What are we all going to do?

[John Moore]

Hey all,

I’m reaching out to get an opinion on this whole online buying craze in the housing market. So it’s been talk for a little while the Zillow and a few other companies are going to start buying your house almost instantly over the internet. I’ve been seeing a lot of “conspiracy” stuff and hearing people talk about it, well it’s getting kind of scary. So my question is who else thinks this is going to change the way we do investing now? Will we be out of business, especially one trick ponies like new wholesalers? Do you think his will help or hurt us, and why? All answers appreciated!

[Brooks Rembert]

Hi @John Moore, I have a story which happened just recently... 

I was on the prowl for a new buy and hold and ran across a promising looking place on Zillow. (I know, I know)

It was a BRRRR-looking dream, so I used the form on the house's Zillow page to ask a simple question...

"There appears to be some water damage. Do you know if there is any mold in the house?"

HO---LY--- HELL--- 

That sent off a firestorm of phone calls and texts from multiple robo-dialers, because unbeknownst to me, it was in fact a Zillow owned house.

I finally took one of the calls and the used-car salesman sounding guy asked if I minded being put on hold so he could transfer me to an agent.

4 minutes past and slick Willy was back.

"Bob's not picking up. Lemme put you on hold again and find another agent".

"No thanks". Click.

The moral of this yarn?

Yes, they're making a push into buying and selling houses online.

But if the "experience" doesn't improve DRAMATICALLY, home-buyers will be turned off and word will spread.

So just keep doing what you do... use your personal touch and don't run your business like a puppy mill --- all will be fine.

My 2 cents.