Zillow CEO Talks About The Importance Of A Real Estate Agent

Wasn’t Zillow created to put the realtor out of business?  Well that’s what we all thought when they burst on the scene a few years back. Apparently not.  The internet has definitely changed the game, and some real estate agents are adapting and others are not.  The new role of a realtor is to be an Expert Negotiator, a Skilled Marketer, and a Savvy Communicator.   According to Spencer Rascoff, the consumer has SO much data at their disposal, an agent has to become an interpreter of that data.  This is where I have found my value proposition to clients.  If you can clearly communicate the nuances of the changing market and how that impacts the transaction, consumers will see value in having a true consultant by their side.

Does The Accessibility Of Data Help The Consumer?  

The problem is, too many consumers take the accessibility of this data and think they have the golden ticket and treat a real estate agent as nothing more than an order taker.  Someone who writes contracts and opens doors.  Believe me, I have worked with a TON of agents that really are nothing more than order takers.  They are afraid to voice their opinions or stand for anything out of fear that they will loose their clients and ultimately their paycheck.  In this scenario does the consumer really benefit?   In my opinion NO!

What Real Estate Can Learn From Web MD

Let’s look at the issue of data from the lens of another industry.  In the medical industry Web MD provides about as much data as you can think of for the medical industry.  But does that mean that the patient should self diagnose and bypass getting the advise of a doctor? Would you?  Think about that for a second.  Think about all of the misdiagnosing and fear and uncertainty that is evoked by not having the experience and guidance of a seasoned doctor to walk you through the process.  Missteps can be can be catastrophic.  Now I’m not saying that buying or selling your home is quite on par with the work of a doctor.  I get that!  But it is quite possibly the biggest asset you own or will own. So the advice of a trusted consultant is paramount.

So my question becomes, who are you working with?  Is your agent just an order taker?  Or are they a good agent and do you see the value in what a real estate agent brings to the table like the CEO of Zillow does?