it from the trend data and search information provided. Foreclosure saturation is a very good indicator of which way prices are heading.
- Pasadenan
- Contributions:21466
Redfin doesn't offer near as many local area statistic trends... and doesn't break areas down into smaller regions then zip codes or cities.
Yes, # cars parking provision and garage filter, and "new construction", and "views" and "water front" are helpful, and need to be included by Zillow, in addition to "swimming pool", "horse property", and "number of stories" which are also missing on the filters for Redfin.
So far, other than Case Shiller, and Core Logic, I have not seen any sites that compare with Zillow's trend data, especially their market value indexes. Even Case Shiller cannot compare with Zillow on this as they don't cover as many market areas and don't cover the smaller market areas, and their numbers are subject to foreclosure saturation.
Two data trends on Redfin that I like that Zillow is missing are:
1) number of markdowns before sale on properties.
2) number of units for sale
(One can get the number of units for sale on Zillow by doing a search, but can't get the trend).
Redfin does make it easier to save the search results... but does not make it easy to download trend data for further analysis. Almost all trend data on Zillow is easy to download. Zillow also provides tiered market data.
Redfin also provides the HOA fee on the home details page, which everyone knows is very helpful and really needed in any listing.
The school rating chart and the parent school rating chart for nearby schools is nice. As that is coming from other sites, it seems like something Zillow could add.
The home details page is missing the walk score rating. Of course, many have also asked that search filters should also include walk score and transit score on Zillow --- another yet to be implemented feature.
Yes, most of the items that Redfin has that Zillow is missing people have been asking for for years.
Yes, # cars parking provision and garage filter, and "new construction", and "views" and "water front" are helpful, and need to be included by Zillow, in addition to "swimming pool", "horse property", and "number of stories" which are also missing on the filters for Redfin.
So far, other than Case Shiller, and Core Logic, I have not seen any sites that compare with Zillow's trend data, especially their market value indexes. Even Case Shiller cannot compare with Zillow on this as they don't cover as many market areas and don't cover the smaller market areas, and their numbers are subject to foreclosure saturation.
Two data trends on Redfin that I like that Zillow is missing are:
1) number of markdowns before sale on properties.
2) number of units for sale
(One can get the number of units for sale on Zillow by doing a search, but can't get the trend).
Redfin does make it easier to save the search results... but does not make it easy to download trend data for further analysis. Almost all trend data on Zillow is easy to download. Zillow also provides tiered market data.
Redfin also provides the HOA fee on the home details page, which everyone knows is very helpful and really needed in any listing.
The school rating chart and the parent school rating chart for nearby schools is nice. As that is coming from other sites, it seems like something Zillow could add.
The home details page is missing the walk score rating. Of course, many have also asked that search filters should also include walk score and transit score on Zillow --- another yet to be implemented feature.
Yes, most of the items that Redfin has that Zillow is missing people have been asking for for years.
- elechim
- Contributions:6
More answers?
- sunnyview
- Contributions:25139
I like RedFin's site too. It is easy to use and has good basic information for each house. I think that Zillow is a great place to advertise FSBO's. It gives your ad on the same professional look as one that an agent would create.
I would like to see Zillow partner with a flat fee MLS company, but that probably does not fit the long term focus for the site. I can dream though :)
I would like to see Zillow partner with a flat fee MLS company, but that probably does not fit the long term focus for the site. I can dream though :)
- Pasadenan
- Contributions:21466
Recent Zillow Blog regarding For Sale by Owner Listings
(Including references to some new FSBO listing syndicators to Zillow; not just the one mentioned).
Redfin is a brokerage with agents similar to Coldwell Banker or 21st Century... They are not a media company.
Media companies don't represent buyers nor sellers, and don't take a commission nor Fee for Real Estate services... their primarily revenue source is advertisements.
(Including references to some new FSBO listing syndicators to Zillow; not just the one mentioned).
Redfin is a brokerage with agents similar to Coldwell Banker or 21st Century... They are not a media company.
Media companies don't represent buyers nor sellers, and don't take a commission nor Fee for Real Estate services... their primarily revenue source is advertisements.
- elechim
- Contributions:6
Ah, I just read that you have indeed partnered with forsalebyowner.com. Great for you and for us. Good job. Please just make it BIGGER.
While I really like Zillow I am beginning to prefer Redfin.com. Zillow have you seen this website?
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