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Zillow has substantially mitigated the loss of Move.com/Realtor.com by forging direct relationships with numerous MLSs since the cutoff in April. > Since Janua
by meritt 11y ago
Zillow has substantially mitigated the loss of Move.com/Realtor.com by forging direct relationships with numerous MLSs since the cutoff in April.
> Since January, more than 300 MLSs have signed agreements to send listings directly to Zillow and Trulia, providing their members access to the largest audience of home shoppers on mobile and Web 1.
http://investors.zillowgroup.com/releasedetail.cfm?ReleaseID=925723 http://investors.zillowgroup.com/releasedetail.cfm?ReleaseID...
The sampling methods used by the author are extremely poor. Miami, FL on Zillow.com and Realtor.com are substantially different areas. Just do a search yourself and look at the map. Realtor appears to be using the metro while Zillow's site defaults to "Miami" only. They need to extract 100% inventory and use exactly the same geofenced boundaries if you want actual 1:1 comparison. Their conclusion may very well be correct but the data sure as hell does not support it.
If you want to criticize Zillow, there are far easier methods than this one. How about that Trulia acquired MarketLeader for $355M (Apr 13), Zillow acquired Trulia for $2.5B (Feb 15), and Zillow just sold MarketLeader for $23M. How much of Trulia's $2.5B pricetag was in recognition of Market Leader's "value"? I'm guessing we'll see at least $200-250M or so drop from Zillow's goodwill ($1.8B as of 6/30/15) on their balance sheet for Q3-15.
- smackfu 11y agoThe problem is that if the MLS that covers your area didn't make a deal with Zillow, the overall stats don't really matter. Zillow will be useless for house shopping.
- uxp 11y agoI bought a house in Salt Lake City in June. Zillow (and Trulia, etc.) have piss-poor integration in this market, which left our house marked available for weeks after our closing date. I had to chase someone away who was snooping around my back yard 6 weeks after moving in because they thought the home was unoccupied (we hadn't moved in because I was remodeling parts of the basement). They may provide a better UI than the abysmal MLS sites your agent recommends, but they don't do much more in (as the article suggests) the +60% of markets they don't have listing contracts with.
- ramenmeal 11y agoThey can still get listings from brokerages.
- Shu_snafu 11y agoBuildZoom just updated their numbers to county vs county comparisons that get around the problem of inconsistent geographical boundaries in some cities. The story remains.
- meritt 11y agoBuildZoom is utterly incompetent. Take a look at this: http://imgur.com/a/X2ajc http://imgur.com/a/X2ajc Notice how Baltimore County, MD includes Baltimore + the county on Realtor.com (8,579 properties) and Baltimore County, MD on Zillow does not include the city itself? 4523 vs 8579 is indeed ~52.7%. However when you include Baltimore, MD on Zillow too? An additioanl +4211 listings. (4523 + 4211) = 8734 VS 8579. Seriously BuildZoom. Get your shit together. You are still not comparing the same areas!
- Shu_snafu 11y agoOk. So thanks to your post they will fix Baltimore. But what about the other 50 cities? Once they fixed the initial geographic boundaries issue, you're just attacking the sidelines.
- meritt 11y agoI simply looked at the first city and found the exact same issue. Given that was the problem originally reported, the problem we still present after it was "fixed", at this point I think the onus is on you guys to prove it's accurate.