If Zillow thought that the industry would thank them for reworking the Open Door model to involve agents in the process of Instant Offers, they underestimated what Rob likes to call Zillow Fever, the intense dislike so many in real estate have toward the company.

Today Rob and Greg are engaged in a rousing conversation about the rollout of the Instant Offers test program and subsequent uproar. They work through the source of the industry’s angst toward Zillow and whether or not it is warranted in this particular case.

Listen in as Rob and Greg discuss the arguments against Instant Offers, how the feature might lend itself to predatory behavior by investors, and how Zillow might have changed their messaging to avoid the blowback. 

What’s Discussed: 

The firestorm created by Zillow’s Instant Offers test program

Greg’s take on how a different naming convention would have tempered agent reaction

How the Instant Offers feature works

• Response to consumers looking for easier ways to sell
• Hand-picked 15 private investors
• Seller can accept investor offer and sell directly, accept offer and use agent to complete transaction, or reject offer and move forward with agent to list on MLS

The weaknesses of the argument that Zillow is duping consumers

The hypocrisy/lack of awareness of agents criticizing Instant Offers

How agents can use Instant Offer as a tool to generate seller leads

The importance of establishing a sphere of communication

The vast number of tools available to help agents stay in touch with past clients

Instant Offers as a potential avenue for predatory investor behavior

• Bad actors might target the poor, uneducated
• May require government to step in with regulations

Rob’s problem with the premise that consumers cannot make best decision for themselves based on circumstances

The potential monster success of the Instant Offers feature

The flaws in the argument that Zillow is trying to come between the agent and the homeowner

The way Zillow priorities the consumer over the agent

Whether Zillow has given up on trying to make people happy or if they were caught off guard by the negative reaction to Instant Offers

How other big web operators might respond to this innovation

 

Resources:

Greg Schwartz ‘We Come in Peace’

 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

 

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