POTUS vs Zillow CEO
You guys always have great content and I faithfully listen to u!
The way they will track it is Dotloop! The more people who use Dotloop the easier it will be to track for them.
I have never paid Zillow anything and I never will. They get our listings for free and then charge Realtors for the leads we helped provide. It is crazy and equivalent to the drug addition Mark Handlovitch noted above. NAR is partly to blame since the Zillow site is much better than Realtor.com. If Realtors had their own site as robust as Zillow, then this would be a very different discussion. Now I am not getting into the legal aspects of sharing the listing information. That is another long and complicated matter. However, it is simply a fact that Listings are paramount and Realtors, as a group, gave them for free to Zillow, et al. As to title and mortgage lenders, everyone wants to leach off the Realtors efforts in securing listings. As a group, I think WE should be charging site aggregators, like Zillow, fees to post our listings. They get tons of traffic, sell advertising to many ancillary services and they get their “product”, our hard-fought listings, for free! Zillow then charges Realtors fees to get back the very leads the Realtors helped to create! What a business model! Yeah, it is a pipe dream to now try to charge to post our listings. But we are in this position because, Realtors, as a group, are poor business people. Nice to the public, but lack real business skills in my humble opinion.
“Success Fee sounds like an illegal referral fee in violation of Section 8 of RESPA to me.
^^^^ This. Cannot wait for the class action suit to follow.
“Success fee” sounds like an illegal referral fee in violation of RESPA Section 8 to me.
I thought that a referral fee paid by a realtor to ANYONE was illegal???
You can send a referral agreement to another realtor and it’s not illegal.
No different to Op-City, Homelight, Redfin and all the others that get a referral fee on the back end at the moment, smart move by Zillow, they will make more money this way.
an endorsement from Liar Trump, just what we need!
I agree with Larry Scaduto above. I’ve felt that way for a long time. Why should they be able to get my “Exclusive” listing and sell the leads? And because NAR didn’t stand up to them they hold us hostage. If I select “YES” to “IDX” my listings are posted on Zillow and everywhere else. If I select NO on “IDX” option my listings won’t go up to the other sites and my sellers would scream bloody murder. Why can’t Rea;tor.com and NAR get together amd make one officila Realtor website with all the leads going to the listing agent? Then our listings would be exclusive again. PISSED OFF.
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