Thursday, July 9, 2009

Zillow traffic is through the roof. I'll bet their value for your home is off!

I get this all the time... Zillow says that this house sold for $X. Zillow says that 12345 Main St. is for sale. Just 'cause Zillow says it doesn't make it so...

Here is an article from PR Newswire giving traffic statistics for Zillow. They are quite impressive.

Zillow.com(R) Traffic Grows 67 Percent Year-over-Year in First Half 2009

Amid real estate market uncertainty, homeowners, buyers and sellers turning to Zillow(R) in record numbers for research and advice

SEATTLE, July 1 /PRNewswire/ -- Real estate Web site Zillow.com today announced it broke multiple records for site traffic and user activity in the first six months of 2009. An average of 8.3 million unique users visited Zillow each month during this period, which is an increase of 67 percent year-over-year(i). Additional milestones include:

  • 44 percent year-over-year growth in page views in the first half of 2009.
  • 35 percent more for-sale listings on the site in the first half of 2009 versus a year earlier, as the result of more listings feed partnerships with brokerages and Multiple Listings Services. In total, 3.6 million listings are posted on Zillow today.
  • More than 535,000 people have downloaded the Zillow iPhone App since its launch in late April, more than any other real estate-related app.
  • Consumers submitted 265,000 loan requests on Zillow Mortgage Marketplace in the first six months of 2009. Lenders responded with 3.5 million custom loan quotes during this same period.

"Home prices continue to drop in many areas, mortgage rates change constantly, and people have a lot of questions about their homes and their local markets. This is driving record numbers of people to visit and engage on Zillow.com," said Spencer Rascoff, Zillow's chief operating officer. "In addition to seeking real estate listings and data, potential buyers and sellers are voracious for information and are asking questions in Zillow Advice, and getting answers from real estate professionals in their communities."

The Zillow Directory of real estate professionals now lists nearly 200,000 real estate agents, and more than 12,000 lenders who have created a profile and are active on the site. In fact, 25 percent of Zillow's monthly traffic - or 2.1 million unique visitors in June - self-identified as a real estate professional.

If you've read this far you probably are impressed. I am. The question is... Why aren't these people asking realtors? Well maybe they are. I know I say "don't trust Zillow for anything but a ballpark guestimation." "Go to my website and search the MLS. It will give you better results."

What do you think of Zillow?


Please visit my website at: www.bigmark.net

You'll find many great resources to help you navigate the real estate world. World class search engine, smart phone application, YouTube, Twitter and other helpful things. Visit or give me a call today.

Mark Wilson - J Rockcliff Realtors, Inc. (925) 890-6400 mark@bigmark.net

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