Zillow Instant Offer...Have You Lost Any Potential Clients?!

[Foster Algier]

Zillow Instant Offer has been testing in the Orlando and Las Vegas markets for about 3 weeks. Have you come across any potential clients who were considering using their service? Have you been able to convince them to instead leverage your expertise to guide them with their property sale? What methods of customer retention working for you?!!

The National Association of Realtors® (NAR) 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.