local real estate news, statistics, and commentary without the sales spin.
News broke late this afternoon that after 13 years as a “startup,” Redfin has finally filed their S-1 with the SEC, signalling their intent to make an initial public offering (IPO) later this year.
Let’s take this opportunity to directly compare some financial and usage data between Redfin and Zillow.
You’ve probably heard about the asinine legal threat that Zillow lawyers sent to the architecture criticism blog McMansion Hell (currently offline), a popular blog that provides entertaining and educational commentary and criticism of the scourge of the McMansion. If you’re in the dark, allow me to summarize the events of earlier this week, with some of my own speculation and opinion thrown in (indicated in italics below)…
Anyone who has read this site for any length of time knows that I am not exactly Zillow’s biggest fan (to put it lightly). However, I like to keep an open mind, and I don’t want Seattle Bubble to become an echo chamber.
Therefore, I’m happy to present a point-counterpoint on the topic of Zillow’s value in the real estate marketplace. Rather than participating myself, I’ve invited two long-time Seattle Bubble regulars and local real estate professionals to debate the subject for us all.
I was doing some light reading of the public transcripts from the Move vs. Zillow court hearings in King County Superior Court last week. This excerpt from pages 81-84 in the full Wednesday afternoon transcript was certainly entertaining…
Local alternative brokerage Surefield added another slick new tool to their arsenal this week: A map-based home pricing tool that they are calling Pricepoint. Together with their flagship 3D home tour technology (previously spotlighted here), this new offering strengthens Surefield’s focus on home sellers.
The tool offers an interactive, transparent alternative to Zillow’s black box “Zestimates,” and is touted by Surefield as “the most accurate and reliable way to price a home.”