Joel Burslem of 1000 Watt makes a very important distinction between intent and result.
Original Zillow thinking:
“REALTORS® currently sit at the middle of transaction. I think in the future they will sit more on the outside, offering specific services… People want REALTORS®, but is it rational to pay REALTORS® what they are paid? They are overpaid because customers are doing more of the work themselves. What kind of value are REALTORS® adding?”
Rich Barton, CEO Zillow- New York Times 2/9/06 – CNNMoney.com 2/8/06