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Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
The past few weeks have been a whirlwind of opposing viewpoints, industry debates and portal reactions. Starting with squabbles over the Clear Cooperation Policy, the National Association of Reators rolled out its Delayed Marketing Exempt Listings, a tweak to CCP, followed by both Zillow and Redfin vowing to ignore listings that are marketed to the public prior to MLS submission.
EXp was included in Zillow’s initial statement, and NextHome subsequently aligned with them as well. CoStar had its own opposition take, while consumer watchdogs Stephen Brobeck and Wendy Gilch at the Consumer Policy Center praised Zillow’s ban and called on the Department of Justice to investigate private listing networks.
There’s no shortage of opinions coming at us from all sides, but we wanted to hear what you have to say, so we asked: What’s your hot take on the new Zillow and Redfin listing rules? Here’s what you had to say:
- Zillow and others are howling in pain because they can no longer take our hard-won listings and steal the leads and our profits. It is hard to sell leads to real estate agents when they don’t have immediate access. I say let’s tough it out and put those profit stealers out of business. Without us, they are nothing. Maybe this is some small way NAR is saying sorry for selling Realtor.com.
- Both companies are in business to make a profit. As long as they operate within the law, they should be able to do as they want. It is interesting that one group wants to limit who can see a listing versus letting all potential buyers see it. Makes you wonder why that is good for the seller. The other companies want to sell Realtors’ listings so other Realtors look like the listing agent, the person most familiar with the home, to the public, which thinks they are getting the listing agent.
- Zillow has been abusing the system from the beginning. Taking our listings and selling the contact to competing agents. Giving incorrect and incomplete information, including the misleading “Zestimates” that are inaccurate. Profiting off our hard work and now trying to control our business. NAR has allowed this because they have profited off it and have not protected their members. We pay a huge amount of money for NAR, and what have they done to protect and assist us?
- This is the end of Zillow. They do not own listings.
- I’m siding with Zillow, but neither of these companies is in it for the consumer. Only themselves.
- I am in favor of no non-Realtor site receiving an IDX feed. And any RE brokerage that creates its own private site for just its brokerages loses the IDX feed. We have given away any control over our industry. The public will be greatly damaged if Clear Cooperation is done away with, or these big national brokerages or even a state group of one company tries to double-side all of their listings in-house. The buyer pays the full commission in the price paid/listed, so all these lawsuits are bogus, and NAR shouldn’t have settled and forced the lawsuits away from a plaintiff-friendly court as high as needed to get a fair trial verdict. The “pause” is only good if it is limited for a few days, not unlimited.
- Zillow is dependent on the Realtor; the Realtor isn’t dependent on Zillow. That should say enough.
- Pro-transparency!
- First, let’s be clear that Zillow, Redfin, Homes.com, etc., are marketing websites and not primary “listing” systems. The MLSs are the primary listing systems for real estate professionals. MLSs should not be equated to these marketing websites. Doing so is like equating the MLS to your local newspaper classifieds. Licensed real estate professionals should continue to use MLSs to share property data with other licensed professionals. The MLSs should allow the professionals to carry out the instructions of their consumer clients regarding how their listing data should be distributed for marketing to consumers, including those marketing websites. Since Zillow and Redfin are licensed in many states, they also have access to MLSs as a “professional” and would have access to see all the listings in an MLS (as would any other professional member). Their access as an MLS “member” does not entitle or obligate them to display the MLS data without the consent of the “Member” who actually listed the property in the first place. All their proclamations about what they will or will not display must always be subject to what the “Member” who listed the property permits. This industry is a “self-interested” group that relies on the Consumer to earn our money (I’m one too as a real estate professional for 30 years). We need to stop tugging on the consumer to take sides and live up to our fiduciary duty (when it exists) to truly place their interest ahead of our own. I believe the professionals understand what that means.
- There seems to be a disconnect between the C-suite and agents in some brokerages. Among those executives coming out in favor of Zillow and Redfin’s actions, the strongest have many of their agents utilizing private listing networks, including those offered by MLSs. I see it every day when I am searching these networks and MRED’s PLN.
- Zillow has never truly been a company that operates with truth and transparency. Zillow’s business model and main revenue source has been taking real estate agent and brokers copyright/intellectual property, reselling that information back to agents, and bait and switch to consumers. This is an attempt to preserve their business model at the expense of seller choice.
- Agreed
- I am confused and would like their Zillow and Redfin rules to be explained to me.
- Our sellers want everyone to know their house is for sale.
- Strong-arming the people who allowed you to even “be” seems counterproductive and alienating.
- A win for customers
- Sellers should be able to choose whether or not their listing goes on the MLS immediately or not. Sometimes we have clients request that their listing not go live on the MLS until they’ve had time to stage it, make certain repairs, etc., but they want to go ahead and get it listed so that their agent can talk it up to the agents in their own office. The majority of the time, they want their listings to go live in the MLS as soon as possible, but they should be able to choose. Zillow, Redfin and others like them are trying to control the market with yet another one of their power plays, but ultimately, they’re not in control. Buyers and sellers are, and that’s the way it should remain.
- It’s a win for Zillow, it’s a win for brokers, and it’s a win for the consumer.
- Curious as to how Zillow or Redfin would actually monitor / track off-market listings, which would be required to administer “justice,” seems like an impossible task. Additionally, we (brokers) sign MLS data sharing agreements. Does that agreement permit a company to very selectively pick and choose what is displayed, which then presents a data integrity issue?
- Data is the new oil. To stay viable, the [NAR] must take back our listing data from the online portals that profit and give nothing back to the industry.
- Not a fan of pocket listings. I can only see one scenario where a seller would want a limited buyer pool — if they are famous. Every seller I work with wants ALL the buyers and ALL their offers. I’m all for anything that hinders pocket listings and restrictions regarding availability to all agents and all buyers.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
What did we miss? Please share your thoughts in the comments section below.
