A process by which a product or service takes rootinitially in simple applications at the bottom of a marketand then relentlessly moves ‘up market’, eventuallydisplacing established competitors.An innovation that is disruptive allows a whole newpopulation of consumers access to a product or service.
• Mobile – Disrupts traditional websites• Now more minutes are spent searching the web on apps than browsers Google Android – 150,000 apps – 2 Billion downloads Apple – 425,000 apps – 15 Billion downloads• 1/2 of all searches will be via mobile devices within a year
Disruptive Innovation Uber app-town cars, taxi Assn tried to stop it, 10 seconds fordriver to accept, passenger rates driver & driver rates passenger, $10 fee if passenger is a no show
• Top 1, 2 or 3 sites according to Hitwise and ComScore in almost every market in the US except Houston• Ratings of agents o Over 70,000 agent reviews by consumers• Source for housing articles in Wall Street Journal and USA Today• Achieved $1 Billion market cap• 1/2 of agent leads may not be responded to• Zillow gives consumers what they want• Zillow is Innovative
Internet Information provider that we call “Desired Monopolies.”Well, your average realtor (we interviewed several as part of ourresearch for this report) doesn’t quite “hate” Zillow, but therealtor-Zillow relationship is complicated. Realtors generallyadmire Zillow’s web site and its ability to efficiently (andprettily) provide a wealth of real estate information.However, realtors loath Zillow’s price estimates, invariablydescribing them as wrong and bemoaning the friction theycause when prospective clients cite them, only to have therealtor "set them straight" with local knowledge Zillow nevercatches. But the biggest thing realtors hate about Zillow is that ... they don’t own it.
We can’t resist Zillow’s free, voyeuristic window into our neighbors’homes, what they paid for them, and what they’re worth now. Zillow’s officialbusiness model calls for signing up more subscribing real estateagents, facilitating more mortgage originations, and selling more of its highlytargeted advertising.Overlaid graphically data on the classic Zillow aerial presentation :Crime statisticsHealth statisticsImmunization rates at schoolsSewage treatment plants overlaid with arrows representing the predominantwind directionIf Facebook charts our social graph, then Zillow clearly has the lead incharting our environmental graph. And as a Desired Monopoly, Zillow can bethe trusted middleman, aggregating nice-to-have information into a must-have whole.
By only pursuing “sustaining innovations”that perpetuate what has historically helpedthem succeed, companies unwittingly openthe door to “disruptive innovations”.
Providing Consumers What They Want Sold Prices & Dates Listing History(Price Reductions) Days on Market Nearby Homes for Sale Nearby Homes Sold Price Estimates & Trends Contact a Buyer’s Agent Post Homes for Sale Compilation of Features from Above Websites