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#416551 - 12/05/12 11:58 PM Googles new investment in real estate site
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
www.homelight.com yet another lead generator... but this time google ventures is backing it. old "pay for a referral" business model.
_________________________
the real estate industry is changing...

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#416574 - 12/06/12 07:33 AM Re: Googles new investment in real estate site [Re: broker]
johnnyloans Offline
Veteran Member

Registered: 03/29/09
Posts: 870
Loc: Los Angeles ,CA
Not another one
_________________________
Johnny James
Real Estate Broker in CA
(702)204-1166
Greater Los Angeles Area
www.PalmdaleRealestate.biz
Have Car Will Travel
For Those That Google JohnnyJamesBroker@gmail.com

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#416938 - 12/15/12 09:20 AM Re: Googles new investment in real estate site [Re: broker]
Kate Jones Offline
Member

Registered: 07/15/12
Posts: 28
Loc: India
Hi,
This is a new information for me, I want to know more about it in detail.Please post more information for the readers.

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#416992 - 12/17/12 01:01 PM Re: Googles new investment in real estate site [Re: broker]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2364
Loc: Outer Banks
I guess they haven't heard that these sites don't make any money.

http://www.bloodhoundrealty.com/BloodhoundBlog/?p=16252
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#416993 - 12/17/12 01:55 PM Re: Googles new investment in real estate site [Re: broker]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
Both Trulia and Zillow are making tens of millions of dollars per year. They have gone public and have tens of millions more to invest. They are making money but are not profitable because of the business model they are pursuing. They can easily flip a switch and go out and buy/start agencies and ramp up revenue. Most of their money comes from the mortgage lead side now but they may alter their model as times change.

This HomeLight is different and is trying to pull consumers in via a method of ranking agents and then selling referrals. There is also a company called NeighborCity trying to do the same thing and they have a lawsuit for mls data access. The Google aspect is what gets HomeLight attention.

Back to my continuing argument about paying for referrals and the abuse thereof. Tell these folks (and all brokers) you will pay $10 for a lead and $100 for a referral and they can not survive because all they do is skim. Capturing and passing along a name should not warrant a referral fee - no matter who you are. This argument will gain steam over the coming months/years especially if NeighborCity wins their case. It is likely though that brokers may selectively try and blacklist these sites which won't work from a DOJ standpoint.
_________________________
the real estate industry is changing...

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#416995 - 12/17/12 02:18 PM Re: Googles new investment in real estate site [Re: broker]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
Originally Posted By: broker
". . . They are making money but are not profitable . . ."

Gosh, that sounds like quite a contradiction.

Do you mean that while they might be generating revenues; their operating expenses still exceed their income ?

That's still losing money.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#416997 - 12/17/12 02:46 PM Re: Googles new investment in real estate site [Re: broker]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
yes.. of course. you can make money but still not be profitable - and pursue a business... especially if you are a public company sitting on hundreds of millions of cash from an IPO. That's the way our great economic system works here in the US - you can lose money and people will buy your stock. Cash flow and potential. Heck, you can loose tens if not hundreds of millions a year and raise 100 billion or so like Facebook.
_________________________
the real estate industry is changing...

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#417001 - 12/17/12 03:24 PM Re: Googles new investment in real estate site [Re: broker]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
When I was in Business School, that would have been called Operating at a Loss; generating a Negative Return on your Investment . . . . or simply, Losing Money.

Regardless of whatever euphemism you want to employ, it's NOT "making money". "Making money" is when, after all is said and done, you have more money than what you started with . . . . hence you MADE some money, not just spent it.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#417004 - 12/17/12 04:02 PM Re: Googles new investment in real estate site [Re: broker]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
To many people generating revenue = making money. To say that Zillow and Trulia are not "making money" is incorrect. They are making millions. Making money and turning a profit are two different things. Semantics.

But please don't get distracted from the bigger picture - Google investing in a company in the real estate space.
_________________________
the real estate industry is changing...

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#417005 - 12/17/12 04:06 PM Re: Googles new investment in real estate site [Re: broker]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
I was just attempting to understand what you're trying to say.

Raising capital in an IPO is hardly the same thing as manufacturing a product or marketing a service in order to generate income; but that money sure is easier to squander.

You only get one chance at an IPO; it's not a part of the on-going business model. Plus, the proceeds from an initial offering appear on the Balance Sheet; not the Operating Statement.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#417010 - 12/17/12 04:58 PM Re: Googles new investment in real estate site [Re: broker]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2364
Loc: Outer Banks
Originally Posted By: broker
They are making millions.



But not enough to keep the investors on the hook for much longer. The pot of gold never materialized and the investors are now just learning the truth, which is why zillow is being sued by it's investors for for being misled about their profitability.

http://www.msnbc.msn.com/id/50056512/ns/...n/#.UM9N4qPBKVM

So now the fear of the fear mongers is these companies will buy up brokerages and take over the market. Let them find out what is really involved with selling homes. They believe, like most of the public, that no work is needed to sell houses.

I say, good luck to them and I welcome the challenge. They don't have a clue.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#417014 - 12/17/12 06:30 PM Re: Googles new investment in real estate site [Re: broker]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
Real estate is a BIG industry. 2nd biggest industry in the world. Every day a little more control is lost by the status quo brokerage model. Change will happen and agents will adapt or leave the business. Right now these big players are not concerned with brokerage - except maybe referrals... as is Google with this investment. Easy money for little or no work.
_________________________
the real estate industry is changing...

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#419247 - 01/29/13 08:28 AM Re: Googles new investment in real estate site [Re: broker]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
It is shocking to me the market caps that Trulia and Zillow have for their earnings. Even for a tech startup, and I wouldn't even consider them startups anymore, that's just baffling.

They need to find a way to increase revenue badly, and I think honestly the answer for them is to become a brokerage with agents. I guess we'll see. I'm thankful they don't exist in Canada, yet.

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#419420 - 01/31/13 07:15 PM Re: Googles new investment in real estate site [Re: broker]
Musa Opondo Offline
Member

Registered: 09/24/12
Posts: 210
Loc: USA
Seems like Google wants to dominate every industry!

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#419524 - 02/02/13 04:20 AM Re: Googles new investment in real estate site [Re: broker]
BronxPad Offline
Junior Member

Registered: 07/02/12
Posts: 5
Loc: Bronx New York
This is very interesting. Like Politics, Real Estate is a local thing. Yeah, Trulia, ZIllow, Realtor and Homes receive a lot of traffic because of there rankings in the search engines and now Real Estate.com is trying to improve there rankings, but how do these other sites get there traffic. I heard of another site like Movoto trying to do the referral business model.

At the end of the day i use social media and guerilla marketing for my business model. [url=http://www.bronxpad.com]Bronx Real Estate[/url] Bronx Real Estate


Edited by BronxPad (02/02/13 04:23 AM)

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