Matt Goyer’s Real Estate Blog

FoREM has a post on how Zillow Plateaus While Trulia Grows:

According to Comscore, Trulia overtook Zillow in traffic for the first time last month (Dec. 07).

What I find more telling is Zillow and Trulia’s own thoughts on their traffic performance in 2007.

From Zillow’s 2007 - It’s a wrap:

Now, specific to Zillow, here are a few year-end fun facts. Zillow has grown significantly in the past year in terms of capital (an additional $30M raised bringing the total to $87M ), employees (from 135 people to 160), site traffic (up about 20% year-over-year), advertising salespeople, (from 5 to a team of 20; Advertising offerings (launch of Zillow Home Direct Ads), for sale listings (launched the ability to post homes for sale in early December ‘06, so a handful then vs 400K now), brokerage partnerships (zero vs dozens today), newspaper partnerships (over 280 newspapers now), Make Me Move listings (about zero then vs 100K now), etc.

From Trulia, New Year’s Resolutions for Online Real Estate and Trulia:

Today, Trulia.com is the fastest growing website in the real estate industry according to Comscore (at least amongst the top 20 sites). In December 2007 Trulia.com will have around 2.5million unique visitors, we have grown 3x in 12 months whereas many other sites have flat or declining in traffic. We consistently see double digit monthly growth and expect this to continue for the foreseeable future until we become one of the top few sites in the Industry.

Conclusion:

Trulia: 300% YOY
Zillow: 20% YOY

Dare Obasanjo, What is the Right PM<->Developer Ratio?

Having worked on one consumer facing product where we were 1:1 and now working on another where we’re about 1:4, I have the feeling that the sweet spot is around 1:2. I say this because right now it’s incredibly hard for PM to keep pace with dev and when I was on the 1:1 team I wrote way too many specs that we cut because we didn’t have enough resources.

Congrats to Trulia on raising $10 million led by Sequoia. The race is now on between Trulia and Zillow!

The Venture Beat article, Real estate engine Trulia shows momentum, raises $10M, on the announcement discusses the difference in inventory between Trulia and Zillow:

Trulia says it has two million homes for sale. Zillow, by comparison, has only 130,000

It’s an interesting comparison but I don’t know how relevant that comparison is for the majority of consumers.

For instance, Redfin doesn’t compete at the national level like either of those companies. However at the local level in the markets we serve, where consumers care the most about available inventory, we have both beat. Living and looking for a home in Seattle I could care less who has more inventory outside of Seattle I just care about who has all the inventory in Seattle.

• Morae: Website usability software
• Cookie-Based Counting Overstates Size of Web Site Audiences: Frequent Cookie Deletion by 3 out of 10 U.S. Internet Users Leads to Overstatements in Audience Sizes by a Factor as High as 2.5

I put my condo on Zillow as a ‘Make Me Move’, 124 Bellevue Ave E # 504, Seattle, WA and today they added page views. I’ve only had 3 people look at my place :(. Though one of those there e-mailed me about it (a Zillow employee none-the-less.)

HomeHugg appears to be like Digg but for listings:

HomeHugg is a community of Home Buyers, Realtors and Lenders that help each other discover, save and share their favorite homes for sale or rent in their community. The members of HomeHugg are able to add homes, comment on homes, map their favorites and share them with their family and friends.

100% of all HomeHugg listings are generated by the members of the community. We do not pull information from each MLS or pull listings off the Internet. Our mission is to uniquely simplify your home search by introducing you to the most popular homes available on the Internet.

Though without anyone Hugg’ing condos in Seattle then I’m not that interested.

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Wall Street Journal, How Good Are Zillow’s Estimates?

Zillow came within 5% of the price in a third of the transactions studied by The Journal. It was more than 25% off target on 11% of them. In 34 of the 1,000 transactions, Zillow was off by more than 50%.

We currently display Zillow estimates on Redfin listing details pages. If you’d like to see us add additional online valuation tools let me know which are your favorite Zillow competitors.

Last week was a frantic week as we raced to make our deadline. On Wednesday someone noticed this comment in Zillow’s page source; I’m sure it made us all smile:

<!– please don’t crash –>

Zillow’s Barton on whether they’re getting into the online brokerage space, Zillow Shows More of Its Cards:

Barton continually has to defend himself against fears that he will replace real estate agents the same way he replaced travel agents with his last big startup, Expedia. His reply: since the web ad model has now become viable, Zillow doesn’t have to get in the middle of any transactions. Rather, it is getting into the content business, offering trivia, listings, as well as a new real estate wiki project (also launching today) combining expert and visitor knowledge about all things real estate.

Scoble, Zillow has the nicest real estate in Web 2.0 industry:

Anyway, they have the nicest offices in the Web 2.0 world that I’ve seen so far. They are in the Wells Fargo building in downtown Seattle on the 46′th floor and have stunning views that wrap around all sides of the building.

They arranged each of their areas into “cul de sacs” around a window display.

I interviewed at Zillow at the beginning of the summer and they definitely have some sweet digs. Their view undoubtly beats ours :).