Share
Share
Share
Share
Share
Share

My Favorite pages

 

What's this?remove

 
  • Sign in to use the “My Favorites” feature.
 

Connect with us on:

Dream Big!

Zillow Instant Offers Q&A: What you should know

 

June 19, 2017 – The National Association of Realtors® (NAR) says it has received many calls from local and state Realtor associations about Zillow's recent "Instant Offers" announcement. What is it? Why did Zillow roll out this new program? Does the Realtor association have an opinion?

Some, according to NAR, are "asking what NAR is doing about Zillow's new online investor sales program."

NAR first offers the following background information:

  • The Instant Offers program, announced in late May, is a pilot test limited to two markets, Orlando, Fla., and Las Vegas.
  • As a publicly traded company that has yet to show a profit, Zillow will always be experimenting with ways to generate revenue as it must placate its shareholders. The company was not created to protect the interests of real estate professionals.
  • NAR's mission has always been, and will remain focused on, Realtors' business success.
  • Many years ago, as part of that mission, NAR aligned itself with realtor.com to ensure that at least one portal available to consumers would recognize and promote the true value that our members bring to the real estate transaction.
  • NAR cannot sponsor or encourage a boycott of Zillow. It would be unlawful for NAR to discourage members from using any product or service provider. Those decisions are made independently by MLSs, brokers and agents.
  • Likewise, it would be unlawful for local or state Realtor associations to encourage members to withhold listings or business from any third party, such as Zillow, or adopt policies that would preclude members from doing so.
  • What NAR can do is the same thing it's always done in the face business models offered to consumers that sell homes without the use of a Realtor. It will undertake renewed efforts to remind the public, and to encourage and help members inform their clients and customers, of the value they bring to the real estate marketing and sales transaction. It will also continue to highlight the problems and risks sellers may encounter when trying to market and sell their home without using a Realtor.

NAR has encouraged local and state associations to share the following resources with members who have questions; it also encourages Realtors to review the information and share it:

Source: National Association of Realtors® (NAR)

© 2017 Florida Realtors

Related Topics: Florida Realtors Legal News