Zillow Announced It May Blackball Some Listings
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| Welcome to my weekly newsletter featuring a personal note on the ever-evolving world of real estate along with a few news-worthy updates. Enjoy! |
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| SHOULD YOU CARE WHAT ZILLOW DOES? |
| | Recently Zillow announced that it may "blackball" a listing if it has been marketed publicly for more than one day before going into the MLS.
As you may or may not know, Zillow's business model differs from that of a real estate brokerage. Zillow's business is to generate buyer leads from property postings, which they sell to other agents willing to pay for them. When your listing is posted on Zillow, it doesn't include your listing agent's name on the listing but rather someone else altogether. In other words, Zillow doesn't facilitate a connection to the person who actually knows the home, who has won your business, and who has paid for all the photography and content.
Does Zillow's threat matter to you as a Seller? A few things to consider:
While the Zillows of the world get many eyeballs, statistically, they do not get many actual buyers. How will Zillow determine that a listing has been marketed before going in the MLS? Are they monitoring the phone calls and emails of agents who may be working diligently to market a home privately per a Seller's request? Can Zillow continue to prosper by banning as much as 30% of the listing content from their website? Approximately 90% of homes are sold with the involvement of an agent, higher for those homes valued at over $3 million... So while scrolling Zestimates may be a fun way to kill time, whether it actually impacts a decision to buy or sell is another matter.
My own view? A Seller has the right to market their home as they wish. If that includes marketing pre-MLS, I'm afraid the proven advantage of doing so outweighs the possibility of Zillow's petulance. |
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| Listing of the week spotlight on CORAL GABLES, FL |
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| | 6 BD 8 BA 5,434 SF $8,750,000 |
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| | | CEO median pay rose 9.5% in 2024, more than triple the rate of inflation: The highest-paid CEO of 2024 was James Anderson, the newly appointed CEO of Coherent, a technology company based in Saxonburg, Pa., that makes equipment and products for networking and laser systems..... $101.5 million in salary, stock and bonuses. (BARRONS) Gen Z’s ages range from 15 - 30 and represent 47% of recent U.S. renters, and comprise 25% of all U.S. renters. (WSJ) Economists see a rise in freight rates, port congestion, and supply chain inefficiency as a result of US reciprocal tariffs and USTR port fees.... Is this moment akin to February 2020? Retailers have about 5-7 weeks of full inventories left.... shipments from China into US ports have plummeted. (CNBC) Gas prices could come down in time for Summer travel season and offset potentially higher prices from tariffed imported goods/transportation costs... OPEC just announced production increases after cutting production severely during COVID that combined with soaring global economies and the Russia-Ukraine war spiked oil prices. Oil prices are down almost 22% since January 1st! (CNBC)
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| | | | | Celebrate Mother's Day with afternoon tea at the Mount Vernon Inn Restaurant. Seatings for tea are offered on May 8 and 10 from 11 a.m. to 4 p.m. Seatings for tea on May 10 are sold out. $70 per person. Includes one glass of champagne and one 3-tier platter for every two guests. Visit the Mount Vernon Website for details and tickets. |
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| Lee Arrowood
Principal, Arrowood Advisory at Compass M: 202.251.3175 O: 202.448.9002 lee.arrowood@compass.com |
| +$173M Sold In 2023 #3 Team Lead 2022 |
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Office: 301-298-1001 Compass Real Estate is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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