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Rain Radio: ComputerSide Chat with Zillow's Brad Andersohn

By
Services for Real Estate Pros with ActiveRain

Have you ever had a client say "But Zillow said my house was worth.........."

When we ask this question at RainCamp, it's not uncommon for more than half the hands in the room to go up. I have a little secret for you all.....Zillow isn't going anywhere soon, so it's in your best interest to understand how to deal with that question and establish yourself as the expert, instead of Zillow.

Zillow is a marketing company, their stated goal is to connect real estate agents with consumers so they can get a professional opinion of the value of their home (That's my interpretation of their goal, Brad can clarify if I missed it by a little bit). The 'Zestimate' is not the actual value of a home, it's an estimated value based on a variety of factors, none of which is the professional expertise of an agent that knows the in's and out's of a market.

But, since Zillow is attracting massive numbers of consumers every month, many who are interested in the value of their home as they think about selling, as a real estate agent, you need to understand the 'Zestimate'. You need to understand what tools they provide you to help get the consumers expectations in line with what the market is doing. You need to understand that you can no longer afford to be unable to address the "But Zillow said my house was worth......" comment.

(you need to understand where on the site it is that they show their average error)

Here's another little secret, Zillow has a bunch of other tools that real estate agents can take advantage of, for free and we'll get the scoop on those as well.

My guest on Friday at 12:00pm Pacific Time (3pm Eastern Time) for Rain Radio will be none other than Brad Andersohn, the new Industry Outreach Manager at Zillow. Brad was previously the community manager here at ActiveRain and he has been helping real estate agents market their business for over 20 years.

Brad's also happens to be a good friend of mine, so you can expect me to pull no punches while we chat about Zillow, how Brad is adapting to his new role and how much he misses talking to me on a daily basis (You'd better say you miss it Brad!).

If there are any questions that you would like me to ask Brad, please leave a comment here and I will do my best to get as many of your questions answered during our 30 minute chat as I can. You can click the button below to be reminded about our chat on Friday and we look forward to having you join us.


(and maybe I can get him to tell you why he, Jon and I are dressed in those ridiculous robes in the photo above)

Posted by

Bob Stewart
ActiveRain Ambassador

 

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Comments (72)

Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Bob, I'm delighted that you're making it available to hear afterward since I have a 2pm appointment and hate to miss it!

Dec 16, 2010 06:36 AM
Simon Mills
Mills Realty - Toluca Lake, CA

I'm all about spinning a negative into a positive, but the Zestimate would be much better if it could be fine tuned.  I'm looking forward to hearing the tape delayed version.

Dec 16, 2010 07:02 AM
David Cox, Broker/Owner*coxre.com*303.921.3908
Cox Real Estate Group - Highlands Ranch, CO

Thanks for the audio, should be very informative.

Dec 16, 2010 07:24 AM
Eric Robbins
New Rulez Marketing, LLC - Orinda, CA

I don't mean for these QUESTIONS to be antogonistic - I have much respect for the contribution Zillow makes to the home buying experience. And kudos to Zillow for surpassing Realtor.com for total monthly views (Alexa Internet). I have two questions:

#1 What percentage of the total homes for sale in the U.S. and world appear on the Zillow site? How are the missing homes accounted for in the Zestimate?

#2 What are the demographics of the missing homes - average price, suburban vs. urban, time on market and agent data? I know this information may be difficult to obtain (or give out) but I think it would be totally interesting to know in light of the wrestling match going on between NAR and the growing cadre of competitors for listing data.

Dec 16, 2010 08:26 AM
Phil & Celeste Pafford
PaffordHomes.com, Corona CA - Corona, CA
Corona Short Sale Broker

Let me join the choir and sing... I'm not a fan of zillow.  In a world of slow steady even growth, it can work, but in today's fast paced "ever" chang'n market... it don't work!  But as you say, it aint go'in anywhere!  ;-)

Dec 16, 2010 10:45 AM
Leah Henderson
Asset Realty, Inc - Columbia, SC
Nice, thanks for this opportunity.
Dec 16, 2010 10:55 AM
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Hi Bob~  I am hoping I can make it.  Brad is one of my favorites!  Zillow lucked out getting him on their team!

Dec 16, 2010 11:00 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Bob...

Sounds interesting ... I hope that I get a chance to tune in!

Dec 16, 2010 11:10 AM
James Harner
Considering Selling Your Home? Call 610-310-7646 first - Royersford, PA
James Harner Group - Philadelphia PA Real Estate

Thanks, Bob! I surely hope I can tune in as well!  Looking forward for it!

Dec 16, 2010 11:55 AM
John Elwell
CENTURY 21 Bill Nye Realty, Inc. - Zephyrhills, FL
You Deserve a Full-Time Agent, Not Reduced Results

My sellers tell me not to put my listings on Zillow since they do not want the inaccurate estimates attached to them. As a single agent, I must follow their orders since that is a part of my fiduciary responsibilities to them. My listings appear on so many sites that not using this one is no problem. And in our office, I have never found anyone who got a lead from this site. My problem is that when you get so big that you do not feel you have to listen to those whose efforts make your site work, you are in danger of creating so much ill-will that as a site, you fail to live up to your potential. There has to be some reason why the BBB does not rate it very highly. But no matter, I just do not use it and my sellers still get their homes sold for good prices.

Dec 16, 2010 03:13 PM
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

I'm gonna try to be there live.  I read all the comments.  Expected more Zillow bashing.

Dec 16, 2010 06:41 PM
Scott Fogleman
Richmond, VA

I signed up, would like to hear what he has to say!

Dec 16, 2010 10:01 PM
Kate Reilly Lund
RE/MAX Diamond, Realtors - Edison, NJ

It's great to be able to download a prior broadcast and listen when you can. Zillow is a very strong influence in our business. I use it for advertising, I tell my clients that it is not a source of realistic figures, but a good source of information nonetheless.

One seminar leader said that Zillow is correct 14% of the time! Wow sounds like the approval of our US Congress. We need them, they contribute and yet they are sitting with a 14% approval rate.

But, I am a Pollyanna! I believe Zillow's stats will improve and I believe the Congress will too. Call me a Dreamer. I just love selling houses.

Katie

Dec 16, 2010 11:04 PM
Josette Skilling
Keller Williams Capital Properties - Bethesda, MD

Zillow uses the public records to build their zestimates.  Anybody looked at the assessed values in their area  lately and questioned them?  Since our tax records are typically about 3 months behind a closing, the MLS data is much more accurate than the tax records ever will be.

I suspect the slow response time of settlement companies to file, increased workloads of county workers to get all the data input done in a timely manner and a multitude of other reasons mean the public simply doesn't get up to date info.

I met with a seller who saw $375,000 as a zestimate.  Where did that come from?  The Maryland tax records show an assessed value of $375,000.  Latest sales are for $250,000 or so.

So who is wrong here?  The source of the data is MD, not Zillow.

But we have the correct info.  Use it!

Josette Skilling

Dec 17, 2010 02:18 AM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Listened in today.. good dialogue on Zillow..

Zillow is blessed to have Brad.. hope they realize that! 

We all know it.

:)

Dec 17, 2010 08:08 AM
Robert Courtney
Lihue, HI
Century 21 All Islands, RA, CDPE, MCRE, CIAS

Liked "Zacktimates!  8-)  Good to learn first hand about Zillow.  Have heard of them, but did not know how prevalent they are.   I liked learning to be proactive in knowing what the Zillow number is before talking with a client about a property.

Dec 17, 2010 08:08 AM
Brad Andersohn
Retired Executive Director of Education at eXp - Boulder Creek, CA
ActiveBrad - 707.646.1876

Thanks again for having me on your show today Bob, I always enjoy chatting with you.

Looking forward to seeing you and the Mrs. at the next RE event wherever that may be. 

Happy Holidays!  :-)

Dec 17, 2010 09:05 AM
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

I just listened to the recorded one and ....it was nice hearing you both :)

Okay, on the serious side... I will navigate around Zillow and see if the tools available now are helpful vs. before.

So....HAVE A VERY HAPPY HOLIDAY SEASON!

 

....root canal Brad? Must have taken a lot of tylenol :)

Dec 17, 2010 10:41 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Well, I am certainly glad that this is available after the fact since I just saw this post. I am going to listen to the recording. As for the robes, that guy in the center sure looks like he is going to spring out of the photo and bite somebody! Was that intentional? You guys do have fun, don't you!

Dec 21, 2010 09:04 AM
Margaret C. Taylor
Century 21 New Millennium MD - Mechanicsville, MD
St Marys/Calvert/Charles MD Real Estate Agent

I have to listen to the recording too.  I was surprised when Brad moved over I'll be interested to hear his presentation.  Margaret C.

Dec 22, 2010 02:16 PM