Zillow's new "Instant Offer" gets them into the investing game

[William C.]

Zillow rolled out a "test" in 2 markets recently in Las Vegas and Orlando. Simply put they give sellers the option to review up to 15 instant offers from investors they have lined up. A CMA is also provided from a local agent which is supposed to show the seller what they might expect if they were to list as compared to the current offers on the table. The real estate community is already up in arms about it as Zillow begins to bring buyers and sellers together without being a broker. What does the investor community think about this move? Surely this will have an impact on the way business is done in the future. Zillows brand awareness sets them head and shoulders above the small time investor trying to compete online for motivated seller leads. As an agent and investor I certainly won't let something like this hold me back from achieving my goals, but to ignore the beast and act like I won't be affected in anyway down the road would be foolish.

[Account Closed]

While i agree that Zillow "Zestimates" are garbage, and the site is generally terrible.. If you for one minute think that the technology is going to slow down, you're going to have a tough time in the coming years. We already see virtual stagings, 3D floor plans.. how far off do you think virtual showings are? How long do you think it'll take until they get the algorithm to account for updates and become pretttty accurate? Once they get it right, how long do you think it'll take before a younger generation realizes they don't need to cough up 6% of their homevalue to agents when it can all be done online? 

If anyone thinks that this trend will die off or reverse.. you're in for a rude awakening. Adapt or die.