Zillow released a statement over the weekend to clarify their ban on listings.
As you can see above, the list of exclusions to their new policy is long and lengthy, and it makes you wonder what’s left? Most importantly, what or who is so disruptive outside of this list that Zillow thinks they need to create a new policy and make a big stink?
The only example of a listing being exposed to the public that takes longer than one business day to be inputted onto the MLS are those from the occasional part-time realtors who aren’t aware of the current rules and who throw up a sign up too early or pop off in advance on social media. Those actions are against the rules now, and the MLS police is actively hunting down those violators and fining them thousands of dollars.
Zillow thinks they need to hunt them down too? And Redfin?
It’s all grandstanding.
They just want to make themselves out to look like the good guys vs. Compass. They have no intention of blocking our listings. They never did.
The real truth? It appears that everyone is threatened by Compass.
Remember hearing about Compass acquiring Berkshire Hathaway Home Services a couple of weeks ago, and their CEO Gino said it wasn’t true?
Did you see that Gino got reassigned last week? He got sent out to pasture. Coincidence? When Reffkin was asked about it in our meeting last week, he politely dodged the question….which isn’t a denial.
It doesn’t need to be BHHS. If Compass picks up one or two other Top Ten brokerages, we will become the driving force in the home-selling business.
It’s why we joined Compass seven years ago. I could see this coming where a big brokerage hires all the best listing agents, fills in the ranks with medium producers, and dominates the environment.
Note this for the record.
There isn’t a MLS system in New York City, and NONE of the agents belong to the National Association of Realtors.
Compass headquarters are in NYC.
Why is Zillow running scared?
Nearly 70% of agents who have purchased portal leads in the past say they no longer buy them, citing ‘time and money’ needed for maximum ROI, according to the latest Intel Index polling data.
The original post by Zillow is on LinkedIn, and the industry titans were quick to jump in. The comments got hot:
https://www.linkedin.com/pulse/make-mistake-we-championing-transparency-zillow-zillow-gp9ac/