Monday, July 18, 2011

"Nothing More Than Real Estate Porn?" I Say Nay Nay! Why real estate agents and Zillow are a match made in heaven:

On April 20th of this year CNN Money posted an editorial in which the contributing editor seemingly
attempted to vilify Zillow.com. Right out of the gate the editor makes his position quite clear; being that
Zillow, originally intended to bring translucence to an otherwise opaque market, had succumb to a
hegemony of real estate agents. The downfall with this argument is that it operates entirely upon the
assumption that real estate agents with their alleged “I’m-on-your-side fakery” are out to do nothing
more than “screw-the-customer.” From there the author discusses how Zillow is planning an initial
public offering, IPO, throws out some market statistics, followed up by an emotional tidbit about how he
and his wife were presumably ignored at their own closing, which given the nature of closings seems
unlikely; then riding the wave of this “heart wrenching” tale he strikes, proclaiming that Zillow had
jumped in bed with the big bad real estate agents and thus deviated far from its intended purpose of
bringing “a degree of transparency to an industry that had long resisted it.”Ding! Just like that this
turkey’s done; end of story. Well ladies and gentlemen, to this I say nay nay! While it may be true that
Zillow now caters to real estate agents, along with private citizens, this in no way is an indicator that
Zillow has fed into the machine, thus relegating the interests of the consumer to the back burner.
Although aspects of real estate may be, at times, seemingly complex the multifarious nature of real
estate is assuredly not nefarious. Akin to doctors, lawyers and bankers real estate agents are
professionals. Professionals who similar to the aforementioned professions are bound by law to adhere
to a set code of ethics. While I’m sure most of us can agree that any profession has its fair share of
unscrupulous characters this by no means makes that the norm. Code of ethics in mind those that
operate with in that “screw the customer” mentality are assuredly the exception and not the rule.
Buying or selling a home is more often than not an emotional experience which is precisely why the
inception of agents into Zillow.com will serve, not to pervert its intended purpose, but strengthen it.
Real estate agents, the majority at least, are trained professionals capable of helping clients traverse the
difficulties that occur in buying or selling a home. Considering that agents rely heavily upon referrals it is
in fact within their interest to do everything they can to ensure the clients satisfaction. If not the law
then the chance of repeat business, right? With the help of real estate agents Zillow can become, and in
many ways is already a powerful real estate search engine capable of leading potential buyers to the
home of their dreams.

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