Recently we posted an article about Zillow’s new Instant Offers program that seemingly gives sellers a way to quickly sell their property to investors via their platform. Well, since then over 32k real estate agents from around the country have signed an online petition opposing programs like Zillow’s. The program is currently in a pilot mode and only offered in Orlando and Las Vegas and Zillow wouldn’t say if it plans to expand it. The Orlando Sentinel recently reported on the matter and spoke with the petition organizer as well as reaching out to the NAR and Zillow.
“This is going to sucker home sellers into making a mistake that is going to cost them an education for their kids, an amazing family vacation or just sleeping better at night because they have more money in their bank account,” said Hague, a lawyer and real estate broker in Arizona. “And to do it all without the advice of a Realtor or appraiser or anyone — that’s the bottom line.” Said Petition organizer Greg Hague.
In June, the National Association of Realtors stated it could not “sponsor or encourage a boycott of Zillow.” The group went on to state that it would be unlawful to discourage members from using any product or service provider and that real estate associations in general could not try to withhold listings from Zillow.