More smart money into online real estate space ... Series C Round.
Here's a good take/analysis on the deal & space from Matt Marshall at VentureBeat... comparing Trulia to Zillow.
Check out Glenn Kelman's (CEO of online broker RedFin) comments about management' talent/education & experience on Trulia vs. Zillow - quite amusing.
VentureBeat Article.
Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts
Thursday, May 24, 2007
Tuesday, March 06, 2007
Google's Play into Real Estate
Google's foray into Internet domination continues. Watch out Craigslist, Realtor.com, Ebay, et al.
It was announced yesterday that the company is teaming up with Trulia, one of more interesting online real estate plays today, to host real estate listings with a company called Realogy. It makes sense to me.
Real estate listings are a big draw for consumer eyeballs and this type of hot inventory is the way to start building momentum on Google Base, their searchable database. In online real estate, it's not easy for any ABC company to scale listings nationally due to the fragmented nature of the MLSs. MLSs are essentially little fiefdoms across the country who still control the distribution of property listings within their "jurisdictions." (That will slowly erode over time.) It's this reality that allows Realtor.com to maintain its hold as the #1 property listings site because of their special relationship with the National Association of Realtors (NAR).
Google's partnering with Trulia who already uses their technology (Trulia is a mashup) and a Realogy who has a base of core listings allows Google to put in a stake in the ground on real estate content.
This does beg the question of how much market power and reach Google will eventually achieve in all categories and verticals on the web. They've upped the ante in the game for online real estate players who's focus has been building a consistent pipeline of traffic to their site - giving consumers another choice/option for listings while building another channel for their advertisers to reach such consumers.
It was announced yesterday that the company is teaming up with Trulia, one of more interesting online real estate plays today, to host real estate listings with a company called Realogy. It makes sense to me.
Real estate listings are a big draw for consumer eyeballs and this type of hot inventory is the way to start building momentum on Google Base, their searchable database. In online real estate, it's not easy for any ABC company to scale listings nationally due to the fragmented nature of the MLSs. MLSs are essentially little fiefdoms across the country who still control the distribution of property listings within their "jurisdictions." (That will slowly erode over time.) It's this reality that allows Realtor.com to maintain its hold as the #1 property listings site because of their special relationship with the National Association of Realtors (NAR).
Google's partnering with Trulia who already uses their technology (Trulia is a mashup) and a Realogy who has a base of core listings allows Google to put in a stake in the ground on real estate content.
This does beg the question of how much market power and reach Google will eventually achieve in all categories and verticals on the web. They've upped the ante in the game for online real estate players who's focus has been building a consistent pipeline of traffic to their site - giving consumers another choice/option for listings while building another channel for their advertisers to reach such consumers.
Wednesday, September 20, 2006
Zillow's Aiming at Customer Acquisition
Zillow came out with a new feature that is aimed at getting consumers more engaged and making their Zestimates more accurate.
Sounds like a win-win for the company and consumer.
What is it? A homeowner can edit their home facts.
The homeowner gets to set the facts straight on their home (SF, # bedrooms, bath, etc.) which will "help improve the accuracy of your Zestimate over time."
Very smart.
Why wouldn't every homeowner in America want to make sure their home is shown in the best possible light? Especially when it's time to sell.
Great in theory but in order to do this. The homeowner needs to REGISTER (ah ha!) and completing this process isn't exactly easy.
They need to verify you as the homeowner. That means you must provide either a credit card number or fax/mail a copy of your deed/title, mortgage statement, tax assessment, or utility bill to the company. How big of a barrier is this? I, myself, am not going to do this until others are using the Zestimate as a viable and trusted source for home values. It's a bit of a chicken and egg problem.
It's darn interesting to see how Zillow is trying innovative ways to build a relationship with their customers. I do wonder how many folks are going to take the time to pluck down a credit card or even fax a personal financial document to the company. Time will tell.
Here's a link on How To: Edit Home Facts.
Sounds like a win-win for the company and consumer.
What is it? A homeowner can edit their home facts.
The homeowner gets to set the facts straight on their home (SF, # bedrooms, bath, etc.) which will "help improve the accuracy of your Zestimate over time."
Very smart.
Why wouldn't every homeowner in America want to make sure their home is shown in the best possible light? Especially when it's time to sell.
Great in theory but in order to do this. The homeowner needs to REGISTER (ah ha!) and completing this process isn't exactly easy.
They need to verify you as the homeowner. That means you must provide either a credit card number or fax/mail a copy of your deed/title, mortgage statement, tax assessment, or utility bill to the company. How big of a barrier is this? I, myself, am not going to do this until others are using the Zestimate as a viable and trusted source for home values. It's a bit of a chicken and egg problem.
It's darn interesting to see how Zillow is trying innovative ways to build a relationship with their customers. I do wonder how many folks are going to take the time to pluck down a credit card or even fax a personal financial document to the company. Time will tell.
Here's a link on How To: Edit Home Facts.
Monday, August 07, 2006
Zillow Thoughts, First of Many
A lot of my friends from around the U.S. have asked me what I think about Zillow.com. You've probably heard or read about them in the press. Zillow is the Seattle-based real estate start up that provides consumers with a free valuation on homes. The founders have managed to raise a significant amount of capital, $57 million, in 2 rounds which means there's an expectation that an exciting pipeline of new features and tools are on the horizon.
I personally like Zillow's site. It's got a fun, campy feel to it and the value proposition is pretty compelling. It's going to tell me the value of my home (or my neighbor's or my boss's or Bill Gates' home if you have his address). No strings attached.
I'd say that's a pretty big hook for the consumer. A few thoughts here...
The user/consumer needs to buy into this number. Do I believe it? Does the market believe it and use it? I.E. buyers, sellers, realtors. Zillow will need to fine tune and continue to invest in the Zestimate so that folks start to respect and treat it as a leading market indicator of value. Otherwise, the allure of the Zestimate could fade quickly and it becomes another hokey online tool.
Also for the ad business model to work, there's the issue of getting the consumer to stay on site. A one trick pony a business model don't make.
Right now, once I've looked up my target home, say my buddy Mark's in San Diego, I get my jollies sated and leave. I need something else compelling to click, read, etc.
While the company has done a great job of getting folks to the site (ave. 3-4 million unique visitors/month), what are they going to do to keep them there in the long run?
New content, services. Certainly. More recently, they've aded a financing tab and heat maps of cities around the U.S. to help with this.
I do wonder, though, about the ultimate opiate that will keep folks on-site .... listings?!?
You heard it here first. If Zillow were to somehow infiltrate the world of the Multiple Listing Service (MLS), I'd be first in line to put my meager savings down for a round three of financing.
I personally like Zillow's site. It's got a fun, campy feel to it and the value proposition is pretty compelling. It's going to tell me the value of my home (or my neighbor's or my boss's or Bill Gates' home if you have his address). No strings attached.
I'd say that's a pretty big hook for the consumer. A few thoughts here...
The user/consumer needs to buy into this number. Do I believe it? Does the market believe it and use it? I.E. buyers, sellers, realtors. Zillow will need to fine tune and continue to invest in the Zestimate so that folks start to respect and treat it as a leading market indicator of value. Otherwise, the allure of the Zestimate could fade quickly and it becomes another hokey online tool.
Also for the ad business model to work, there's the issue of getting the consumer to stay on site. A one trick pony a business model don't make.
Right now, once I've looked up my target home, say my buddy Mark's in San Diego, I get my jollies sated and leave. I need something else compelling to click, read, etc.
While the company has done a great job of getting folks to the site (ave. 3-4 million unique visitors/month), what are they going to do to keep them there in the long run?
New content, services. Certainly. More recently, they've aded a financing tab and heat maps of cities around the U.S. to help with this.
I do wonder, though, about the ultimate opiate that will keep folks on-site .... listings?!?
You heard it here first. If Zillow were to somehow infiltrate the world of the Multiple Listing Service (MLS), I'd be first in line to put my meager savings down for a round three of financing.
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