Zillow’s Premier Broker concierge services

“We receive listing and buyer referrals directly from Zillow’s Premier Broker concierge services. These leads have been scrubbed and vetted before they are directly handed off to you.” Source: Sonoma County RE/MAX Marketplace, Zillow Premier Broker participant.

Nothing says consumer focus like being “scrubbed, vetted and handed off” to a random broker willing to pay 25%-40% referral fees. Zillow Group still declines to state the exact broker-to-broker referral fees amounts it collects since it began to do so in September 2018, nor does it disclose a real estate license number on its index page.

Zillow Offers is effectively sold on a 1% success rate of something entirely different.

The Big Question is why choose to pay some middle-man broker $10 Billion in commission kickbacks in the middle of a housing affordability crisis?

This is the real dilemma for all real estate market participants in 2019. The industry is now deeply divided — competitive tendencies vs consumers being “sold as leads.”

I see it as the beginning of end in pay-to-play broker mentality simply because nobody wants to be “sold,” “scrubbed,” or “vetted” when buying or selling the largest asset and a symbol of prosperity — our home.

Author: Litesand

Antitrust, real estate, e-commerce, fintech, proptech, bigtech

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