Zillow Chief Economist Stan Humphries appeared on Real Estate Radio Boston on March 7th to discuss his new book, “Zillow Talk: The New Rules of Real Estate”, which he co-authored with Zillow CEO Spencer Rascoff. Humphries also talked about the continued importance of REALTORS® in the Internet age saying, “I think agents will always have a place in this business.”
The economist says Zillow was designed to be a tool for consumers but was not intended to replace expertise provided by an industry professional. He points out that consumers typically purchase a new home every 7-10 years, and that transaction can be complex and confusing.
It’s probably the most expensive transaction they (buyers) are ever going to make. It can be very idiosyncratic. There’s a lot that can go sideways in a transaction. That’s a perfect example of the type of transaction that is typically going to be mediated. People who sell their house by themselves have really never been greater than 15 percent, says Humphries.
To listen to or watch the episode of Real Estate Radio Boston featuring Stan Humphries you can download the podcast by visiting realestateradiobostonshow.com.