Posted on 08/04/2018 1:06:02 PM PDT by AAABEST
“Real estate brokers and agents invest resources into obtaining property listings,” wrote NAR, which counts 1.3 million real estate agents as members. As such, NAR said agents have “rights and responsibilities to control the distribution of their listings.”
Any “appropriation of a commercial entity’s data, work product, or intellectual property for exploitation by another commercial entity is not justified,” NAR added.
But while Zillow argued for the “democratization” of data, NAR said calls for greater access to MLS data are “based on faulty expectations that unrestricted access to listing data will help consumers.” Instead, NAR said, “forcing brokers to provide unrestricted access to proprietary MLS information can alter important incentives for the creation of listing information.”
(Excerpt) Read more at therealdeal.com ...
Agents have always been and always likely always will be free to enter listings into Zillow. Anyone can.
That's not what Zillow wants. If they get THAT, they're done.
Zillow is crap... at least in my area. Anyone who thinks that they are getting anything close to their properties worth out of Zillow will be waiting a long time for a buyer who likes overpaying.
You get what you pay for...sellers beware!
Yes, but to be precise, the realtor gets all the money that you agreed to pay him. This is not a problem.
Interesting info about Zillow. I’ve never considered that they are encroaching on other companies, especially the MLS, for their “free” and quite often erroneous information.
It is a contract. They told me what their price was and I was the one who agreed to it.
I gave them everything told told me up front I had to give for their full and complete work to handle the home sale.
I would have answered differently. My bad.
The only houses on MLS services are ones that are actually for sale. The only ones there are ones that sellers have listed with member companies in the MLS.
As a rule, realtors don’t go around appraising (or zestimating) every house like Zillow does.
That said, Zillow’s zestumates can be wildly wrong. A house due to go to tax auction might have serious problems not evident from an aerial photo.
Also, Zillow’s data can be very much out of date...houses that they say are for sale might have closed months ago.
I know of brokers who make sure their listings show up in Zillow, because it gets more exposure to potential buyers.
Exactly. Any agent who works for peanuts is nothing but a scrub. Good agents who spend money on their clients and business and put their ass into their vocation cannot survive on that. Another issue is that lower priced listings won't get action or just won't get sold by agents at all.
Pros work off incentive, which is why I was never worried about tech cutting into agents business. People will always need lots of professional help with real estate, regardless of how properties get listed.
What’s wrong with Zillow?
Ya know what sucks with sites like Realtor.com?
Those stooges won’t allow people to filter out the intrusive costly HOA properties! They force you to look at them. They have filters for everything, but the most obvious!
I find that bizarre...It tells me they’re having issues moving some of these properties in restrictive HOA compounds.
People are now listing with Zillow.
Sellers will be the ones to sue to ensure their properties gain access to the monopoly controlled MLS.
A CLEAR violation of the anti-trust act.
NAR will be required to grant access to the MLS for all sellers and their agents...by a Federal court decision.
As certain as the day is long.
Found our second house on Zillow, contacted a local Agent and worked out a deal. Had it not been for Zillow we would have never found it. It’s free service for the buyer.
What's happening now is Zillow wants to compel that through government and the courts and by strong-arming my local, state and national boards for data that they have absolutely no right to.
I use Zillow every day.
They provide me a general idea of a properties value that is taken with a huge grain of salt.
I take phone calls from a hundred people a month that want to “Tell” me what their home is worth and I need some objective third party that will, at least, let me know if they are even in the same ballpark.
If they tell me their home is worth 500k and Zillow has them and the neighborhood at 300k?, I may send out a Realtor to get a true valuation.
More often than not, Zillow is fairly close.
I provide unsecured consumer loans based on Real Estate/Equity in one day, without having an official appraisal.
Even when Zillow is way off the properties real value I can make the loan work if there is sufficient equity.
Zillow provides me enough information (it doesn’t need to be exact) that allows me to continue the conversation and provide my families the funds they need.
Thank you for the conversation though.
Fixed market. You agree to their demands, or forget about seeing buyers. If other industries were able to fix prices like the realtors, they'd instantly become more profitable.
I know enough to know that a monopoly of licensed agents controls who enters data into it.
I’m thinking you do not understand anti-trust law.
Why is Zillow a hazard?
Why is Facebook a hazard?
IMHO, selling valuable information that has been STOLEN from others should be a crime.
And, IMHO, so should USING the unearned profits from such thefts to build a monopoly...
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