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Shares of Zillow have dropped nearly 20% since Thursday as investors feared that lower commission rates for agents could lead to less business for the real estate platform.
Even with the introduction of the internet, traditional media and methods of generating leads were still an important part of Real Estate trend: Though the internet was the most popular source, buyers also cited information from real-estate agents (85%), yard signs (62%), open houses (48%), and print or newspaper ads (47%).
Real estate agents often profit by absorbing a certain percentage of the final sale or rent price as commission. There are cases where commission percentage hits a figure of 6% in America. [7] Internet real estate reduces the cost of an agent and conserves time spent relaying amongst three parties.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 [4] by co-executive chairmen Rich Barton [5] and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current ...
Lew Sichelman has been covering real estate for more than 50 years. He is a regular contributor to numerous shelter magazines and housing and housing-finance industry publications. Readers can ...
Real estate names slid on the heels of the NAR's groundbreaking settlement, with investors expecting these rules to impact spending and competition for lead generation. Alongside Zillow's decline ...
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