Can Zillow’s new approach leave RE agents out of the game?

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Mortgage and Lending with PS Mortgage Lending 305-791-4874 or 888-845-6630 365768

Zillow has just made the buyer/seller real estate market a breeze, offering their new software (Zillow Instant Offers), which lets sellers automatize the selling and offering of their own house, giving  competitive offers (if the home qualifies), and erasing the middle man from the equation. 

Now, buyers and sellers are the main target and income base of all local real estate agents. My point being… Is Zillow taking the middle man away?

Job automation has become a hard and real problem in this new information era. The job market appears to be sliming, giving certain professions a run for their money when being compared to machines and apps that can do a quicker, faster job than the human mind.  

So, should real estate agents be concerned about this? 

In my opinion, there’s no comparison between the human treatment and the mechanical option (which sometimes can leave buyers or sellers in the blindspot). 

The thing is, Zillow will be giving options that are below market, there will be no one representing sellers or defending them from and evident lack of experience and business know-how. A concerned client will always look for a real life, flesh made agent that will help him understand the process, and get the best offer out there. There’s simply no comparison.

 

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Copyright © 2013 by Phil Stevenson & PS Financial Services, LLC

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Rainer
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Ronald Curtis
Manes Realty Group - West Palm Beach, FL
Negotiating the best price and terms for my Buyers

Hello Phil....

I wish that I could be as optimistic as you.

If a seller feels that they will be able to sell without paying a listing commission, they will be jumping on it.

Mar 22, 2019 12:02 PM #1
Rainmaker
264,876
Phil Stevenson, CRMP
PS Mortgage Lending 305-791-4874 or 888-845-6630 - Miami, FL
"Mortgage Nerd" in Miami, Florida and Texas

Very valid point, Ronald.  One could also say that by seller at that lower amount, it will hurt the market, via lower values.  At the same time, many thought that online trading platforms would be the end of the financial advisor, and that rocket mortgage would be the end of the mortgage professional.  Neither has happened that way. 

They have each become players in their respective games, and maybe they have only acquired the "do it yourself" traders and the clients who would walk into banks anywa.  The ones the FA's and Mortgage Professionals might not get anyway.  Only time will tell...

I also heard someone say, Zillow is not doing this to sell homes, but to sell the leads they get from those who do not sell to Zillow.  Would you buy listing leads?

Thanks again!

Mar 22, 2019 12:38 PM #2
Rainmaker
4,020,276
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Phil, Z Offers are all much lower than a homeowner would get if put their home on the market.

Mar 29, 2019 03:05 PM #4
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Rainmaker
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Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
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