Why No one is calling me up to ask what I think
The real estate industry went through an earthquake a month ago since Zillow group announced on their instant offer. Thousands of frustrated real estate agents signed a “Stop Zillow” petition.
Can real estate agents stop Zillow? Can NAR stop Zillow? Who really can stop Zillow?
What seems to be missing is that, it isn't a Zillow issue. There is a board of directors who makes all the decisions on behalf of Realtor associations. Did anyone from NAR or and from the MLS call up the agents to ask what they think? NO! But these associations forcing agents to join because they need your membership money.
NAR IS NOT YOUR FRIEND
Many naive real estate agents who think that NAR will come to their help to stop Zillow, live in a fantasy world. NAR will not stop Zillow.
All NAR can and will do, is to look from the side how its own paid members are fighting this Battle by themselves. Yes, real estate agents left alone in the battle filed to fight for their future.
MLS FEED OR A JOKE
The MLSs are feeding Zillow with Listings. The funny thing is, the same listings posted on many different sites, but in each site, there is a different information on the subject property. Are we running a circus or a professional industry? Why agents have no control on their listings? It takes 5 min to manually upload a listing and to have control on your listing. Who invented this lazy approach that is giving the wrong information including estimates, wrong pictures and misleading the consumer. Yes, the MLSs agree to open a circus to make millions on the back of hard working agents and really do not give a dam on the consumer.
Zestimate & Brokerage Websites
Many in the industry are complaining on the Zestimate. But let’s be fair. A site like Redfin who is carrying a broker license has its own estimate on each property. Re/Max who is carrying a broker license, has its own estimate. Realtor.com has its own estimate, Homes.com has its own estimate, Movoto has its own estimate, Compass has its own estimate and many other sites have their own estimates. We ran a test to see how the circus in our industry works. We took an address of one of our employee’s home and goggled it. These estimates are for the same house.
Here are the results:
Now, put yourselves in the consumer shoes, what would you think? Which number is the correct number? Who from all those websites visited in person the subject property?
This is what the consumer think of our industry, a circus of nonprofessionals who only care to open doors and to make 6% commission. The problem is that the agents are the face of the industry and they are losing their value in the eyes of the consumer. Not only the Zestimate should be eliminated, also the rest of them should!
THERE IS A SOLUTION FOR EVERYTHING
The one thing we do not have a solution for is to death, for the rest of things there is always a solution. But, it seems that no one in the top really wants to bring a solution to the mess. In the current situation, the agents who are the face of the industry are the ones who are getting all the complaints from the consumer. Real estate agents are losing their value because of the people who sits on the top who decided that, ethics are not so important but money is the most important.
The system in the real estate industry is a mess for real estate agents, but works great for those who sits on the top. They formulated a great system, who is making millions for them. The ones who are suffering the most, are the real estate agents who are paying for that mess and now find themselves left alone in this battle fighting against many who want to eliminate them from the transaction. Real estate agents need to stop paying NAR. NAR will not step in to defend them. NAR is the problem not Zillow. Real estate brokerages who complains against the Zestimate, should first remove their own estimates they have on their websites.
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