What service did Zillow offer ? Estimating the worth of a house is always tricky. You can list prices of similar homes that have been sold in the neighborhood. Taking county records of sales and putting it with Google Maps is not difficult. I do not know how much it costs to update the records. Google, Yahoo and Microsoft have the financial heft to pursue such a venture.
From a layman’s perspective Brain surgery is hard for an average or smart person (who is not a brain surgeon) because it requires practice and a lot is at stake. Most brain surgeons are above average individuals. From a doctor’s perspective it is harder to diagnose illnesses than it is to perform surgery.
Putting all the houses on sale on a single database and making it query-able on the basis of neighborhood, zip code, asking range and other factors is feasible from the technical standpoint. Look no further than EBAY.
Let us break down real estate transactions. I find the whole deal with real estate loans like points, closing costs stupid. I hope the govt puts a ban on such features. When was the last time you had closing costs on a car loan ? If you qualify for a loan the bank ought to loan you the money. The bank can charge a higher interest rate to offset all the silly fees.
Houses on the beach in Southern California sell because of location. House in middle of Kansas is hard to move because of location. Real estate agents have nothing to do with value. I frankly think real estate agents are a product of over-ligitious society and over-reliance on our homes as financial assets. When Americans have to duke it out China, India and other Asian powers for their livelihoods look for real estate agents to get slaughtered as a profession.
What is the level of skill required for an average real estate agent ? Basic Mathematics, good communication skills, good business skills. A high school graduate can take the realty license exams and pass it. The hours are primarily 8-5. Any reason why realtors have to be highly compensated ??
