If you are in real estate, don’t ignore this. Without your sellers, Zillow wouldn’t have buyers. That makes it vulnerable. So Zillow developed a plan to take your sellers away… and direct them its way. If Zillow succeeds, it will own you.
Zillow just introduced a program called “Instant Offers.” It’s being tested in Orlando and Las Vegas before it rolls out nationally.
Consumers give Zillow info on their home to receive a quick offer. Sounds good, until you dig deeper.
Offers are from investors whose business is buying low and selling high. Sellers pay an 8%-9% “service fee,” which includes no help from a real estate professional.
Zillow knows few sellers will agree. The price is too low and the cost is too high.
Zillow doesn’t care if sellers accept. Its goal is not to help sellers sell, it’s to snag those sellers before they call you.
Zillow’s big weakness is that homeowners call you when they decide to sell. Zillow may have the buyers, but you control the listings that attract those buyers.
Without your listings, Zillow is dead. Zillow hates being dependent on you, and is determined to change that.
Instant Offers is designed to attract sellers before they call you. Zillow will then try to influence those sellers to list with a Zillow agent… instead of you.
Zillow has powerful tools to influence sellers. For example, it could say Zillow agents have access to more buyers because Zillow agents are displayed next to more Zillow listings.
See the irony? Zillow uses buyers it acquires from your listings to help its agents take listings from you.
If Zillow is successful, it will own you. So what’s the solution? Let’s build an alternative to Zillow, a website that we control.
I wrote the petition to request NAR’s help with Zillow. That likely won’t happen, and Zillow wouldn’t stop if it did.
The petition is now a signal to the investors we need. It’s proof that there is industry support for a Zillow alternative website.
Your signature is a vote for an alternative to Zillow. Let’s build a website designed to sell your listings, not take listings away.
Please sign the petition. Your name will not be shared or used for any other purpose.
Warn the public. Urge consumers in your market to read this: Zillow’s Secret Plan
Real Estate Attorney, Broker, and Huffington Post Writer.
** Zillow co-founder, Rich Barton, decimated travel agents when he launched Expedia. Don’t let him do it to you. Please sign the petition.
** Redfin just filed a $100 million IPO to combat Zillow. Imagine an industry controlled by Redfin and Zillow. Your choices: Take a salaried job or pay ransom for customers. Please sign the petition.
Your info is secure and will never be shared.