Using Your KnowledgeZillow.comPage 323

Question #3

Team BIdalia Fabregas

Annette ImmellaSergio MartinsHuascar Teran

ZILLOW.COM

Idalia Fabregas

ZILLOW.COM

Address Listed Sold Date

94 Agress Road, Perrineville, NJ 596,000 588,000 1/2/09

6 Mountain View Court, Millstone Township, NJ 610,000 595,000 8/17/2009

17 Deer Trail Drive, Clarksburg, NJ 611,500 517,500 8/28/09

Do you think this site violates anyone’s privacy? Why or Why Not?The site http://zillow.com does not violate anyone’s

privacy because what someone lists or pays for their home is public knowledge which can be obtained from city hall upon request; or even from a realtor or mortgage company at any time.

Sharing the price of a house helps a homebuyer understand the worth and enables them to make informed decisions.

Annette Immella

ZILLOW.COM

Address – Union, NJ Value - 2009 Sold Date

511 Clubhouse Court - Unit 12 230,500 210,000 9/11/2009

521 Clubhouse Court - Unit 8 230,000 210,000 9/30/2009

531 Clubhouse Court - Unit 6 234,500 232,000 9/25/2009

Find and describe features that demonstrate that Zillow.com is a Web 2.0 companyWhat is a Web 2.0 Company?

Features that demonstrate Zillow.com is a Web 2.0 company are as follows:Frequent releases of perpetual betasViral MarketingValue increases with use and userMashups

Explain why this site might be considered a threat by traditional real estate companies.

An Education

Consumer

Alternative to

Real Estate

Agents

Honesty

Huascar Tehran

ZILLOW.COM

Address Value 2009 Sold Date

16 Wittenburg Street, Woodbridge, NJ 342,500 311,000 3/11/09

14 Wittenburg Street, Woodbridge, NJ 325,000 - -

114 Fords Avenue, Fords, NJ 313,000 300,000 1/8/09

How might real estate agents use Zillow.com to market their services?

Real estate agents can really use the Zillow site to their advantage.

#1 Advantage is to post their listings on the site

Accessiblitiy with Local Real Estate Data

Zillow Offers an “Accuracy Chart”

Sergio Martins

ZILLOW.COM

Address - Union, NJ Estimated Value 2009 Last Sold Date

894 Carteret Ave $316,500 $172,000 10/11/2001

890 Carteret Ave $358,000 $135,000 2/14/2000

887 Townley Ave $374,500 $147,000 5/28/1997

947 Carteret Ave $305,000 $166,000 12/17/2008

How might real estate brokers (those who own agencies) use Zillow.com to their advantage? Many agencies have and are gaining an enormous advantage by

using zillow.com which allows them to advertise and have links to their agencies website for every listing.

Zillow.com brings free traffic to a broker’s website.(advertising being zillow’s only form of profit)

Agencies use zillow.com as an avenue to maximize their profit by advertising on such a site and having millions of people visit their sites on a daily basis.

Individuals who use zillow.com as primary source of information will find many of the agencies advertised as trusted sources.

Zillow.com also allows viewers to see what the real estate market may be like in any given city, comparison in prices from city to city, key factors of each city making it attractive for consumers and for many agencies to advertise.

Concluding these factors, they all contribute to the vital aspects of any real estate agency; more committed buyers. Ultimately saving valuable time.

Statistics of zillow.com Zillow.com currently has a daily traffic flow of 90,000

people and its traffic is growing at least %70 every year. Zillow.com is as well the number 1 most affluent real estate

site, $90,000 household income, number 2 of any major website (WSJ.com #1).

Such statistics are undoubtedly attractive to any broker (real estate agencies). What broker would not feed his or her listings to a website with such a high volume of traffic?

85% of these individuals own a home. 2/3 in the market to buy and 1/3 are not. 25% of the traffic uses zillow.com as “primary shopping

site”. 75% consumers and 25% are real estate pros. In essence

many first time home buyers use this website as guidance.

ANY QUESTIONS?