So, I am an investor and realtor. I work and live in Dallas Tx and Starting January 12th. Zillow will not longer pull rentals from the MLS and put them on their site. They will charge everyone, Realtor or landlord 9.99 a week to put them on the MLS.
Zillow is becoming the MLS for rentals or trying to. They have pulled realtor rentals off. Should realtors pull their for sale listing off in retaliation and see what happens? What is zillow really planning on are they trying become the MLS?
Zillow scenario as MLS
1. Home owner pays flat fee. You get your home on Zillow, title package, loan package all for that fee. Showings... No realtors needed. Home owner will have open house on Saturdays and Sunday for buyers to come. Offers will be made through Zillow site. Advice on process ect. Zillow has realtors on staff that get base salary and walk you through the process. Zillow gets the house, the loan and the title.... Realtors, loan officers and title companies out of work. Zillow wins.... Should we as realtors remove our listing from them now to stop it. They just removed our rentals....
Will just end up backfiring. Expect apartments.com to increase market share and craigslist to make a comeback with this move.
They are taking over our business with greed, now they want to make all the money, they want to be the buyer, the seller, the realtor, the manger, the tenant screening, the rent collector, the title company, the lender, and if you want to business through them you must pay. the got so much leverage and market share, if all realtors pull out their listing for one month Zillow will get humbled and stop the monopoly game, each one of us should share his view on social media platforms so this doesn't get overhand, because if Zillow makes it to educate the market place that realtor and useless then we are gone. but Zillow needs our money to use it to educate the market and take more leverage.
let's stop this greed, while individuals are making a simple living, those monopolies are trying to make billions to hold in the banks.
So you are advocating forcing a private company to carry rental listing for free? While Zillow may have a large market share in your area, in many areas they are irrelevant
@Greg H. What Ahmed is describing is called a monopoly where they try to control an entire market, aka the real estate market. When this happens it prevents other new businesses from being able to compete. If small businesses cannot compete then this country will die, because small businesses are the lifeblood of this country. So you think putting small businesses out of business is good?
Zillow is everywhere. It is highly unlikely to find a town that Zillow doesn't have a listing. They were a good company when they provided a service to search listings from everyone now they are trying to push the little guys out and take over everything.
I think they should make money but not a monopoly. I think they can charge a fee but not $ 2 per house per day ( yes two dollars per house per.) I grantee you that they will lose the leverage they got if they keep this Way, the only reason they are that strong is that they been so long in the game and provided a nice free platform for listers , ( well not totally free ( they been charging realtors since day one for leads ). LOL of course they deserve making so much money but not all the money !!! so what! Now we don't need realtors and we don't need lenders and we don't need property managers, because this one-stop-shop can do it all by force. the same way Amazon did it. ( so now the guy that owns a small neighborhood electronic store is working as a driver for Amazon. Don't take me wrong I love intrapreneurship, I'm actually an intrapreneur but IF one day I get the power to destroy other people's careers so I can increase my net worth from 20 billion to 40 billion I'll not do that.
Feel free to follow all my posts since I upset you!
Where to start. Zillow is hardly a monopoly. Zillow made the decision to transition from being a Portal to a Brokerage. Previously, while acting as a Portal, Zillow received virtually all of their listing via a feed from local MLS systems. Every time a Realtor listed a property in MLS for rent, it would appear on Zillow as well as other sites such as Realtor.com unless the agent "opted out"(That feature is not available in all areas)
Why the change for Zillow? Several reasons including the desire to get in the brokerage business and the desire to have data contained within the MLS. Their vaunted Zestimate has been worthless in Texas since we are a non-disclosure state. Their ability to have this data will change that
So, this will result in other sites that carry rentals such as Realtor.com and Apartments.com to increase their exposure in the rental listing market
My response to Michael above should help explain the Zillow situation
We've been preaching this years....watch out...you give them your data for free, and then they sell it back to you.
We're all to blame for depending on 3rd parties.
We should develop our own better software.
You might want to in turn charge them fees to list their listings on your portal if you have a good one.
I've spoken with a lot of other property managers and landlords about this and none of them will be paying the $9.99/week to list rentals. Just my opinion, but I think Zillow is shooting themselves in the foot with this move. Their value has always been that they're a one-stop shop for any and all listings for the consumer. I agree with @Russell Brazil that this will probably just open up the market for their competitors.
If realtors really wanted to throw a punch, they should stop allowing Zillow to pull sales listings from the MLS unless Zillow agrees to also pull MLS rental listings. That would really have an impact on Zillow's value if they were to lose all the MLS sales listings.