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Zillow's Spencer Rascoff ... "We Are The Biggest Real Estate Company."

By Greg Nino

Real Estate Agent with RE/MAX Compass 0524642

December 13, 2011 03:01 AM

Zillow was recently interviewed by Bloomberg T.V. Good for Spencer & Zillow.

Here's a few interesting quotes from the interview by Spencer Rascoff:

"Home values nationwide according to Zillow's data are down about 29% from the peak." 1:58

"We're the biggest real estate company." 3:00

"Real estate is very new." 3:11

In Houston our values as a whole are not down 29%, but more like 5-8% and in some areas we're actually seeing year to year appreciation. Zillow is the largest real estate company? I'm not sure how he or anyone can define who is the largest. General Growth Properties, The Simon Property Group and even Activerain could have an argument to this claim, not to mention RE/MAX or Keller Williams. The National Association of REALTORS® was founded in 1908. Zillow was founded in 2005 and launched in 2006, according to Crunch Base.

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Jason Crouch

Austin Texas Homes, LLC - Austin, TX

Broker - Austin Texas Real Estate (512-796-7653)

Wouldn't one of the requirements for being the biggest real estate company be that you actually sell real estate?

Dec 13, 2011 03:08 AM

Amanda Christiansen

Christiansen Group Realty (260)704-0843 - Fort Wayne, IN

Christiansen Group Realty

Real estate is new? Sweet. Glad I got in at the ground level. This is going to be GREAT!

Dec 13, 2011 03:09 AM

Greg Nino

RE/MAX Compass - Houston, TX

Houston, Texas

Jason,

According to myself I sell more real estate than Zillow has ever even thought of. But maybe I'm confused about what "biggest" is? Dunno.

Dec 13, 2011 03:10 AM

Jared,

I find it untrue that most agents advertise at bus stops. I, for one, have never advertised at a bus stop nor have I EVER seen bus stop advertising.

90% of my budget has been online since BEFORE Zillow was even launched. I guess this makes me ahead of the "game" so to speak.

Dec 13, 2011 03:12 AM

Alan May

Jameson Sotheby's International Realty - Evanston, IL

Home is where the hearth is.

I thought that size didn't matter???

(dammit, I knew it).

Dec 13, 2011 03:13 AM

Loreena and Michael Yeo

3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX

Real Estate Agents

Greg - Like Jason, I didn't know Zillow was a real estate company. I thought it was always a company that tries to make money off real estate people. No? I'm wrong about that? Gosh, where have I been.

Dec 13, 2011 03:16 AM

Zillow found a way to take our listings and sell the traffic back to us. I liked the part where he says.. "You take money from Realtors." Probably not fair to suggest, but funny.

15 thousand customers or 14 thousand? LoL!

Dec 13, 2011 03:22 AM

Doug Rogers

RE/MAX Coastal Properties - Destin, FL

Your Real Estate Resource!

Screw selling houses, the big money is selling to agents. 1) Gather as much of the general public as possible 2) The only quality control is access to the Internet 3) Sell these "hot" leads to agents.

The best part?? The more the market declines, the more time members of the public will spend researching housing online. AND the more agents will spend chasing fewer and fewer deals. Gotta love their moxy!

Dec 13, 2011 03:30 AM

Richard Iarossi

Coldwell Banker Residential Brokerage - Crofton, MD

Crofton MD Real Estate, Annapolis MD Real Estate

Zillow is using the tried and true method to make money...bilk the Realtor. If they all went to hell in a handbasket I couldn't care less.

Dec 13, 2011 03:35 AM

Christine Bohn

RE/MAX Professionals - Gainesville, FL

The Bohn Team, Gainesville FL

DiTTO to all the comments above mine. I'd like to curse here, but it's a public post so I will be a professional agent "working IN real estate: selling homes, closing transactions".

Dec 13, 2011 03:42 AM

Brenda Mullen

RE/MAX Associates - San Antonio, TX

Your San Antonio TX Real Estate Agent!!

Wow am I way ahead of the game! I didn't realize Real Estate was so new! I should be able to make a killing! Oh and Zillow...biggest Real Estate Company too! I guess I better go and sign up with them!

Dec 13, 2011 03:51 AM

Jo Olson

HOMEFRONT Realty - Kettle Falls, WA

Retired - HOMEFRONT Realty @ LAKE Roosevelt

Oh, geez!

Dec 13, 2011 04:42 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Oh geez . . . they can't EVEN GET WHAT THE DO CORRECT . . . let alone those "Zestimates" of theirs. They are an online real estate database that generates revenue by selling advertising (to REAL ESTATE AGENTS).

"the Zillow name evolved from the desire to make zillions of data points for homes accessible to everyone. And, since a home is about more than just data - it is where you lay your head to rest at night, like a pillow - 'Zillow' was born." (cited Wikipeia)

Yes, a home is EXACTLY like a "zillion" data points, and Yes, a home is where we lay our heads to rest at night. I know that's exactly where I lay my head to rest at night . . . right smack dab on top of my nice gushy home {rolling eyes} If that's how they came up with their name . . . is it any wonder how they dream up shit nonsense like this?

How Zillow Executives Brainstrom

Dec 13, 2011 05:37 AM

Nathan Tutas

Tutas Towne Realty, Inc. - Davenport, FL

Your Central Florida Real Estate Expert

Man, those guys are awesome! Where do I sign up? I want to give them $200 a month to send me crap leads and tell me everything I already know. This will be my best year yet!

Dec 13, 2011 07:56 AM

J. Philip Faranda

Howard Hanna Rand Realty - Yorktown Heights, NY

Associate Broker / Office Manager

I don't think he understands what a "real estate company" is in the sense licensees do. They are arguably the most trafficked real estate website. I got a call from zillow today and it agitated me so I guess I'll leave it at that.

Dec 13, 2011 10:19 AM

Christine Hooks

Pino Agency - Pennsville, NJ

Celebrating 25 Years in Real Estate!

If they are a Real Estate company, then WHY are we helping our competitor?

So strange!

Dec 13, 2011 04:37 PM

Zillow's Spencer Rascoff ... "We Are The Biggest Real Estate Company."

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