On this episode of Real Talk, I invited Greg Schwartz over to shed some light on Zillow's Instant Offers.
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Real Talk is a show featuring the real estate industry's top movers and shakers to find out whats on their minds so that you are more informed and more empowered in order for you to stand out and become the expert in your marketplace.
I hope you got some helpful tips and new ideas from this video. To ensure you don't miss all my FREE training videos all you have to do is sign up here with your email: http://bit.ly/TomFerry-VideoTraining
Real Estate's Biggest Event: http://bit.ly/2t91z6c
Tom Ferry Coaching: http://bit.ly/2ufifc6
Tom Ferry Events: http://bit.ly/2t8Uz9w
Connect with me on my other social channels:
Website - http://TomFerry.com
Facebook - http://facebook.com/TomFerry
Twitter - http://twitter.com/TomFerry
YouTube - http://youtube.com/RealEstateTrainingTF
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Podcast - http://soundcloud.com/CoachTomFerry
How about in 2020 Zillow ? Lol
These two guys sound like a couple of fast-talking used-car salesmen; starting making me feel like I couldn't trust what they were saying..
Great for Zillow, they are changing the game! The consumer should always have a choice on how they want to sell and adapt to new ideas should it fit their situation. I feel real estate agents are over paid and really only care about the commission at the expense of the owner. There should be a flat fee regardless of price and maybe sell additional services a la carte should people want more as i know not all markets are the same but why should an agent make $10k-$30k + when the house sells itself yet the industry created this culture where an agent is needed to push the paper. I am an investor who also designs and flips homes that yes basically sell themselves yet I find myself having to pay $20K+ for an agent to email me the buyers questions or request in order for me to agree with the ROC and make the sale. If I have a means to do the same deal and keep more of my own money then I say lets do it. I don’t mean to offend anyone but when you dissect the current process you can see it is long overdue for an overhaul.
we were all excited about the Zillow search engine in the beginning. But the MLS became their means of getting the listings and to make money they sold zip codes to just a few realtors. So, a bait and switch and redirecting inquiries for a small few who paid large fees to get those calls. Bad bad. In an association with over 300 members only 28 are getting the calls for our primary zip. Click on Contact Agent goe to a list of those agents in a rotation list too bad the rest of the general membership.That is unfair and discrimation.
Tom is a shareholder in Zillow. 'Susan' could actually do better if she had a professional agent. And what is the non-negotiable fee that Zillow charges for this sale? 9%? +fees?
Zillow is a bunch of liars your a fool to listen to this guys bullshit! The founder of Expedia that put the travel agents out of business is the founder of Zillow. Then he says his goal is not to put agents out of business. You must be stupid. You idiots who fund Zillow every month are funding your own demise. 10 years from now you will be back in the breadline regretting every dollar you gave to them. Go talk to a taxi cab driver or a travel agent ask them how life is going now! A few years ago a taxi Medallion went for a million dollars now you can’t give that crap away its useless. A travel agency could be sold once built, who is in the market to but a travel agency? Any takers? I didn’t think so!
Pay to play is a COMPETITOR Greg not a PARTNER. Why would I pay Zillow for leads that I would get anyway if Zillow wasn't around… what is the real "value add" for an Agent with 21 years experience from Zillow? …. it's the 80's stock market corporate raiders all over again…market disruption and monopolies
for personal gain… is GREED GOOD GREG?
The fact that Realtors still are paid 5-6% when so much is done online and can be done by the owner today is ridiculous. Its about time tech has grown to a level that it can finally disrupt the industry in favor of consumers.
Sleeping with the Devil.
Thanks Tom for doing this episode.
We will not give you our listings, just taken out a few. Go get your own listings. We will make a agent review site!!! Don't need Zilliow premier agents!!!
Zillow just wants a bigger share of commission.
Why can't you offer the intant offers to agents not the home owners………………agents are spending big money on zillow.
Not feeling so exited about what zillow is doing. They are clearly cutting the agents out and encouraging the home owners to sell without any agent help. I agree with all the guys who are wondering, why Tom is happy about what Zillow is doing…………… 🙁
I think Amazon and facebook should start competing with Zillow.
The number one thing are not the customers. The number one thing is getting hits.
Lies, lies and more lies.
Wow…Does Tom realize it's agents that pay him? If Zillow gets their way Tom wont have any realtors to coach. Makes you wonder what kind of relationship he has with Zillow. Does he make more money in the Zillow Camp? I'm very disappointed in Tom Ferry. Can't back his message any longer.
Ok seriously,this guy sounds like Bill Gates trying to convince Steve Jobs that Microsoft was no threat to his business. "We don't want to be a brokerage",remember those words,fellow Realtors.
On instant offer site…I do t see one mention about real estate agent…I see connect with investor, inspector, closing agent?
Question I would like to ask anyone. Do you track your ROI on Zillow?
FYI, I use Realtor.com and my ROI in 2016 was 6.78.
What ROI results does any of you get from Zillow or other online mkting companies?
So does "world class" mean, agents who pay us a shit load of money. Get real.
Tom, love you dearly and follow a lot of what you say but you are asking us to Dance with the Devil by going with Zillow. They will keep expanding Instant Offers till we are all out of Business all the while using the data we feed them so they can wipe us out. Tom, please dump Zillow. Realtor.com is MUCH more agent oriented. As a Businessman I track my ROI. With Realtor.com my ROI was 6.78. (One Dollar in expenses, $6.78 in GCI). Zillow tells me it will take me about 6 months to get any kind of income. BTW Tom, how much does Zillow pay your company?
Hello Zillow,
I have had an account with Zillow since you first came out, my picture my information out there.
Here is a question, why are our responses from the public captured and sold back to us as leads?
Interesting…first comment is that a good agent asks the question about timing and price. A seller taking a haircut of what I expect to amount to up to 20% makes no sense. Investors are sophisticated and the seller availing themselves of 'Instant Offers' will have no representation, which always works against one when 'negotiating' with a sophisticated party.
RE: Zillow becoming a Broker
Why would Zillow want to take on the legal headaches of becoming a broker when they have others willing to pay them huge sums for marketing? I do see 'Instant Offers' as a way to glom onto more money, which I don't fault them for – but I do believe this is not in the best interest of many of those who will end up accepting an offer from one of the investors.
What you have to understand is Zillow is a huge Supporter of Tom Ferry…..you endorse people who pay you to endorse them. Zillow has created an amazing platform. You either choose to hop on board or not. Leaving your listings off zillow is doing a disservice to your client. Just need to be better as agents and stay in front of your sphere. Don't let this stop you in this business learn from it and grow!