Zillow and Redfin , what the heck you are working on? How come you are letting real estate agents steal 6% ?
Zillow and Redfin , why are you still letting real estate agents steal 6% from seller’s hard earned money for doing nothing. With Redfin and Zillow listings , agents really don’t add any value in a home sale. With avg property selling at 2M in the Bay Area . Agents are running away with $120k for 1 day worth of work. You really need to up your game and remove these middlemen #housing #solvethesteal
It’s a bit of racketeering. Most buyers have agents and they simply wouldn’t show properties without 3% commission.
Many are now offering 2-2.5%. Market already changing.
Any Zillow and Redfin product managers on Blind? Can you build a product to solve this steal ?
What would your solution be? Every property and deal is unique which is why you need custom support. You can be your own agent if you want but it takes 40+ hours a week for at least a few years to learn a market and most people simply don't have the time so they use an agent. Not sure why people think agents are not incredibly valuable. I wouldn't have been able to buy most of my property without an agent because redfin and zillow didn't even know the houses were going to be listed...
These 2 companies do not own any data. They get from realtor.com and they in turn from MLS owned by real estate agents. You need many legislations to bypass agents and their hold
Don't write about something you know nothing about. )))
What's that? Check your data source
Nobody is forced to use the MLS. Sellers can do “For Sale By Owner” and set whatever commission they want (I’ll let you guess why the majority don’t do this). Do Zillow and Redfin support “For Sale By Owner” properties? If not, why not?
There are companies who post on the MLS for you so it shows up as a normal listing. Cost me $500. Well worth saving 3%.
Cool, I didn’t know this was an option.
Try selling FSBO and see how long it takes
Yes it is because of the nexus created by real estate agents and we need tech companies to solve it. Remember taxi permit thing before Uber?
Took me 3 weeks. Got 3 offers. Ask and over ask. Slower market too. The only part I paid for is posting on MLS ($500). Scheduled showings myself. Didn’t even need an open house.
NAR owns three largest market place, MLS and you have to pay by their rules to connect to them. Zillow, Redfin and others have been trying for years and they eventually fall in line. It is a racket.
There are tons of companies now who offer broker services for 1% or who just offer to post on MLS for a small fee if you do FSBO. Look up Clever, Hauseit, Upnest, Unlocked etc. Redfin also offers a lower commission broker…they’re not the best, just most known. And you don’t need to offer 3% when selling. 2-2.5% is pretty normal nowadays. I did all of this to both buy and sell this year.
Lobby power
Redfin is also as much crap. Their agents are scumbags cheating buyers..
Agree - it’s stupid