AlfonsoGomezBroker.com - Last week Zillow.com announced the acquisition of Trulia.com for $3.5 Billion in stock. When I first heard this announcement I was surprised but then it made sense. The fact of the matter is that in our capitalistic economy you can either beat your competitor or else you can buy them. Right or wrong, that's the way business is run now-a-days.
What does it mean to the consumer? In the world of super-giant stores and banks, this merger will be "just another day". I believe consumers will continue as usual. The online consumer will benefit the most from the acquisition because they will now have one place to find most homes for sale. One thing most home buyers and sellers need to know is that Zillow.com and Trulia.com are NOT REAL BROKERS OR AGENTS. They are a marketing company. They don't charge any money to the consumer but they do charge real estate professionals to provide them the online buyers and sellers leads.
What does it mean to real estate professionals? At this point there is no argument about it, beat them or join them... I pick the latter. Zillow.com will control the majority of online leads and there is no "beating" Zillow at their game. I believe it is now time to embrace the fact the Zillow.com is here to stay and if consumers like this site, well I better get to know and love this site too. Many agents will want to fight this notions but it's a losing battle.
Real estate professionals will learn to adapt and overcome or die...
For the full Zillow.com announcement click HERE
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