Podcast: The Zillow Threat Is Real, Are You Paying Attention? | Tim and Julie Harris

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 24 September 2020

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Breaking news about Zillow becoming a national brokerage causes fear in the real estate industry. Zillow Homes, what we know:- Zillow is sending their ibuyer listings to their inhouse brokerages.- Zillow has clear aspirations to become a national brokerage.- Zillow Homes agents will be employees, salary.- Zillow is your competitor not your partner.- You are not Zillows customer. Consumers are. Who will this effect the most?- Agents with low skill on how to compete not just with Zillow but everyone. - Agents not associated with a broker who has an ibuyer. Ibuyers create a lot of potential seller interest. Most motivated sellers. In a hot sellers market...where there is a lot of equity sellers are willing to pay for convenience. (If equity drops you won't see people having the ability to sell for less than full retail or they are underwater.) 9 out of 10 (or higher) sellers reject ibuyer offers. Most are 75-80% of retail or LESS after inspection. Those become SELLER leads. The real opportunity here is with SELLER leads.- Agents who only know how to buy leads.- Brokerages who don't have their own ibuyer, national portal, licensed in all 50 states...and are truly focused on being a tech company for the sake of serving agents who serve the public.

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio, starring award-winning real estate coaches and number one
0:17.5	international bestselling authors, Tim and Julie Harris.
0:21.2	Real Estate Coaching Radio is the nation's number one daily radio show for realtors
0:25.9	who demand authentic real-time coaching.
0:29.1	Get ready for fluff-free, unfiltered, full-strength honesty about what's truly working
0:34.0	to get you into action, helping others others and making money now in today's real
0:38.6	estate market now to our hosts tim and julie harris three two one and we are back julie we are
0:48.6	going to be doing a special show today we're going to be usurping the uh would it be usurping or
0:53.4	it'd be interrupting?
0:59.7	Preempting? Preempting. We're preempting the show series that we're doing, the episodal series we're doing on the different kinds of fear. And we're going to be talking about something
1:03.9	we think that you guys are all showing a lot of fear of, which is. It's related. it's in the fear you know lineup yeah definitely is and that's the reason we're
1:12.8	choosing this is a topic today and it's going to be about zillow um and so there's a lot of uh you
1:18.0	know fear and consternation and loathing out there about zillows uh getting into the brokerage
1:23.1	industry and so what julia and i have done is we've spent a lot of time and research on this topic
1:27.2	and we're going to deep dive into um answering all your questions you know And so what Julie and I have done is we've spent a lot of time and research on this topic.
1:31.3	And we're going to deep dive into answering all your questions.
1:36.2	You know, we've been getting a lot of people sending us links to articles and whatnot about all this.
1:37.6	But I have news for all of you guys.
1:40.0	This has all been baked in for years.
1:44.5	Everything that Zillow is doing, everyone has known forever that they are going to do it.
1:47.7	So you don't judge somebody by what they say.
1:49.8	Here's sort of your takeaway from all this.
	...

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