{"id":18596,"date":"2021-11-13T06:15:40","date_gmt":"2021-11-13T13:15:40","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18596"},"modified":"2021-11-13T06:15:40","modified_gmt":"2021-11-13T13:15:40","slug":"overnight-news-dunning-kruger-real-estate-when-you-dont-have-a-need-we-dont-have-a-clue","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18596\/overnight-news-dunning-kruger-real-estate-when-you-dont-have-a-need-we-dont-have-a-clue\/","title":{"rendered":"Overnight News: Dunning-Kruger Real Estate: \u201cWhen you don\u2019t have a need, we don\u2019t have a\u00a0clue!\u201d"},"content":{"rendered":"

\"Ya

\u201cYou have to learn to pace yourself. The dog park should be more than just a few minutes of\u00a0frenzy.\u201d<\/p><\/div>I am enduringly annoyed by the iBuyers. You may have noticed.<\/p>\n

The most significant factor in Zillow’s ignominious retreat from iBuying is that it was entirely a Dunning-Kruger exercise: Rich Barton and his devoted team of seven-figure eggheads actively and persistently refused<\/em> to learn anything about real estate brokerage.<\/p>\n

All of the iBuyers are lousy at real estate, as I’ve been pointing out for years, and none of them are interested in improving. But Barton’s explicit insistence was that Zillow would do best at real estate by not<\/em> listening to anyone who has ever sold real estate, not even the Realtor “partners” they used as their hands and feet in their first two years of iBuying.<\/p>\n

It’s awful that Rich Barton screwed up so badly \u2013 leaving damaged neighborhoods behind him nationwide. But it is much worse that he did it deliberately<\/em> \u2013 by refusing to learn any better \u2013 even as his errors racked up by the millions.<\/p>\n

If drunk driving is bad, then driving blind-folded is so much worse. Zillow CEO Rich Barton \u2013 very proudly! \u2013 drove blind-folded into America’s real estate market. He should be held to account for it.<\/p>\n

In other news:<\/em><\/strong><\/p>\n

Joel Kotkin:<\/strong> California Dreamin\u2019.<\/a><\/p>\n

Andrea Widburg:<\/strong> One fuzzy drone image may send Kyle Rittenhouse to prison.<\/a><\/p>\n

Andrea Widburg:<\/strong> The DOJ and FBI have combined to destroy Project Veritas.<\/a><\/p>\n

J.R. Dunn:<\/strong> The Left’s Bungled Revolution.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cYou have to learn to pace yourself. The dog park should be more than just a few minutes of\u00a0frenzy.\u201dI am enduringly annoyed by the iBuyers. You may have noticed. The most significant factor in Zillow’s ignominious retreat from iBuying is that it was entirely a Dunning-Kruger exercise: Rich Barton and his devoted team of seven-figure […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-18596","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":18028,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18028\/overnight-news-if-ibuyers-sell-slowly-and-weakly-in-an-impossibly-easy-market-how-much-worse-will-they-do-when-the-worm-turns\/","url_meta":{"origin":18596,"position":0},"title":"Overnight News: If iBuyers sell slowly and weakly in an impossibly-easy market, how much worse will they do when the worm\u00a0turns?","author":"Greg Swann","date":"April 7, 2021","format":false,"excerpt":"Real estate is kids and dogs, but real estate sales is entrepreneurs. I was interviewed yesterday on the future prospects of the big-name iBuyers, whose numbers are everyday augmented by many, many no-name iBuyers. I'm a bear, of course. When the market turns, the slow-selling pontificating poindexters will discover why\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17336\/the-ibuyers-are-super-good-at-mulcting-buyers-agents-with-science-thats-why-they-cant-price\/","url_meta":{"origin":18596,"position":1},"title":"The #iBuyers are super good at mulcting buyer\u2019s agents with science. That\u2019s why they\u00a0can\u2019t\u00a0price.","author":"Greg Swann","date":"October 20, 2020","format":false,"excerpt":"Mike DelPrete is worth reading, so long as you understand that, like The Inglorious Knob, he is one with The Borg. Just lately I mentioned that the iBuyers in Phoenix are nicking buyer's agents for commission \u2013 which is just the kind of dick move you expect from financially-inept sociopaths.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/aidan-bartos-v9rZ3Yz6fSg-unsplash-1-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16839,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16839\/the-money-making-secret-to-real-estate-socialize-the-risks-to-the-seller-the-ibuyers-are-just-now-catching-that-clue-ineptly-as-always\/","url_meta":{"origin":18596,"position":2},"title":"The money-making secret to real estate? Socialize the risks to the seller. The #iBuyers are just now catching that clue \u2013 ineptly, as\u00a0always.","author":"Greg Swann","date":"August 31, 2020","format":false,"excerpt":"This has been a slow-rolling epiphany on the part of the iBuyers. I've snarked about it here and there, but that's all, so far. I wrote a ton about iBuying last Summer, but by now it all seems quite a bit less urgent. There are a lot more of them\u2026","rel":"","context":"In "iBuyers"","block_context":{"text":"iBuyers","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ibuyers\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/tierra-mallorca-rgJ1J8SDEAY-unsplash-480x360.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17955,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17955\/overnight-news-big-budget-ibuyers-manage-to-suck-even-worse-even-in-the-easiest-real-estate-market-ever\/","url_meta":{"origin":18596,"position":3},"title":"Overnight News: Big-budget iBuyers manage to suck even worse \u2013 even in the easiest real estate market\u00a0ever.","author":"Greg Swann","date":"March 11, 2021","format":false,"excerpt":"There's iBuyer news today \u2013 half truth, half lies \u2013 but, as usual, the big news is missing: The big-budget iBuyers are by-now swarmed by many, many mini-iBuyers. Hardly anyone knows how to build a magnetic website, but lots and lots of people know how to flip houses. Here's more\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17511,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17511\/overnight-news-is-the-incumbent-is-now-the-real-estate-broker-elect-market-swing-threatens-overdue-shellacking-for-doe-eyed-ibuyers\/","url_meta":{"origin":18596,"position":4},"title":"Overnight News: Is \u201cThe Incumbent\u201d now the Real Estate Broker-Elect? Market swing threatens overdue shellacking for doe-eyed\u00a0iBuyers.","author":"Greg Swann","date":"November 22, 2020","format":false,"excerpt":"Seen any commercial TV lately? Have you spotted ads from local real estate vendors offering to make cash offers for homes \u2013 right now, on the spot, in any condition? \"That's not really iBuying!\" the iBuyers will shout \u2013 and it's true. It's flipping Homevestors.com-style \u2013 Ug's uglier offspring. What\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18259,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18259\/overnight-news-the-so-called-ibuyers-are-actually-eflippers-and-someday-soon-theyll-learn-what-its-like-to-work-in-real-estate\/","url_meta":{"origin":18596,"position":5},"title":"Overnight News: The so-called iBuyers are actually eFlippers \u2013 and someday soon they\u2019ll learn what it\u2019s like to work in real\u00a0estate.","author":"Greg Swann","date":"June 25, 2021","format":false,"excerpt":"The secret to flipping houses is suckering the seller. True fact. If you do rehab or upgrades, you may recoup about double your outlay. That's a profit margin, but not much of one. There are no more sucker-bait buyers, so you can't sell high. So the big bucks come from\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18596"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18596\/revisions"}],"predecessor-version":[{"id":18597,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18596\/revisions\/18597"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}