| The dot-com boom has reached the real estate world. Finally. Just as the Web changed how consumers listened to music, dated, shared photos and (at least temporarily) ordered groceries, a crowd of new companies, including RealEstateABC.com and Zillow.com, hopes to change the way people purchase, research, gossip about and value real estate. |
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Zillow says its site is still in beta form, and the company expects most people eventually to turn to a real estate agent. Still, Zillow’s instant popularity illustrates that home shoppers want more comprehensive information faster and cheaper. RealEstateABC.com offers a similar way to view real estate property online. In certain circles, Zillow is even used as a verb, as in “Have you Zillowed your house yet?” “The zestimate is not the end all, be all answer to the question of how much your home is worth,” said Zillow Chief Financial Officer Spencer Rascoff. “But it’s a first step. It makes for a more educated buyer or seller, but more often than not, they’ll seek the advice of an agent.”
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