Elm Street Technology scoops up real estate tech provider Consolidated Knowledge Thu, 25 May 2017 15:03:28 Elm Street Technology (EST) has another acquisition to add to its list -- residential real estate industry technology platform Consolidated Knowledge. Elm Street says the purchase is part of an "ongoing effort" to consolidate the real estate industry's leading technology and marketing providers ... read more»
Would charging fees for Instant Offers make Zillow a broker? Thu, 25 May 2017 13:58:26 For years, Zillow has promised not to become a real estate broker, and the company says that it still has no plans to do so -- Instant Offers doesn't represent buyers or sellers, nor does Zillow hold active broker licenses in Nevada or Florida. But one big question that remains is whether Zillow would need broker's licenses to operate its Instant Offers program legally if it were to begin accepting compensation. ... read more»
Reali, mobile app-based brokerage, nabs $5M Thu, 25 May 2017 13:33:16 A real estate brokerage that uses a mobile app, beacons and low fees to service homebuyers and sellers has closed a $5 million Series A funding round. Palo Alto, California-based Reali will use the cash to expand to all markets around the San Francisco Bay Area, including San Francisco, Oakland and San Jose, and continue to build out its technology and brand.
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Your first-time sellers might be surprised by $15K in hidden costs Thu, 25 May 2017 11:28:32 In its latest study, Zillow turned the spotlight onto sellers and found that homeowners spend, on average, $15,190 in extra or hidden costs to sell their home -- a reality that may blindside the 63 percent of today's sellers who are putting their home on the market for the first time ... read more»
$10M listing or bust: Breaking into luxury real estate without being rich Thu, 25 May 2017 11:00:26 Both in their early 30s, the Vichinsky brothers have tapped into the art of understanding and attracting luxury real estate consumers with a multifaceted approach -- a combination of creative marketing, savvy business and relationship-building -- that led the firm to $400 million in sales volume last year and the ability to ignore anything under that $10 million mark ... read more»
Why you should work with buyers, sellers and renters Thu, 25 May 2017 1:00:19 Consider the many advantages of representing buyers, sellers and renters. It can increase your referral network, give credence to your industry expertise and offer industry insights you might not otherwise know ... read more»
NAR politics, Instant Offers and a noisy week in real estate Wed, 24 May 2017 14:59:36 NAR’s midyear meetings took place in Washington, D.C., last week. I was just finishing up a recap when two other big stories dropped. Credit unions are buying brokerages and bundling services -- and that other story you may have heard about: Zillow isn't a broker but its toes are deeper in the transaction ... read more»
CBO Greg Schwartz on Zillow Instant Offers: ‘We come in peace’ Wed, 24 May 2017 13:03:31 Some on social media are speculating that this product is anti-agent. That’s simply not true. Our bacon and eggs come from serving the industry: 70 percent of our revenue is from working with more than 80,000 agents, teams and brokers who advertise with Zillow Group ... read more»
Zestimate legal challenge seeks class-action status Wed, 24 May 2017 7:38:32 A family of homebuilders is suing Zillow Group over the Zestimate. The suit, which is seeking class-action status, alleges that Zestimates are illegal appraisals and violate consumer protection laws ... read more»
Zillow Prize will award $1M to the person or team who most improves Zestimate Wed, 24 May 2017 7:18:58 In 2009, Netflix gave $1 million to BellKor's Pragmatic Chaos technology team for building a better movie rating prediction algorithm (to the tune of 10.06 percent) than the one Netflix had been using. It appears that 2017 is the year Zillow follows in the media platform's footsteps ... read more»
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