How does Zillow work? Well, in this video, we talk about some of the lesser-known inner-workings of Zillow.
How does Zillow work? The 4th Industrial Revolution
Believe it or not, the Fourth Industrial Revolution is upon us! This battlefield centered around big data. “Who’s data?” you may ask? Well, yours! And mine. And everyone around us.
If you pay attention to these large mergers, most of them are technology companies, specifically companies that somehow gain access to or help manage large amounts of data.
So how does Zillow work and fit into this bigger picture?
Well, imagine how valuable the data they’re collecting are.
- When you search for homes on their portal, you’re letting them know where you plan to move to
- You’re showing them where you currently live (when you look-up your Zestimate).
- You get they’re keeping tabs on when you’re browsing on your phone, tablet, and computer.
- Furthermore, you tell them exactly what your tastes are when you favorite, save, or request more info about homes.
But it doesn’t stop there!
Like many Americans, you may need to get a mortgage. So now, you’re giving them access to you contact information as well as intimate details about your finances so you can get a “free” loan estimate. Considering how many hundreds of thousands of dollars people spend on their homes, it seems like a pretty good tradeoff for them!
Now hold on!
You might be thinking. I don’t pay Zillow a dime. What’s the harm in that?
Well, think about it. How are they making money? Simple. By selling your information to third parties and accepting money from agents and loan officers to be a Premiere Agent or Lender (interesting how everyone seems to have a 5-star rating, isn’t it?).
They also own several companies to round-out their information-gathering agenda. Look it up. They don’t even hide it on their website.
If you’re interested in a far more accurate home value estimate than the infamous Zestimate, try our home estimate at the very top of our home page!