Frank & Brian, thanks for the information, it is a tragedy that our MLS systems have sent the information to Zillow and that NAR does not seem to be working in the best interest of Realtors. What can we as individual agents do to take back our information and protect our industry?
Follow the money is it the fintec behind the push? Amazon looking to break another market
They don’t have to leave a truck, they are the DOJ.
Bryan/Frank, Can you share a link to that earnings report?
If its buried deep on a long page, could you take a snip out and put it on your site, then share a link to that?
I am not a supporter of Zillow, and my comment is not to defend it, but I believe Frank & Brian are misinterpreting the statement in the Q1-2019 report. In essence, I believe it says Zillow pays 93% of the MLS listing price (not that it charges 7% of the sales price.) In most other real estate sales transactions, the seller-buyer agreed upon sales price is often 4-10% below the listing (asking) price; thus, an average of 7% below the MLS listing price. Please correct me if I am wrong on this. Thanks.
I found it!!!! Zillow does not charge to sell a home ( FSBO) and now they are purchasing homes Nd selling them through their Premier Agents. They pay the buyers agent 2.5% ( Ivestopedia, May 2019) I have also spoken directly with Zillow reps.
I think you miss a huge point to the DOJ action. National Association of Realtors NAR is one of the largest lobby groups in Washington second only to perhaps the NRA, National Rifle Association. This DOJ effort is not about the money your agent charged to sell the home. It is breaking up the Realtor Association and the lobby they represent.
I have ALWAYS used limited listing services at flat rates of a few hundred dollars. I have never had a problem selling 13 of my flips so far. I get full market value and sell within normal market times.
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