Zillow Ready to Up Agent Fees Big Time

02/17/2016
Featured Video Play Icon

The strategy for Zillow to make up for their losses is to basically charge a bunch more money to those who can afford it, leaving those who can’t out.

Comments

comments

Comments
  • I still find it amazing that agents allow this. When I see a listing on Zillow with the listing agent and 3 other agents shown, i think, why? Why should an agent have to pay to be the exclusive agent for their own listing?

    dan February 17, 2016 4:05 am Reply
  • Get our listings off Zillow. Why should we even have them on there! They let FSBOs on there.
    I say talk to your Broker and to your Board and refuse to let their MLS providers IDX them to any site that lets FSBOs on there.
    We have Realtor.com
    Lets do this folks!
    Joey

    Joey Hayden February 17, 2016 5:50 am Reply
    • Joey, that would be great if we still owned Realtor.com. I agree Zillow is the pits and hope someone out there will step up and put them out of business.

      Kathy Morrison February 17, 2016 7:27 am Reply
  • Interesting to see the Realtors dealing with a similar issue that smaller mortgage brokers already dealt with years ago. In 2012 we signed up with their Marketplace to QUOTE rates on their site. Their eyeballs were significant and since our margins were low we crushed it with leads and closed loans. Then in 2013 Zillow changed their requirements of amount to pay to participate and the results also were never as good as when we started in 2012. They have basically admitted that ‘smaller’ mortgage broker shops do not belong on the marketplace mainly because the cost is prohibitive. SO–>that affects the general population of consumers in that they will not see the smaller shops with the lower margins and the BETTER rates because it costs too much to do so. They created a long form program to get us back in to being a part of Zillow but those leads are nothing like the marketplace leads which are people looking to do something right now, versus the long from which tends to be people looking to do something 3-6 months out. So now the REALTORS not looking to pay full freight are getting the same treatment the smaller mortgage brokers received several years ago. Zillow is a pure—gotta pay to play be it a top real estate agent for 30 years or someone just starting…as long as you pay.

    Tim McNerney February 17, 2016 6:36 am Reply
  • Let’s cull Zillow!

    Ernest Jakes February 17, 2016 6:55 am Reply
  • Let’s cull Zillow it is only our strategy to do so.

    Ernest Jakes February 17, 2016 6:56 am Reply
  • Why pay for leads that you would get anyways if someone is interested in your listing. It is so annoying that Zillow gets their nose in the way of a customer just contacting me because they want to see the house. And yes, if you pay the BIG bucks you get the lead – which I feel they should have never gotten in the first place. Where does this road end. You got a middle man who should not even be there. I just wanted to say. Everyone has their hand out and want a piece of the pie.

    Joyce Greener February 17, 2016 7:29 am Reply
  • I work Zillow and get a lot of good business. It more then pays for itself. If I pay a little more and get more exposure because there are less agents, all the better for me! Buyers will not stop shopping the sight and I wont stop paying to get them!

    Trina February 17, 2016 8:04 am Reply
  • Wow, the bashing of Zillow. I love Zillow. I love the exposure it gives my company. My return on investment is about 3 to 1 every month. However, what Real Estate comes down to is more than just internet leads. It comes down to motion creates emotion. Get off your butt and let people know what you do for a living. Look at Zillow as a tool for success. Zillow just may not be the right fit for most but is good for others. I will agree that at some point the investment in Zillow may not equal my company’s return. If that happens changes will be made on our marketing dollars. For now.. I’m satisfied with the results.

    Steven Walczak February 17, 2016 8:21 am Reply
  • Any one have any ideas on how to get out of my contract? They suckered me in and want to charge me 2 months to cancel. The leads have been horrible!!! I’ve been doing it for 4 months and I’m paying too much!

    Gail DeMarco February 17, 2016 8:48 am Reply
  • Those of you who are MLS members should have the option of opting out of the syndication of your listings. Your local MLS may not even be familiar with your ability to opt out and you may have to push the issue to do so. If you choose not to allow your listings to be on IDX syndicated websites or Zillow or Trulia, you may not display other agents’ listings on your website. You can, however, allow your listing to be displayed on a website of your choosing such as Realtor.com. I have long been frustrated by agents advertisements claiming knowledge of my clients’ listing information when they often had none and often displaying stale/inaccurate information. I have had clients want all photos of their new home removed from all websites after escrow closed. An impossibility when a listing has been syndicated.
    As an independent broker, owner of my business and able to choose how I market my listings, I have chosen to opt out of syndication to IDX websites EXCEPT for Realtor.Com.
    Joey Hayden is correct….if you are frustrated with current syndication policies, start a discussion…..you do have options.

    Jane Kenedy February 17, 2016 9:15 am Reply
    • Jane I hope you realize that News Corp bought Realtor.com by buying Move Inc. News Corp will eventually be doing the same thing as Zillow. Murdock and Company know how to make money if nothing else.

      Rick Kesseler February 17, 2016 5:39 pm Reply
  • Thanks for bringing News Corp and Realtor.com into the discussion.
    Yes, I know that News Corp bought Realtor.com by buying Move Inc.
    And yes, News Corp has the potential to do the same thing as Zillow….it remains to be seen.
    At the time of the sale to News Corp, NAR had only a small percentage of ownership interest in Move Inc. NAR owns the domain name Realtor.com. As long as NAR owned a small % of Move Inc. NAR had standing with the board, attended meetings & had a say in the operations of Realtor.com. Now that NAR has no % interest in Move Inc. there is less control by NAR.
    Since the Realtor.com domain name continues to be owned by NAR there is some control about what can & cannot appear on Realtor.com. There are no FSBO listings on Realtor.com.
    My contact information is available as the listing broker at the top and bottom of my listings without my paying anything to Realtor.com.
    Buyers associate Realtor.com with REALTORS who supply Realtor.com.
    My listing information is accurate & has timely information instead of the incorrect, duplicate, sales information on Zillow.
    I allow Realtor.com to show my listings on their website when & if my clients feel the need to increase exposure beyond my local MLS and co-operating MLS services used by other Realtors.
    NAR is not financially able to fight the big “tech guys” on their own. News Corp is definitely a big “tech guy” capable of dealing with Zillow. For now, News Corp ownership of Realtor.com has the potential to benefit REALTORS & clients as long as the domain name remains in the hands of NAR.

    Jane Kennedy February 18, 2016 4:42 pm Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

 

Menu Title