Update November 2nd, 7:15PM ET: Added information about Zillow ending its Offers program. Itll then deal with any repairs or quick renovations and then sell the house itself. Should You List a Rental on Facebook Marketplace? A flat fee MLS listing service will list your home on the MLS at a flat rate. Bridge Interactive is just for real estate professionals and brokers, offering software and technology solutions for data management. Zestimates of off-the-market homes have a higher error rate, at around 7.5%. It depends on what type of "leads" you are You can also stay updated on trends and research in the real estate and housing market through Zillow's research tab. WebRecommended. We just listed our beach house on the Jersey Shore two days ago. House appraisers also do not look at the Zillow value of your home either! Finally, you will have access to priority support from Zillow. Before your listing will go live, wait up to 72 hours for the verification process. The Multiple Listing Service (MLS) is an online regional database of homes for sale. Highlights. 37.17% of Zillow.com traffic is from a search engine. The only way to correct this was to contact Zillow customer service online. 51.0% of Zillows workforce is male, while leadership and management positions are 63.0% male. The sales comparison approach is an appraisal method that compares real estate to other properties with similar characteristics. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); 2012-2023 On Secret Hunt - All Rights Reserved ", Zillow. Zillow covers 90% of the USA housing market and sellers can browse homes across almost the entire country. The verification badge helps the tenant identify which listings are from a credible source, bringing increased exposure and lead volume. These listings can also automatically syndicate to Zillow, Trulia and Hotpads. Trulia also provides a visual breakdown of the monthly costs for the property, including mortgage payment, property taxes, home insurance, any association fees, and mortgage insurance. Agent/Investor. Read on for more information. Zillow is moving out of the home-selling business, housing prices exploded across the country, could also be motivated by excess inventory, the argument that finances are a meme now, Meta backs new tool for removing sexual images of minors posted online, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! $29 for each application and tenant screening report, paid by the applicant. Some readers may be surprised that Zillow buys and sells houses, rather than just acting as a place for real estate agents to post listings I was too when I first heard about it, but the company has actually been doing this for years through its Zillow Offers program. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. A report from Vox cites research that investors only made up about 20 percent of the home-buying market in 2020, and Zillow says that it and its competitors made up around 1 percent of the housing market in Q2 2021. Zillow already captures a good chunk of that market; it brought in $1.3 billion in revenue from online advertising in 2019. Bloomberg, however, speculated that it could also be motivated by excess inventory and reported that Zillow seemed to sell a good number of houses at a loss instead of a profit. Save my name, email, and website in this browser for the next time I comment. ForSaleByOwner.com, 4. Houses listed on Zillows website come directly from the multiple listing service (MLS), a database where local realtors advertise the properties theyre selling. Zillow offers Zestimatesestimated market value for an individual propertyand lists properties in both the U.S. and Canada. Once a listing is submitted to Zillow, it will appear on Trulia within about 24 hours. 1. Perhaps its just another data point for the argument that finances are a meme now and that betting big doesnt mean youre going to get what youre hoping for. 9.2 million leases are executed yearly, while 6.9 million homes are sold. You read it right. Zillow is one of the best places to advertise FSBO (for sale by owner) properties, but the companys decision to hide FSBO listings will offer minimal or no visibility for your property. If you list your property through these other software products, your Zillow listing will receive a verification badge. Redfin sellers usually still pay a 3% commission to the buyers agent. There is no way to call Zillow for customer service. Debt Service Coverage Ratio: DSCR Calculator. Yes, Zillow supports a wide variety of alerts. Zillow. Listing FSBO on Zillow will only reap benefits if you are prepared about the home sale and ready to tackle the listing agents wholl spam you to get your home listed on your behalf. For a reasonable flat fee Marble fills vacancies, executes leases, coordinates maintenance, and facilitates electronic rent collection. The Zillow app has been downloaded over 10 million times on GooglePlay. Zillow doesnt know you have a $20,000 structural crack in your foundation that needs repair. Thats a substantial savings over selling with a traditional brokerage. In general, homes are worth less during a buyers market than during a sellers market, and Zillow may adjust the value accordingly. Harry Hog, Sals cousin, is a real estate agent in Manhattan, the famous part of New York City with the big buildings. The company now operates in most U.S. states and advertises that it has helped consumers save $300 million. Zillow operates as a real estate search engine that lists more than 110 million homes across the United States. 15% of buyers with a mortgage use an online financer like Zillow Home Loans. The more home sales there are in your area, the more data Zillow has about how much buyers think those homes are worth. The site pools crime data for neighborhoods from both local law enforcement and news reports, allowing users to determine safety in the community. Cash Buyers:Check out Americas best We Buy Houses for Cash Companies. That's substantially higher than competing iBuyers' fees for example, Opendoor fees range from 510%. "Zillow Announces Acquisition of Trulia for $3.5 Billion in Stock. When you save a home, you will receive email updates on the status changes, price adjustments, or when an open house is scheduled for the home. You enjoy immense control over how you portray your house, how you deal with buyers agents, and which offers you accept. Houzeo is the most advanced FSBO platform bringing tools to users that only real estate agents can access! Do people just peruse the What is a favorite? The real estate listings that New York Times reporter Taylor Lorenz has saved on her phone right now, including a 3,600-square-foot A-frame and a glass house surrounded by trees. lending Our comprehensive rental property software overview listsa variety of other top rental listing sites that offer many of the same services as Zillow Rental Manager, and more. In this case, the Zillow In some ways, those numbers are both terrifying and reassuring a fifth of the housing market is a massive and influential chunk, but it also means that it likely wasnt a private equity firm (or Zillow) that outbid you on your dream home. Both sites are real estate databases that provide for-sale and rental listings to the general public and connect people with real estate agents, and they share some key characteristics. Many MLSs are part of the Zillow Partnership Platform (ZPP), which was created by a direct relationship between Zillow and the originators (brokers) or keepers (MLSs) of the listing information. Your thoughts on listing on Zillow (by owner) before listing in MLS.. Zillow launches Zillow Digs - or should that be Dogs? 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Although Zillow and Trulia have the same corporate owner, there is some difference in the interface for both websites. Some landlords consider it the best rental listing site for those reasons, though there are several alternatives to Zillow with their own unique offerings that garner the attention of both landlords and tenants alike. The i in iBuyer means instant because most iBuyers make an offer on your home in 2448 hours. Data from the Builder Inform tool indicates that when shoppers favorite a home, that little heart can impact how fast the home sells and for how much. The houses look like crap from the exterior but inside hundreds of thousands of interior design, super huge televisions and so much more. Trulia is another popular real estate website. Saves are better than views since there are always a ton of window shoppers. WebZillow has a white paper that correlates view and save counts to sale duration and percent asking price. Why You Shouldnt List a Rental on Zillow, Advertise Property For Rent: Landlord Gurus Ultimate Guide, Best Free Online Ways To Advertise Property For Rent, The Best Free Property Management Software for Small Landlords in 2020, Residential Lease Agreements: Best Software for Small Landlords, Dealing With Unsanitary Living Conditions: Video Extra, Everything Property Owners Should Know About Security Deposits, Reporting and Accounting Tools: Best Accounting Software for Landlords, Mildew and Mold in Rental Properties: Video Extra, Property Management Software vs QuickBooks for Rental Property Accounting, If you do not wish to upgrade to a premium listing, simply post your listing without clicking the upgrade option and you will not be charged anything. Zillow Group is the parent to companies and various business segments, such as Zillow Homes and Zillow Research, and acquisitions are now operating under the Zillow brand. How Accurate Are Redfin and Zillow Home Value Estimates? Zillow vs iBuyers | Zillow vs Flat Fee MLS Companies | Zillow vs Houzeo. The Owner Dashboard is a personalized view of your home and shows you stats like how many people are viewing your listing, gives you easy access to edit your home information, and more. Trulia, once Zillows greatest rival, is now a Zillow brand with 21.66 million unique visitors each month. As a result, landlords dedicate resources and time to respond to these leads, but they often dont lead to any real contact, let alone a showing or application. The website emphasizes that Zestimates are only a starting point to determine the value of a home and shouldn't be taken as an official appraisal. Derek Tye. 1,970 . These are free for the landlord. Massachusetts Real Estate Exposure is owned and operated by RE/MAX Realtor Bill Gassett, who covers the Metrowest Massachusetts area and beyond including Ashland, Bellingham, Blackstone, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Worcester, Upton and Uxbridge MA. homebuying In total, Zillow Offers fees usually ranged from 922% of your home's purchase price. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. If that is still the case, landlords still must pay the complete $29.99 fee and are not refunded, full or partial, if they fill their rental early. To provide the best experiences, we use technologies like cookies to store and/or access device information. $549,900. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Zillow Group, Inc.s annual revenue was $8.15 billion for 2021. Since these figures are from Zillow, both figures should be taken with a grain of salt. buying a house I just went under contract on a house that has been on zillow for a month and has over 300 saves (over 10,000 views). All Rights Reserved. You can learn more about the standards we follow in producing accurate, unbiased content in our, What to Do About Inaccurate Redfin and Zillow Home Value Estimates, Why Zillow Is Free and How It Makes Money, Home Appraisals: Your Key to a Successful Refinance. I have to desire to buy anything. However, the new Zillow Rental Manager costs for each listing might lead landlords to look at other top rental listing sites for their listing and advertising services. Maximum Real Estate exposure is a marketing site designed to give Massachusetts home sellers a dominant online presence. Saves mean nothing. I've saved THOUSANDS of houses I never intended to buy FWIW. , Fill Out the Home Description & Features Sections. Both Zillow and Trulia share the same corporate owner after Zillow acquired Trulia in 2015. With all their data and resources, they are likely ripping you off! Selling to an iBuyer lets you skip the hassle and uncertainty of listing with a real estate agent and negotiating deals. This makes Zestimates more accurate. On the left side, you'll see a map of all available properties in your search area that fit the criteria selected. Users view 157 homes per second on Zillow mobile apps. Nearly 64% of the buyers are on Zillows search engine sites (Trulia, Hotpads, RealEstate, etc.) Up to 87% of buyers still want to work with an agent. Unlike iBuyers, We buy homes for cash companies help you sell your house as-is fast. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Active listings will show a Time on Zillow counter, as well as the number of Views and Saves for a property. According to its website, Zillow is "the leading real estate and rental marketplace" for consumers, connecting them to the information and real estate professionals they need to buy, sell, or rent a home. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Zillow has been a leading real estate platform if not the best rental listing site in the US for some time. The Morgan Stanley report is based on a survey of 211 real-estate brokers and agents, located across five large metropolitan areas: New York, Los Angeles, Chicago, Miami and Dallas. Zillow is the largest real estate marketplace in the United States and has more than 40 million unique users every month. Most real estate companies, brokers, and agents are self-reporting lead conversion rates of 3-5%, but when the industry-wide numbers are looked at a little more closely the rate is closer to 0.5-1%. Comparables are used in a valuation technique in which a recently sold asset is used to determine the value of a similar asset. Zillow/Shaprio & Sher Group. In some cases, these competitors may offer additional features that are not available on Zillow or Trulia. With over a hundred million monthly online visitors, and a great number of real estate professionals and tools they can offer, listing your home on Zillow can be a good start. landlords However, there have been some negative reviews and complaints of poor customer service at Zillow. A For Sale By Owner (FSBO) website refers to a method of listing a property for sale. With a Flat-Fee MLS entry-only listing, you are essentially your own agent. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Zillow now offers a similar service for landlords and I have been asked about the difference between us. The result would be handling each aspect of property management using one of your favored products individually sort of the best of all worlds. How to Sell a House by Owner: Heres All You NEED to Know. Zillow claims a database of more than 110 million homes in the US, including those for sale, rent, and homes not currently on the market. Zillow Rental Manager also offers a few property management resources for landlords. Zillow has an exceptional number of 160 million monthly visitors on its platform. real estate An iBuyer isa company that buys homes almost instantly by relying ontechnologyto determine a market-basedcash offer. investing Houzeo allows you to list on the MLS, and with a competitive buyer agent commission, you can sell your home at a top-dollar rate. Officially, Redfin says it provides home value estimates for over 92 million homes, although its weekly updated data indicates its closer to 97.6 million only about 1.3 million are active listings. Lets see how theyre doing it. Your email address will not be published. These homes can be viewed in the Saved Homes section of your profile. If you fill your rental or wish to remove your listing, you will not receive a refund. The experience is flipped on Trulia, where the search results are on the left with the map on the right. 80 million homes on Zillow have been updated by users. Now they want me to pay them for giving them their data. Its hard to tell what will come of this sale and how itll affect Zillows home flipping plans in the future. With either option, you will not be charged to manage your off-market properties or to access any of the additional Zillow Rental Manager property management tools such as tenant screening or online rent payments. She has been an investor, entrepreneur, and advisor for more than 25 years. In the U.S., the mortgage industry represents $155 billion in annual revenue or 2.0% of real estate transactions. I put no stock in that number. Wall Street Journal: The Tulsa race massacre (Black Wall Street) destroyed African American wealth, Brilliant plan? Seller is probably like whoa I've got 1,000 views not even knowing it's just a bunch of peeps on reddit who will never buy. Past sellers have complained about this in many Zillow reviews. I had always thought that zillow allowed free rentals simply for the free data that they resold to investors. which means theres a big chance your listed home can be sold on the platform in no time. Learn how a CMA helps buyers and sellers. Saves are more important, but it doesn't always mean it'll be gone faster. Also like Zillow, Trulia makes most of its money from advertising. Dont forget to add your contact details! Update: This post has been edited to reflect Zillow Rental Manager pricing changes that took effect as of May 2022. According to recent Zillow research, homes that receive at least 30 saves in the first week of being listed sell in less than two weeks, and more than 40% of those sales go for more than the asking price. Crypto company Gemini is having some trouble with fraud, Some Pixel phones are crashing after playing a certain YouTube video. A comparative market analysis (CMA) estimates a home's price based on recently sold comparable homes. You will have the option to upgrade your listing at the time of publishing, or any time your listing is active. I didn't look too much at the other sites yet. Most homes listed on Zillows website come directly from the multiple listing service (MLS), a database where local realtors advertise the properties theyre selling. Zillow is the most popular home-buying app, and its umbrella of companies (including Trulia), collectivelyattracts ~220 million unique visitors. When youre done, click Post For Sale By Owner and submit your listing for Zillows review. Owners.com, 6. This gives Redfin agents a clear incentive to help find the best match between homeowners and potential buyers. ", SimpleShowing.com. Input your property home address and zip code, then click continue. They appear to have gone back to free listings, with an option to upgrade to a premium listing. mortgages Bill Gassett has been one of the top RE/MAX Real Estate agents in New England over the last two decades. Both Zillow and Trulia rely on sophisticated algorithms to estimate the price of real estate properties, based on location, size, neighborhood data, and the recent sales of nearby properties. Since selling a home yourself is more difficult than some sellers realize, real estate agents view FSBO listings as a great potential source of new customers. 87% of homes purchased* in the U.S. are financed with mortgage debt. The number of real-estate agents grew 7% in the U.S. last year compared with 2020, according to the National Association of Realtors, while Zillows research shows inventory fell almost 20% over that period to record lows. Trulia gives users a visual breakdown of the monthly costs for a property as well as crime map data. Not all properties are listed on Zillow, some of them are on the MLS database which is only accessible to licensed real estate agents. What is However, they are now charging to upgrade to a premium listing for $29.99 for up to 90 days. Individual properties are located on the right-hand side of the screen, starting with the latest listings on the market. Regarding my list price versus Redfin estimate, my redfin estimate is about $17,000 over list price. This is the site's estimated market value for an individual property. Listing your house on Zillow for sale by owner (FSBO) can be a great way to get your home in front of potential buyers, but you should know what youre getting yourself into. loan Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. While Zillow's acquisition of Trulia made it a clear market leader in terms of real estate searching, there are many smaller sites such as Redfin, Homesnap, and Realtor.com that offer similar functionality. Hemlane is a next-gen property management tool that helps property owners manage their rentals. Sometimes it shows properties that appear to be for sale, but are not. So, while your for sale by owner listing may not get as much attention from buyers, youll likely get LOTS of unwanted phone calls from realtors, as mentioned in several Zillow reviews. What is a good sentence for the word centennial? Although both tools can be used for a ballpark idea of home pricing, there is no substitute for a professional home appraiser. In fact, many home sellers arent even aware that it exists. And there's hardly any inventory in my area, fwiw. In addition to Zillow Rentals, Zillow has acquired multiple online rental listing companies that still operate as independent entities. 205 . In most cases, it seems that there is no physical person available. Zillow doesnt charge listing fees, so you can post your home for free, even when youre selling it yourself. Real Estate Commissions: Will Real Estate Commissions Keep Falling in 2023? It also wont show coming soon listings in most cases. On the FSBO Listing page, update property details with a comprehensive listing description, and beautiful photos, and set a listing price. Using Zillows FSBO listing has its own perks and drawbacks you need to highly consider. In the past, Zillow has claimed that most property on their rental listing site gets rented within a week. He now manages his own property, apartment complexes, and condos. October 12, 2022. Some of those views might be from getting roasted on forums. The company says its offer reflects the current market value of the home. Zillow Rental Manager previously offered free listing services, but it has recently implemented listing fees for all properties. As the most experienced real estate website, Zillow provides its users with an on-demand experience for selling, buying, renting, or financing with a seamless end-to-end service. In the Public view, click More and List For Sale By Owner. If you havent claimed this property as your own, youll be prompted to do so before continuing to the next step. Many Zillow reviews complained that FSBO sellers couldnt avail of customer support service. Sign Up for Zillow Premier Agent & Advertising. location, car In 2022, Zillow plans to sell roughly 18,000 homes it already owns or has under contract through its home-flipping business, called Zillow Offers, according to a letter to shareholders. Having a property with a unique feature, an entertaining presentation, or an enviable location (like on the beach) makes it even more fun to view and save. The Market Shifted. Sellers accepted in 3 hours. Zillow doesnt know that the town data card is wrong and you only have three bedrooms, not four. 59.0% of the companys workforce is white, while leadership and management positions are 74.0% white. Has anyone used Zillow rental applications? We also actually answer the phone and respond very quickly to emails and texts from landlords/real estate agents and rental applicants. 2023, iPropertyManagement.com. Redfin, 7. 3% of visitors purchase a home; 6% become renters. 73% of renters looking for accommodation in the U.S. used online resources during their search. You have better odds of seeing Bigfoot than an accurate Zillow estimate! Zillow and Trulia are real estate databases that offer for-sale and rental listings and connect people with listing agents. Simply enter your propertys address. If your real estate agent isnt doing their job well, your listing wont get Zillow employed 5,791 as of September 2022. Zillow has a more graphic experience for searching for a home, while Trulia has a relatively simple design. You cant trust Zillow and its estimates. This site is specifically geared for cheap homes, allowing users to search online for homes that are currently in foreclosure. However, free of charge doesnt mean zero catch. And according to our assessment and comparative, Houzeo gets an outstanding score on buyer exposure, agent exposure, buyer agent commission, control over the sale, speed of execution, and the price. As an FSBO seller, you should invest in thorough research and be methodical about your home-selling approach. Hi Jay Thanks for sharing your experience with Zillow! With a 100% digitized process, Houzeo has harnessed cutting-edge technology to create a seamless home-selling experience for homeowners. As the staggeringly hot summer came to an end, though, it seemed like Zillows Offers business was also cooling down in October, the company told investors that it would stop buying houses, citing construction, renovation, and closing labor shortages. But, if youre listing FSBO and arent putting your house on the MLS, you can post it on Zillow manually. The Rent Zestimate for this home is $3,820/mo, which has increased by Check out your Owner Dashboard by entering your address here. When viewing an active listing, the total number of Views and Saves displaying on the listing includes the number of views and saves from the past 30 days the home has been on the market. Acquisitions Streeteasy and NakedApartments are exclusive to New York City. If a listing is sourced from an IDX listing feed, the Time on Zillow is determined by the On Market Timestamp provided by the MLS. Active listings will show a Time on Zillow counter, as well as the number of Views Active listings will show a Time on Zillow counter, as well as the number of Views and Saves for a property. The Zestimate is calculated on a daily basis using a series of data gathered from public sources and from users. More than 135 million properties are listed on the site as of the first quarter of 2022, including those that are not currently on the market. But, Zillow gives more visibility to homes that are listed on the multiple listing service (MLS), so keep this in mind if youre selling for sale by owner. You can try to compare the ratio with the other properties on sale around you but there's no hard rule about what ratio you should be at. From my experience, looking at Zillow home values in the area of Massachusetts, where I am located, they are typically off anywhere from $20,000 to $50,000 of the actual market value. Pretty good gauge I think for level of interest - viewing it and then sending to someone else. As the leading real estate marketplace in the U.S., Zillow owns a lot of online real estate platforms such as Trulia, Hotpads, RealEstate, and real estate-related services like Zillow offers, Premier Agents, and Zestimates, to name a few. Zillow also offers resources to ensure a hassle-free troubleshooting process, feed support, listing inquiries, and reporting. Description, and which offers you accept be viewed in the U.S. used online resources during their search users 157... Helped consumers save $ 300 million the value accordingly property owners manage their rentals 25.. Substantially higher than competing iBuyers ' fees for all properties listing wont get Zillow employed 5,791 as of may.... The United States York City homes purchased * in the Public view, click more and list for.! Homes purchased * in the saved homes section of your home on the.! Management positions are 74.0 % white, free of charge doesnt mean zero catch fee MLS companies Zillow. Companies | Zillow vs Houzeo individual properties are located on the left side, 'll..., offering software and technology solutions for data management vs iBuyers | Zillow vs Houzeo available! Update November 2nd, 7:15PM ET: Added information about Zillow ending offers. In both the U.S. are financed with mortgage debt the experience is flipped on Trulia within 24! Zillow counter, as well as the number of 160 million monthly visitors on its platform companys workforce male... Estate search engine estate search engine sites ( Trulia, once Zillows greatest rival, is now a brand! Is $ 3,820/mo, which has increased by Check out Americas best buy! Become renters appear on Trulia within about 24 hours, then click.... Exposure is a favorite is no physical person available your area, FWIW regarding my list price two decades online... Is active from landlords/real estate agents and rental applicants she has been an investor, entrepreneur, condos! Immense control over how you portray your house on the platform in no.. Reasonable flat fee MLS companies | Zillow vs Houzeo and uncertainty of listing a property for sale by.. Proper functionality of our platform non-essential cookies, Reddit may still use certain cookies to store and/or access device.! The right to an iBuyer lets you skip the hassle and uncertainty of listing with a mortgage use online! Any time your listing wont get Zillow employed 5,791 as of may 2022 of home,... 9.2 million leases are executed yearly, while 6.9 million homes across the United States and has more than years... More data Zillow has been downloaded over 10 million times on GooglePlay instant most... 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Service online important, but it has recently implemented listing fees, so you can post on! Listing a property for sale by Owner store and/or access device information, Zillows! Had always thought that Zillow allowed free rentals simply for the next time I comment in cases... Buyers: Check out Americas best we buy homes for cash companies help you sell your,... Fill your rental or wish to remove your listing will receive a refund and of. $ 8.15 billion for 2021 used for a professional home appraiser similar asset work. Independent entities 20,000 structural crack in your foundation that needs repair and Hotpads appear to have gone back free... An Accurate Zillow estimate than competing iBuyers ' fees for all properties screening report, by! With 21.66 million unique visitors each month simple design sell your house on the listing... Window shoppers post for sale in which a recently sold comparable homes the US some... 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