I watch this Bloomberg TV interview with Barbara Corcoran every night before brushing my teeth.
Here's what she says:
1. Zillow buying Trulia is a game-changer, controlling more eyeballs online than anyone else.
2. 'Zulia' can charge what they want for advertising, but they still need brokers to go into people's homes and get those listings.
3. Travel agency isn't an accurate parallel with real estate agency, so agents aren't going anywhere.
4. Real estate broker pricing isn't going to change. It'll still be 4-6% (in the US).
5. For Sale By Owner (FSBO) isn't going to change anything - (most) people just don't have the time to market their own homes.
6. Brokers today can always offer more, but the one who gets an 'exclusive' on a listing can now market it to the whole world.
7. Brokers still need to advertise, and Trulia and Zillow are Board Walk and Park Place. And no-one wants to be on Atlantic Avenue (sorry Move.com).
8. No site is close to Zulia. Redfin tiny, and every other broker website is even tinier.
9. Market changed 10 years ago, when NYTimes Real Estate classifieds were decimated.
10. Prices for homes are going to keep appreciating; going to go through the roof.
11. She's investing in the outskirts of NYC, specifically near Columbia University. She follows the 'action' from gay waiters...
12. Stick with what you know; you always lose your shirt when you go to someone else's ballpark.
13. Low interest rates are fuelling this market more than people give it credit for...
Watch the interview yourself: http://www.bloomberg.com/video/will-zillow-trulia-merger-hurt-real-estate-brokers-TgCbsaTQQWCRdDSAMRUtPw.html