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A few months ago, Zillow announced that it was going to buy Trulia for $3.5 billion. Many of our clients use these sites to start their home search - now they're coming to us and asking us what it all means.
These sites support themselves by selling ad space to agents like us. In fact, we spend thousands of dollars to make sure our clients' homes are as high on those sites as possible, so they get maximum exposure. Some think that the merger signals that traditional real estate is done for, while others think perhaps Zillow is just another Myspace - that it will be the 'big thing' until the next thing comes along. In reality, it's likely that neither of these scenarios are true.
Let's take a look at the numbers for some perspective. Zillow gets 80 million unique visitors a month, despite the fact that only around 6 million homes are sold a year. This confirms the fact that Zillow serves primarily as a place for casual lookers, not serious buyers.
It's likely that nothing will come of the merger. The sites will still be used as they are now - a place to start or to browse, but not to buy. The sites will still be full of inaccurate and outdated information - and they still won't have access to the necessary resources to give accurate estimates.
The best place to go for information still is, and always will be, a real estate professional. Our websites for the Kansas City area, SearchKansasCityNorthHomes.com and ChipGlennon.com, allows you to search data that is directly linked to our MLS, so you never have to worry about finding a perfect home only to find out it's no longer available.
As always, feel free to give us a call, or shoot us a text or email, with all of your real estate needs. We would be pleased to assist you!
