It is Zillow and their high-spending agents vs. everyone else now.
Zillow has a strategy to help accelerate the real estate industry’s evolution to the survival of the fittest. Zillow is looking to help the best real estate agents — the ones who can best capitalize on the leads that Zillow generates and will therefore pay the highest ad prices — to extend their domination.
“We are accelerating the broader trend across the real estate agent population of higher-producing agents gaining market share from those who are less productive,” Chief Executive Spencer Rascoff said on a November conference call with analysts.
The number of agents advertising on Zillow declined modestly in the third quarter to 89,147, but that was part of a planned shakeout. At the same time, the number of advertisers spending at least $5,000 per month rose 79% from a year ago, while average spending per agent rose 46%.
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Do you advertise on zillow ?
Yes and I pay to be a Premier Agent which satisfies everyone’s concern.
I would advertise my listings on Zillow even if I wasn’t a Premier Agent, because it is what’s best for my seller – max exposure.
The agents against Zillow either complain about accuracy, which is lame because anyone can help make it more accurate, or that the inquiries should come back to the listing agent, and not tempt buyers to call the three-headed monster. BTW, most buyers don’t know or care if they are calling someone who isn’t the listing agent, they just want some info.
So as a Premier Agent, the inquiries come to me only – I don’t have other agents pictured on my listings. An agent has to pay for that right because Zillow built and operates the superior website. If there was a NAR website or realtor.com was ours and was advertised properly to become the only real estate website of choice, then agents could have created our own destiny. But the industry sold out a long time ago, and allowed outsiders to kick our butts.
It’s a mess now though, because the future is in Zillow’s hands. They have to power to dictate how it turns out, unless big money says otherwise.