Zillow stocks are dropping, seems the recent lawsuit with Move.com, costs are more than expected and Zillows response? Cull the herd! Spencer Rascoff CEO his logic raise agent fees, this way only the "Best Agents" will dominate the market place. No the richest ones will be there but for how long? Till they do the math for the ROI?
Mr Rascoff with his fancy Harvard Education is working hard to spin this one. Saying by raising rates he is culling the herd and spot lighting the "Super Agents". Let me interpret this phrase for you. What Mr. Rascoff is saying is all you Super STUPID Agents will be floating Zillows Boat. After all you give him your listings for FREE so he can make billions. Now you can give Godzilla 50% plus of your commissions, because he said so. Stupid?
I did the math after advertising on Zillow for 7 years, and yes, I was one of the first to venture into Zillow land. And it did pay off, for a few years. As rates rose I continued to back off and try other means of generating leads. Last year i got the Dear John call from a perky Zillow rep. I had hung on to one zip code for 1200 views a month which generated maybe 1 or 2 contacts. But as I said I already knew it took 20 contacts for one viable lead. The perky rep then said we are raising you monthly from $420 per month to $1,025 and cutting your views in half. So much for loyalty. I negated.
Now when I get that call from a Godzilla sales rep, I rub it in and berate them for even thinking I would be dumb enough to even try to compete with the mega Teams and Brokers spending $5,000 a month. I keep thinking I should be on the No Call list!
MAD AS HELL AND NOT GONNA TAKE IT ANYMORE!!