It is one of Toby’s favorite statements as he is building his real estate business. And, today word came out on the Zillow Blog that continues to make information cheaper.
For those that aren’t aware, Zillow is a site that is working to build a database that will allow people to create a comparative market analysis for their homes. This technology will make information cheaper and continue to change how real estate agents do business.
Agents that continue to belive that their job is to provide information — such as what homes are on the market or how much the home is worth — are going to feel the pinch. And it could be sooner rather than later.
But does that mean that Realtors will soon be heading the way of the dinasours? Well that really depends. You see agents that are like the dinasours will become extinct, but those that are willing to be open with their clients and add value to the transaction will not survive, but they will prosper.
I was sitting here on the couch just minutes ago, when a prospective client called Toby and started asking him about a home they were considering. He talked with them for a few minutes about the home, when the conversation quickly changed. The customer had spent time on Zillow and was giving information about the home’s value.
The conversation went from one of education, to one of adding value. Rather than “providing information”, Toby began “adding service” to the transaction. Yes that is the value that Zillow suggests for this home, is it accurate? How does it play into the market? All the things that an agent does to earn their money, during the transaction are now being done at the beginning of the deal. And it just makes me wonder why real estate agents are wondering why the sky is falling because of this program.