I truly don't mean to beat a dead zebra, but comparisons between Zillow and the travel industry keep bubbling up.
Lonnie Delacava commented on this issue saying, in part:
I don’t suspect that Barton and Zillow have any more respect for Realtors than they did for travel agents based on these comments from Zillow CEO Richard Barton in the New York Times:
"…is it rational to pay Realtors what they are paid?" He says he thinks they are overpaid…
http://www.nytimes.com/2006/02/08/business/08real.html?ex=1297054800&en=5892d422b169a166&ei=5090
What a slap in the face to Realtors. They won’t even mention Realtors on their website and they’ve publicly stated that, “Realtors are overpaid.” Why would any Realtor support Zillow? Baffling to say the least!
This reminds me of the famous “Trojan Horse” story where they come in peace bearing gifts at first… Then in the middle of the night, when they least expect it… the kingdom is slaughtered.
I just don't think we can compare the travel industry with real estate sales. And if the folks at Zillow feel they are in similar territory, that would be a mistake.
With travel agents I never saw:
1)Extensive disclosures regarding the transaction, the hotels and the transportation.
2)Financing that involved up to 30 years.
3)Agents repeatedly showing various accommodations--even if it meant working after hours or on weekends.
4)Taking required continuing education.
5)Carrying errors and omissions insurance (does Zillow do that?)
6) Paying most of or all their own expenses.
7)Representing clients in what is probably the largest investment of their lives.
Hmmm...I wonder if Realtor.com might consider advertising on Z's site???
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