Hey Agents-Why are you allowing Zillow to play both sides of the fence?

By
Real Estate Sales Representative with REALTY WORLD-Harbert Company, Inc.

I saw an article that disturbed me and posted on Facebook.  Maybe one agent cared. Oh, make that two, including me.

 

See below and let me know your thoughts:

 

Zillow For Sale By Owner-WHAT????????????

 

http://www.linkedin.com/news?viewArticle=&articleID=851272043&gid=87042&type=member&item=76065655&articleURL=http%3A%2F%2Fwww%2Edeadlinenews%2Ecom%2F2011%2F10%2F18%2Fzillow-enhances-multiple-listing-service-clout-for-fsbos%2F&urlhash=SaS4&trk=group_most_popular-0-b-shrttl

 


 
Zillow enhances multiple listing service clout for FSBOs
By Broderick Perkins · DeadlineNews.com © October 18, 2011
Buy | Sell, Selling · Tagged: FSBO · No comments
 
If you want to sell your home on your own, you’ve got to muster what amounts to a boots-on-the-ground level of experience akin to that practiced by real estate agents who’ve been in the trenches for years.
As a “FSBO,” (for sale by owner) real estate agents are your competition and they wield the mother-of-all marketing tools, the multiple listing service (MLS), a service agents provide only for sellers who list with them.
Local, regional and national MLS systems typically provide the best level of one-stop-shopping for homes for sale because they list, in one location, the majority of existing homes for sale in a given market.
The MLS, now largely an online operation, is where most buyers begin to browse for housing – before they even seek an agent’s help, according to the National Association of Realtors’ last Home Buyer Seller Survey.
Back in 1996, thanks to a fledgling Internet, the original FSBO MLS, Owners.com, gave some of that MLS marketing clout to FSBOs by offering an online portal for home sellers brave enough to go it alone.
After Owners.com came ForSaleByOwner.com, HomesByOwner.com, SaleByOwnerRealty.com, 10Realty.com, FSBO.com, Postlets.com and others, but the scattered sites, with varied levels of success, lacked the all-inclusive cohesiveness that makes traditional MLS operations powerful marketing tools.
Leveling the playing field
Zillow just changed all that.
The consumer-oriented real estate marketplace and information portal, boasting 3.6 million existing properties for sale, recently announced integrating 50,000 FSBO listings to meet the demands of sellers who have the stomach for going it alone.
FSBO sellers have the stomach because they also have an appetite for savings.
The primary reasons sellers go FSBO is to save money on the commission real estate companies charge. At about 6 percent a pop, that comes out to a hefty $15,000 on a $250,000 home; $30,000 on a $500,000 home.
Enhancing FSBOs’ marketing effort makes Zillow’s move a godsend for marketing strapped FSBOs, but Zillow isn’t just another FSBO site.
From month to month, as one of the most visited real estate web sites, Zillow, behind Yahoo! Real Estate, runs neck and neck  with Realtor.com, the National Association of Realtors/Move.com’s more real estate professional-oriented site offering the nation’s largest national MLS system with 4.2 million homes for sale, according to the latest Experian Hitwise tally.
“If you’re serious about home shopping and are simply viewing listings from traditional real estate websites, you’re not seeing the whole picture,” said Zillow CEO Spencer Rascoff.
Zillow’s FSBO database
Along with offering free FSBO listings for FSBOs who list direct with Zillow through Zillow’s Postlets (a site offering individual web page listings), Zillow also offers higher profile fee-based FSBO listings and FSBO listing feeds from several leading fee-based FSBO websites, ForSaleByOwner.com, HomesByOwner.com, and Owners.com.
Zillow integrates FSBO listings along with traditional listings, but home shoppers can narrow their online and mobile device search to only FSBO listings.
Perhaps the only drawback for FSBOs using Zillow’s site is its limited FSBO educational information, which is relegated to a handful of guides all dating back to 2008.
Leveling the MLS marketing field for FSBOs is a good start.
But Zillow needs to build a FSBO advice and information center to help FSBOs compete with real estate agents outside the MLS marketing arena.
Until then, to learn the FSBO trade, FSBOs will still have to visit the same existing FSBO sites that Zillow taps for FSBO listings.
About the author
 
Broderick Perkins, was the first real estate journalist to manage a daily newspaper's online real estate section. He parlayed more than 30 years of old-school journalism into a digital real estate news service offering "News that really hits home!" -- the Silicon Valley bootstrap, DeadlineNews Group. The group includes DeadlineNews.Com and DeadlineNewsroom.Blogspot.Com and a host of clients. DeadlineNews.Com also covers consumer, personal finance and a little offbeat news. Network with Broderick Perkins on LinkedIn.

 

So agents, let me know again, why are we going to support Zillow? 

 

If no one cares, I will play their game, but make sure I am number one at it, but I don't want to play their game, I want us to stand united.  We will see if agents know what standing united means and is.....

And hey MIBOR and NAR-Where are you at while this is out there being marketed both ways?
 

Posted by

________________________________________________________________________________________________

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc.

317-371-2622

indplsrealestate@gmail.com

www.FindingYourIndyHome.com

 

 

If you need assistance in Indianapolis IN, Carmel IN, Martinsville IN, Greenwood IN, Whiteland IN, Franklin IN and surrounding areas, considering buying or selling a home, or considering the option of a Short Sale, contact us today at 317-885-8858.  We have experience in Greenwood Real Estate, Indianapolis Real Estate, Greenwood IN Short Sales, Greenwood IN Real Estate for Sale,  Franklin IN Real Esate, etc.

About the Author: Heather Fitzgerald, who has over 24 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-371-2622.

Areas of Service: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.

Copyright © 2018 By: Heather Fitzgerald- Greenwood Real Estate For Sale. All Rights Reserved.

Heather Fitzgerald on Facebook  Heather Fitzgerald on Twitter  Heather Fitzgerald on LinkedIn

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Rainmaker
647,193
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

I realize that some sellers may be tempted to sell their home, but getting it to the closing table will be a nightmare.  I have seen it happen more than once.

Nov 01, 2011 08:09 AM #1
Rainmaker
271,554
Dave Roberts
Healdsburg Sotheby's International Realty - Healdsburg, CA

Whether Zillow does this first, or Trulia, or some new entrant like Google, it's going to happen. FSBO listings are going to find their place in the sun, just like airlines and hotels assembled travel deals that bypassed travel agents and went direct to customers. Real estate is fundamentally more complicated than flying to Florida, but there are lots of major players including title companies that can peddle their wares to any available consumer. I don't think we're going to block this trend. My advice is to position yourself to be a net beneficiary rather than a victim.

Nov 01, 2011 08:11 AM #2
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Oh it will and has happened.  I won't be a victim, if the masses don't stand up against, it, which we should, as they are playing both sides of the fence and we have enough of that in politics, then I shall have a goal of being number one agent in my area on there.

It is interesting how complacent people are on issues no matter how big or small. 

 

What is that saying?

Stand for something or fall for anything is the jist.....

 

Nov 01, 2011 08:15 AM #3
Rainer
45,843
Melia Campbell
Campbell Realty - Marysville, CA

Unfortunately Zillow is simply trying to make more money.  It reminds me a bit of Realtor.com, who takes the information WE input into our local MLS, strips out our contact information and some photos, and then offers to add it back for a fee.  Who owns Realtor.com?  Why that would be NAR.  We spend time and money battling those who profess to help us and want us to succeed.  A true double-edged sword.

Nov 01, 2011 08:16 AM #4
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Oh, one more thought.  Good luck on a Short Sale as a FSBO, Zillow. 

Consumers, you need experts to know how to handle your real estate with care, knowledge and finess.  Zillow is an expert at their thing, and we are experts at ours.

It is a rare person that wants to represent themselves in court for serious issues, and the same thought process should be there for real estate.

Would you or should you close without title insurance?  Would you or should you go into court without an attorney by your side very often? Should you wing real estate by yourself?

Things to think about, especially if you are needing help with a complicated real estate transaction.

 

 

Nov 01, 2011 08:19 AM #5
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Well said Campbell Realty, and how did we get there in allowing NAR to get away with that?  Complacency.

Nov 01, 2011 08:22 AM #6
Rainmaker
1,908,040
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Actually NAR no longer owns Realtor.com(about 3 yrs. now) . But I do agree that Zillow is playing both sides of the fence. The good news is that a majority of FSBOs in our area seem willing to pay a Buyer Agents fee.

Nov 26, 2011 12:57 AM #7
Rainmaker
2,191,320
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

I support Zillow because there is enough business for us all. I don't feel threatened by Zillow. I offer something Zillow does not. Plus, I get a lot of business from Zillow. When sellers are looking for an agent on Zillow, I shine by comparison. Or at least that's what a seller whose home I listed yesterday told me.

But I totally agree that a FSBO short sale is a joke. Not. going. anywhere.

Jan 11, 2012 01:31 AM #8
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Elizabeth,  I am going to work at that, shining on Zillow!

 

That is awesome it is working for you!!!

Jan 19, 2012 06:19 AM #9
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Rainmaker
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Heather Fitzgerald

REALTOR Greenwood Indiana Real Estate
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