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September 2017   Volume 43, Number 9      
 

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Zillow’s Instant Offers Program Draws Ire From Real Estate Agents

Over 32,000 real estate agents around the country have signed online petitions opposing the Instant Offers program Zillow rolled out two months ago in the pilot markets of Orlando and Las Vegas. Petition organizer Greg Hague claims the program will cost sellers sales profits by encouraging them to settle for discounted prices with minimal guidance from real estate agents.

“This is going to sucker home sellers into making a mistake that is going to cost them an education for their kids, an amazing family vacation or just sleeping better at night because they have more money in their bank account,” said Greg Hague, a lawyer and real estate broker in Arizona. “And to do it all without the advice of a Realtor or appraiser or anyone — that’s the bottom line.”

The anti-Instant Offers campaign wants the National Association of Realtors to intervene with Zillow. In June, the National Association of Realtors stated it could not “sponsor or encourage a boycott of Zillow.” The association has instead urged its members to “inform their clients and customers of the value they bring to the real estate marketing and sales transaction, and the problems and risks sellers may encounter in marketing and selling their home without using a Realtor.”

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In this issue:

The 10 Fastest Growing Cities in the U.S.

Automation Could Eliminate Real Estate Appraisal Jobs

Life Is Great for U.S. Homesellers

Los Angeles Ranks First as Best City for Global Real Estate Investors

Millennial Homebuyers Are Struggling

Millennials More Likely to Regret Real Estate Choices

Real Estate Startup Redfin Gears Up for IPO

Zillow’s Instant Offers Program Draws Ire From Real Estate Agents

Second Homes Sales Decline as Investment Sales Increase

Nine Highly Salable Factors of Real Estate Property



 


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