Why Zillow Has been our Best Friend, or Why I Hate to Love FSBO's

Services for Real Estate Pros with The Reel Estate Network

by Wayne Clark, The Reel Estate Network

As a video marketing company we have noticed that during the past 6 months, as the market has slowed even more, Realtors have not been marketing new listings as aggressively, as they have in the past. Fewer Realtors are using broadcast video due to the expense. Part of this is due to the abundance of bank owned properties available at low prices, so I am guessing that these are easier to sell, then to promote a new listing. We have been promoting to FSBO’s, with great results. They will actually spend more money and get a better video package then most of our Realtor clients do. The two complaints that I hear about realtors are, they don’t market their homes, and bring enough buyers in, and the other is that they tell the owners that their property is overpriced. I just received an order for a video yesterday, from another FSBO, and I asked the same question, “why are you selling it yourself”, and they also told me that Zillow says their house is worth more then a local Realtor told them.

Personally, I believe these people are wrong, vain, and borderline stupid.  I know that these are harsh words, but buying or selling a home today by yourself is like swimming with sharks.  When you want professional results, you hire a professional!  After I have completed the video, uploaded it to the different marketing sites, collected my fee, I then tell them that I do know some realtors who will promote their home, screen buyers, and solicters like me.  I also mention that there is now way a web site like Zillow can possibly give an accurate appraisal of their home without ever seeing it, or their neighbor hood.  I do have about five good realtors that I will refer them too, depending on the area that they live.  So far, I am running about 90% in getting to to go back to using a Realto. By the way, these Realtors all use video to help get their listings.  Check your local market by going to Google, and you might be surpirsed on how many people in your own area are now doing FSBO's  So for now, I am loving Zillow and FSBO's


Comments (1)

David W. Bolick
Network Real Estate, Inc. - Little Rock, AR

Wayne...if you're in California...God help you.  Everything there is too expensive.  I don't know how many times a potential buyer looking in my town ask me "Do you realize how much this house would costs in California"?  A $400,000 house here is about $2,000,000 in CA.  So if someone depending on Zillow, wow..that's one major screwed up FSBO.  Without an agent in CA, you couldn't stand a chance!

Feb 28, 2009 08:50 AM