Zillow CEO: startups trying to disrupt real estate commissions will fail (2012)

Re:Zillow CEO: startups trying to disrupt real estate commis... by Spooky23 on Wednesday January 16, 2019 @04:30PM (#18925501)

> However, I think realtors have a demographic tidal wave about to hit them, consisting of first-time young home buyers and some slightly older home sellers who are used to doing things online and want nothing to do with realtor-mediated transactions ... or will scoff at the ridiculously high fees charged by brokers.

No way. Find me the mythical millennial who wants to deal with a first-party negotiation.

In some fantasy land where you ride your unicorn to work and shop for pre-fabricated houses on Amazon.com, sure. The reality is that your bank demands due diligence, houses are always in some state of disrepair, and nobody wants to deal with that.

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Re:Zillow CEO: startups trying to disrupt real estate commis... by ilamont on Wednesday January 16, 2019 @04:58PM (#18925858)

I get the due diligence part, which is where lawyers and inspectors come in. Not convinced realtors have to be the middleman facilitating those necessary transactions, let alone showing a home, making sure offers get to the seller, generating a list of comps from a database, etc., and charging huge fees to do it.

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Re:Zillow CEO: startups trying to disrupt real estate commis... by secabeen on Wednesday January 16, 2019 @06:11PM (#18926512)

The buyer doesn't see the cost, although 3% goes to the buyer's agent, it all comes out of the seller's proceeds. As such, there's a lot less incentive for a buyer to go without an agent.

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