Is it Worth the Cost of Being a Premier Agent on Zillow?

[Christopher Rogers]

Hi All,

I was cruising the internet and downloaded a free guide on "how to hold a successful open house" provided by Zillow.  Shortly thereafter I received a call from Zillow asking if I would want to become a Premier Agent.  After talking to the sales rep, he explained that there are only so many zip codes that are actually still available for premier agents.  I guess there are only so many "slots" or agents they allow for any given area.  

This scenario sounds like it could be a great way to market myself, as many prospective buyers search Zillow. However, it also sounded like a sales pitch. So, I'm calling to all of you: savvy investors and seasoned brokers/agents. Is this a good opportunity to build my leads, get to network with potential buyers, meet potential investors, and close deals? Or is this simply a sales pitch from a company? Since there are only so many agents allowed in each area, are the remaining areas unfavorable in regards to ROI for the purchase of the Premier Agent subscription? I.e. Monrovia, CA is unavailable. But Baldwin Park and Azusa, CA are still available. Full disclosure: I frequent each city I mentioned, but my concern stems from the fact that some cities are not available and others are.

Thanks,

Chris 

[Linval T.]

@Christopher Rogers

Below, is the BP link to past responses on this topic.

https://www.biggerpockets.com/forums/21/topics/245...

[Jake Thomas]

@Christopher Rogers Unless you are already very successful I would save your money. Keep your Zillow profile up to date with closed houses and get reviews from clients but I would not invest in that sort of marketing now. I personally think any type of marketing for a new agent is worthless until you are decently established. Most newbies don't have the money to sustain the length of campaigns needed to obtain results. Pound the pavement and hustle. Word of mouth is the best type of marketing you can do. I found one lead from a phone call on craigslist which turned into me selling their house, helping them buy a new one then referred me to his mother which I also sold and helped buy a new house. Then she referred me to another person... One phone call led to 5 transaction. Let me know how many Zillow gets you. 

[David Hunter]

Wasn't worth it for us when we did it.

Save your money from Zillow and start farming those areas for listings via direct mail. 

[Christopher Rogers]

Thank you for the link and the feedback.  Just to follow up, I did in fact become a Premier Agent.  After heeding your warnings, reading many reviews, watching you tube videos, and reviewing the services to be provided, it seemed like a viable option for me.  

Is it a good service?  I don't know.  What I do know is it does provide some leads in a passive capacity; which is good for my current situation. If nothing else, it will give me the practice a newbie like me needs to converse with leads.  Even if they are bad leads.  It'll be interesting to see how this works out.  All that in mind this is just one facet of my marketing.  I like David's suggestion about farming direct mail.  I'll be sure to do that and other techniques discussed here at BP...  I'll also be sure to revisit this post in 6 months time or so to share with the community my experience as a Premier agent.  Wish me luck!

[JOAN DICKIE]

Good Luck!!!

Just remember to have a great follow up system for the leads that you get.  Not all the leads are going to need you right away.  Some are a year or so out.  I've heard the greatest success people have had are the ones who have the best systems for keeping in touch.

[Russell Brazil]

I dont think it would even be worth it if Zillow paid you.  Zillow "leads" are time wasters, thus its not even worth dealing with unless Zillow paid you enough for your time.

[Neil G.]

I dont know what kid of agent I am with them, but they debit my card $10/mo

What level is that? I would assume basic/starter or whatever!

[Christopher Rogers]

Haha!  That is hilarious @Russell Brazil!  It would be so great if Zillow would pay the agent.  I know Redfin is free when becoming a partner agent.  Which is great, but they take 30% of the commission; 15% for themselves, and 15% back to the client.  Or 30% to Redfin if the transaction is in a state that doesn't allow the 15% back to the client.  I didn't qualify because I don't have at least 15 transactions under my belt. =/ But I plan on re-applying once I do have that experience.  Some may argue it's a steep commission cut, but the way I look at it: I wouldn't have had that lead if it wasn't for them providing it in the first place... Food for thought...  

@Neil G. I'm not sure what service Zillow is providing you.  What I have purchased is what they refer to as Impressions.  Which means the amount of times I would pop up when someone is viewing an individual property in the zip code I purchased.  I purchased impressions in the Rancho Cucamonga zip code.  So, the hope is that someone interested in purchasing a home would choose me as the agent to represent them.  This cost 20X the $10/month you're paying.  And the cost is much higher in other areas.  I.e. I was quoted $831/month for 10,300 impressions for Chino Hills, CA.  Yikes!

I am in no way promoting Zillow.  In fact, as you read through the other replies, you'll see that most other BP Members are saying it's worthless.  So proceed with caution if you do purchase advertising from them.  The reason I did it is because it provides "cold online leads."  It's simply meant to be a passive way to obtain leads.  Nothing more nothing less.  

[Neil G.]

is it possible to change zip codes? i've read conflicting reports that seem to suggest one cannot change the zip code they 'purchased'

ps- im currently relocating between states!

[Christopher Rogers]

Unfortunately not, my friend.  Once you buy a zip code, that's what you're stuck with since it can't be transferred.