Sites like Zillow serve for window shopping
A "For Sale" sign marks a home on the market in Coeur d'Alene on Thursday, March 8.
It’s hard to escape the pervasive nature of real estate sites such as Zillow and Redfin. If you search for home or renting options, they’re consistently among the top search terms you’ll find.
These "fintech" businesses use financial technology and apply real estate elements for accessibility.
However, with 21 years in the real estate business at CENTURY 21, Walt Wardek said that these fintech sites are often best served as a vision board.
“Zillow has been out for a long time, and Redfin, too,” Wardek said.
He recommended using them “cautiously and for statistics” to window shop properties and dial in on home assets you're looking for.
Fintech site allow users platforms to discover design ideas and view properties, compare properties and research different neighborhoods.
If you’re selling, these platforms reach a larger targeted audience.
Renters also can utilize Fintech sites for apartments or houses to lease.
If you’re using a Fintech site as the beginning and end of your real estate journey, Wardek cautioned that you may encounter some road bumps trying to find the home of your dreams.
“Zillow is not accurate. On Zillow, you might look at a house and not realize it was sold 6 months,” Wardek said.
Idaho is a non-disclosure state and so listings on Zillow are not updated when homes go to closed status.
Wardek said that he hasn’t seen any major impacts in the real estate market locally, because of Zillow and other sites, but that's likely because the “one stop shopping” approach can’t encapsulate elements that person-powered provide.
“Redfin makes the market a little more competitive when you’re dealing with discount service, but you’re not getting all of the services,” Wardek said.
