Zillow has undergone some changes recently, so today I would like to talk about what is new with the site. If you visit Zillow’s website right now, you’ll probably notice that Realtors have been removed from every listing on the site. Now, instead of the name of an agent, the site is advertising their new Instant Offer program.
This program shows what Zillow will pay a homeowner for their property. Before, Zillow gave homeowners the opportunity to reach out to agents directly. Now, they are moving past that. This isn’t to say Zillow may not sell leads back to Realtors, but for now, the Instant Offer program has taken the place of agents on the site.
So, how is this affecting today’s Realtors? For one thing, it means that people who advertise heavily through Zillow, myself included, will no longer have the option to do so.
However, it is actually investors who will be most affected by this change. This is because Zillow will be getting the first crack at properties investors may have previously been the first to capture.
I also believe that this change will place Zillow in more direct competition with other platforms like Opendoor and OfferPad.
“Zillow will be getting the first crack at properties investors may have previously been the first to capture.”
It is important for Realtors to be aware of this change and how it may affect them. Staying informed is a critical aspect of any agent’s career. If you are concerned about this change, my recommendation is to focus on your past client database. Build deeper connections with people you have already formed relationships with.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.