Technology changes & Zaio
Has anyone read about or been following Zaio? If you have a problem finding their website PM me and I will get you the link.
Their model is to create a database of every residential property in the US including photos and appraisals for each. Every year the appraisals will be updated. These are drive by appraisals.
As properties sell the data will be re-evaluated and properties that are outside of the expected range will have their appraisal updated.
Some wonder how you can check every property even if just from the street. Zaio's response is the trash is picked up every week from every address (more or less) so visiting all the property once a year is not that hard.
They are using what I will call a Dell model and charging appraisers and photographers a fee for exclusive territories. The appraiser gets a fee every time the appraisal in their market is used. Like buying into a franchise is one way to view it. Like Dell in that Zaio collects revenue before selling the appraisals.
What are your views? What other companies are applying technology in new ways that will likely change the RE marketplace?
John Corey