The Real Estate Dot Com Bubble?
from the timing-is-everything dept
Just as it’s become clear that the housing bubble of the last couple of years may finally be in decline, has anyone noticed a glut of real estate related dot coms? The latest to hit the scene is Zillow, which tries to accurately predict the value of your home. It seems like a fairly narrow area to focus on (and it’s a bit surprising to see them have 75 employees already). The article suggests that their business model is to sell ads, but it seems like they’d need to sell an awful lot of advertising to make this worthwhile — and seeing the reaction of some real estate agents in the article (who seem to think only they can accurately determine a home’s value), this may be an uphill battle. However, it seems like we’ve been hearing about an awful lot of real estate related dot coms lately — each targeting a different slice of a market that was booming last year. If someone came along and strung all these different offerings together, maybe there’d be a real business, instead of a collection of random (and sometimes interesting) features.