News today from both Om and TechCrunch that US real estate site Zillow has finally developed an innovation that I've been waiting for a while to see make its way to the English-speaking world - passive property sales.
Zillow's new "make me move" facility let's homeowners not exactly put
their house up for sale but give potential buyers a nod and a wink
that, you know, it might be for sale at the right price.
Combined with the "claim your house" feature added two months ago, and
already attracting 250,000 claims, Zillow's approach to opening up the
US passive real estate market most closely mirrors Finland's Igglo.
Of course, Igglo simply catalogued every house in Helsinki and then
launched its database onto the market, a more comprehensive approach to
the problem - but then, Helsinki has a population of 564,643, a different problem altogether to the US 300 million.
I've noted before
how impressed I am at Igglo's articulation as business strategy the old
adage that everything is for sale at the right price. Along with Zebo,
it is this sort of redrawing of the online sales map to include
everything, even things that might not be ostensibly on the table, that
will take online classifieds to the next level. Much as - to return to yesterday's theme
- LinkedIn has the opportunity to leverage its rich employment data to
redefine the jobs market to annihilate the distinction between
employees (and indeed jobs) that are available and those that are not,
Zillow has a chance to redefine the property market to reflect the
reality that everything is, however tacitly, actually in play if you're able to name the right price.
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