All Forum Posts by: Jay Thompson

Former Zillow employee here. 
You need to report the listing to Zillow. Instructions are here

Hi Corey -

Full disclosure, I'm a consultant on a part-time contract with Pacaso.

You are partly correct! Pacaso does offer co-ownership of second homes. Ownership is structured through a fully managed LLC, with the co-owners as managing partners in the LLC. Homes are typically available in 1/8 to 1/2 ownership (in 1/8 increments). It really depends on the home on its operating agreement as to how many "shares" are available. For example, some Pacasos may have two co-owners at 50/50. Or eight with a 1/8 share. Four with 1/4 shares, one with 1/2 along with four with 1/8, etc.

Pacasos are all single-family residential homes, in areas with demand for second homes. Typically not the highest-end luxury homes, but are usually 3 - 4 times the local median home value. Shares can not be rented, AirBNB'd, etc. They are intended for owner's use (though owner guests are allowed.) Shares can be sold on the open market (there is a 1 year commitment so they can't really be "flipped"), and Pacaso works with local agent experts on both the buy and sell side. 

Pacaso does not own the properties, though they may start off purchasing a half share along with another co-owner with half. Pacaso would then sell off their 50% to other individual owners. Their intent is not long-term ownership of these properties by Pacaso. 

There's a lot more to it of course, but that's the gist of it. More info can be found at https://www.pacaso.com/learn and there is a pretty detailed FAQ at https://www.pacaso.com/faq. I'm happy to answer (or get answers) for any questions you or others may have. 

JayT 

Granted as a Zillow Group employee, I'm a bit biased. But, Zillow Groups' sites that display rentals (Zillow, Trulia and Hotpads) and our "networked" sites like Yahoo!, AOL Real Estate, MSN Real Estate and HGTV's FrontDoor makes it the largest rental network on the web.

CraigsList also has a large reach, but my personal and professional experience with them as a broker and property manager prior to joining Zillow was not the best. Lots of spam, and inquiries generally seemed to come from lesser qualified tenants. In fairness to CL, that was a couple of years ago and they've made some changes to property displays that may hve reduced the spam and increased the contact quality.

Jay T from Zillow Group here. In most states, sale prices are public record, and can't be removed. In "non-disclosure" states where sale prices are not part of the public record, we don't display past sale prices. 

Jay T from Zillow Group here. You're missing a significant portion of the story. Zillow has plenty of agreements in places with MLSs for direct feeds and are signing more up every day. We've got multiple sources for listings other than ListHub including over 5,000 partners that send direct feeds from brokerages and franchises. 

You could set up an alert and be emailed when someone changes their "Make Me Move" price. Generally speaking, if a home owner is actively "working" their MMM listing, they may be more serious than one who just plugs in some random value and never looks back.

I've spoken to many agents that have sold MMM "listings". It does happen. 

Every property listing page on Zillow has a unique parcel number tied to it -- ie: there's one listing page per address. There's no way to have multiple properties displayed on a single listing page. You could put a note in the property descriptions indicating there are two properties for sale (and link to the other property).

Jay T. from Zillow here. 

I wouldn't say there are "many" brokerages or MLS pulling data feeds. There are a handful. And there are FAR more joining the Zillow Pro for Brokers program (sending direct feeds to Zillow). There are currently over 2,000 partners in that program, with many representing multiple brokerages.

Just a little perspective... 

And of course we have mitigation in place for the few that do pull listings. Many individual brokerages start sending direct feeds when their MLS's pull listings.

How long ago did you change the status in Postlets? It can take a few hours for the listing on Zillow to "catch up" and change status there.

If it's been more than say three hours, you can email the property address to [email protected]

There is actually quite a bit of difference between what's on your typical MLS and what you will find on publicly accessible sites such as Zillow and Trulia. Even what Redfin (a brokerage site -- Zillow and Trulia are not brokerages) displays is different than the MLS. Sites like Zillow and IDX based sites like Redfin all display a smaller subset of data than an MLS has. There were about 50 data fields that had to be completed to enter a home on my MLS and public sites typically display half of that, at best.

Some MLS only data is private\confidential -- like gate codes, owner contact info and showing instructions. Other is just more granular data of what you'll see displayed on public sites. For example, within the MLS I could search for 3 bedroom 2 bath homes that have a block fence, have had the roof replaced since 2007 and have a bidet in the master bath and laundry hookups in the garage. And I can filter that by areas with home owner association fees of less than $X.

Then there is the whole localized MLS rules thing. Some areas prohibit the public display of sales data. So in restrictive non-disclosure states, sometimes the only way to get data on past sales prices, type, financing etc is via the MLS.