Zillow Launches: Valuation Tool For Homeowners
The long anticipated launch of Zillow.com occurred last night in Beta form. The company unveiled the product which will provide valuation services for homeowners. By providing the service online, Zillow hopes to provide an accurate valuation for homeowners and buyers in the real estate marketplace.
While others charge for this service online, Zillow is going to be working off of an advertising revenue model so the product will be free for consumers. I personally think this is the way to go, as people are reluctant to part with their money if there is a free alternative available. The initial feedback
Richard Barton, founder of Zillow.com says on his blog:
We experimented with several different ideas early on, but, after talking with many consumers and agents, we landed on the ambitious goal of trying to place a value, what we cleverly call a “Zestimate,” on every house in the country and making this freely and anonymously available to anyone — kind of a “Kelley Blue Book” for homes. Additionally, we have tools with which anyone can analyze home price histories (like analyzing a stock), look at “comps,” and refine our Zestimates with information that only someone who has been in the house could know.
(It looks like the site is getting pounded right now as people are checking it out, so if you are trying to get onto Zillow.com be patient.)
It is definitely the buzz of the real estate blogworld today and the media.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Pingback by Zillow Secrets Revealed? Some were today… » The Real Estate Bloggers on 8 February 2006:
[...] Zillow went live with their beta today. We have it covered here. The following was a prognostication I made a few weeks ago. [...]