ZILLOW REVIEWS

A few days ago, I posted a treatise on “Transparency in Real Estate”.  Or, more specifically, the lack of transparency in real estate when it comes to what agents actually sell.

When I meet with buyers and sellers, I often carry several binders along with my tablet computer and presentation materials.  One is a book with over 60 laminated monthly market spreadsheets, dating back to 2007, which allows me to quickly show how our market has evolved over the past few years and allows for quick year-over-year market comparisons.

I also carry a book consisting of laminated MLS printouts of all the properties I've sold in the past 36 months.  This allows me to show and compare homes I’ve sold by price point, location, chronologically, etc. 

I’ve got a new book I'm carrying, however, and this one is growing almost daily.  It’s client reviews that have been posted to Zillow.com, and as of today, I have nearly 50 of them from buyers and sellers.  (I just did a quick search through Zillow’s agent review database, and it appears I currently have the fourth most Zillow reviews of any agent or team in the Denver metro area).

I have written about Zillow on this site before, and my feelings haven’t changed.  Although many of us in the industry hate “Zestimates” for many reasons, they are here to stay.  And the truth is, Zillow’s iPhone app beats just about anything else out there for historical property data (although its real time data feed for MLS listings is very often out of date). 

Zillow provides a treasure trove of information about neighborhoods and homes values, and I have decided to embrace it.  Thus, several weeks ago I began reaching out to past clients and asking them to review me on the site.  From that, I have nearly 50 unbiased reviews from real customers for the whole world to see.

Because I think transparency is a winning strategy, I actually purchased the domain name www.ZillowReviews.com, which redirects to my agent review landing page within the Zillow website.  From here, prospective clients can see and read everything that my clients have said about me, unabridged and without edits.  

Also, to be clear, I do not pay any money to Zillow for advertising or other services.  Although Zillow most certainly would like to make me a "Premier Agent" (i.e., sell me advertising rights on their site), I don't do it.  I want what people find about me online to be organic and unbiased.

I know for a fact that the 80/20 “Pareto Principle” is alive and well in real estate – 20% of the agents do sell 80% of the houses.  Consumers need to know who is in that 20% group, and they need to know whether agents in that group personally own their transactions, or if they are “farmed out” to lesser known team members whose sales are reported under the leader’s name.

As I said back in August, the recovery in our real estate market this time is going to be far more rational and sustainable than what we’ve seen during previous booms, because now, for the first time ever, the consumer has access to almost unlimited information about the market. 

Real estate property data is no longer hidden behind a veil, accessible only to dues-paying MLS members.  It’s out there in 100 different places online, and as the IQ of real estate consumers increases, their demand for a matching transparency from agents will only ring louder. 

I’m getting in front of this wave, because it’s a big one.  And I have a record to be proud of.  See what nearly 50 past clients have said online at www.ZillowReviews.com.