Accuracy Matters as REALTORS Consider the Impacts of Zillow+Trulia

The merger announced today between Zillow and Trulia led to endless conversations between and among REALTORS all over the United States. What will be the ultimate effect of this merger on organized real estate?

Even months before this merger was announced, many REALTORS expressed concerns that the data published by third-party aggregators such as Zillow and Trulia is not completely accurate. This makes the working REALTOR's job that much more difficult as they represent their client's interests in obtaining the best price for their purchase or sale of real estate.

In fact, technology already has had a significant impact on REALTORS and real estate in the past few years. In the end, consumers and potential home buyers and sellers still want the care and consideration of an actual human being - a REALTOR - who walks them through the process, the paperwork, the disclosures, the process of moving, heck even the therapy of going through a home sale.

The 2014 President of the South Bay Association of REALTORS, Tamara Suminski, told the Los Angeles Times today that "there's a limit to the consumer empowerment that such sites can provide."

Tamara's comments on Zillow+Trulia continue:

"Zillow's algorithms can't help a buyer understand more complex issues that affect value, such as the discount that they should expect for a home being in a seismic hazard zone. And buyers still need agents to help them navigate the mountains of legal paperwork that go with every deal."

Ultimately, buying and selling a home is about more than just numbers.

"But the need for a Realtor I don't think will ever go away."

Manhattan Beach ready to ban real estate storefront offices while it studies the matter

ALERT! We have reported a few times about the proposal in Manhattan Beach to ban banks and real estate offices from retail storefronts in the downtown Manhattan Beach business district. This unfortunate proposal lurches another step further as the City Council on July 15 considers a temporary ban while they retain a consultant to study the issue further.

What exactly is at stake? Specifically, the July 15 ban is on conversions from retail space to office space. It does not ban a new retail store going into an existing retail space or a new office going into an existing office space.

In fact, the City does not actually ban real estate transactions. However, real estate professionals will tell you that without the ability to get permits from the City, no transaction will happen anyway.

While we understand and are concerned about the economy's impacts on retail, targeting offices is not the answer. SBAOR remains opposed to this move and suggests that banning any kind of land use in downtown Manhattan Beach will not save the lucky ones left over who are still allowed to open up shop downtown.

Carson City Council asked to support changing Prop 13

ALERT! The Carson City Council on July 15, 2014 will consider supporting a significant change to the landmark Proposition 13, which is protected your property tax rates for several decades.

Property tax rates can only be changed in Sacramento. So why are city councils and school districts all over the state being asked to support such a radical change to our laws?

The proposal before the Carson City Council asks for support of so-called split roll taxation, which considers residential and commercial real estate differently. Sounds great so far, right? After all, sometimes large commercial buildings are not "sold" but are transferred by way of a stock transfer or other means, so no tax assessment is triggered.

What is not discussed, however, is the number of jobs and local businesses supported in those same commercial buildings. A combination of tax hikes and even the uncertainty of potential tax hikes could have devastating consequences. At greatest risk are the local folks who are living in those same residences protected by Prop 13 and whose jobs could be crunched by their commercial spaces facing higher and higher costs.

Too little is understood about the impact of split roll. Tell Carson City Council to Just Say No and save the local community from a little-known fate.