PAULA'S SOUTHAMPTON BLOG

KILLING BROKERAGE--HOW LONG BEFORE ZILLOW SUCCEEDS

KILLING BROKERAGE--HOW LONG BEFORE ZILLOW SUCCEEDS???

The Headline says it all: Zillow Launches Instant Offers Pilot Program  

This is another way to allow sellers to list their homes and for buyers to buy them, resulting in a deal without having to pay a commission!! Sound familiar? I wrote a post several weeks back about another such Zillow link designed to side-step brokerages and to allow deals to get done without the "interference" of an agent:

MAKE ME MOVE...Another Way To Take Money Out of Your Pocket!!

Meanwhile, the push to get agents to pay Zillow for their own listings has heated up and here in the Hamptons now there are more and more agents buying into it just to survive. 

It is a major shakedown that Zillow is doing--like the mafia---making you pay for "Protection" of your own listings!!! By the way they now have THREE ways for owners to list their properties with Zillow so they can do direct deals--with no commission at all!

Unfortunately, informing our fellow agents has had very little if any impact--I have been blogging about this since 2007!! It is a fact that Zillow has a stated goal to put ALL brokerages out of business and they are well on their way to doing just that. 

A CONSERVATIVE GUESS OF THE IMPACT ON SOUTHAMPTON ALONE

Zillow just bought out our local MLS! So not only do they have the local brokerages GIVING their listings to Zillow, they are paying them a huge fee to do it!!! Ah, the absurdity!!!

It is not easy for an agent to stop paying them especially if they have been doing it for a while and it begins to appear that Zillow is the source of  their income!! However, Zillow is NOT doing what you think they are doing!

In just this one office here in Southampton, if 10 agents pay a conservative $1000 a month to Zillow  that is $10k a month---and since THEY MAKE YOU SIGN UP FOR AT LEAST 6 MONTHS that is $60,000!

Think about that! And then multiply that by 6 major offices here in Southampton alone, that is about $360,000 for 6 months from those who are paying them!!!---Multiply this figure by 7 (for the number of Hamlets here) and it looks like Zillow brings in approximately $2,520,000 every 6 months just in the Hamptons!!

I hear it is actually a conservative amount if you are paying them only $1000 a month. Realistically it is more like $2,000 a month per agent from those who have found out you NEED to pay that amount or more just to get valid leads!!! 

Add into the equation, the fact that we have well over 2000 agents on the East End of Long Island. The Hamptons is made up of 7 small hamlets and our business is made up of over 80% second home purchases...

THEY WILL PUT YOU OUT OF BUSINESS AND IN PERSONAL BANKRUPTCY IF YOU KEEP GOING BACK TO THE WELL! THERE ARE TOO MANY AGENTS AND NOT ENOUGH PROPERTIES TO MAKE A SIGNIFICANT AMOUNT OF MONEY! IT IS INSANITY TO KEEP PAYING THE SPECIOUS MONGER!!

 
 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~          

                                     **ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY.  The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate

 

Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate

Southamtpon Village Real Estate Specialist since 1995;  Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York

Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005

 

Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill:  http://www.elliman.com/paulahathaway

 http://www.hathawayhamptonhomes.com

MY REAL ESTATE SHOWS:

http://www.realestateshows.com/671362

http://www.realestateshows.com/671345

http://www.realestateshows.com/651587

http://www.realestateshows.com/flyer.php?id=654265

 

KILLING BROKERAGE--HOW LONG BEFORE ZILLOW SUCCEEDS
share
KILLING BROKERAGE--HOW LONG BEFORE ZILLOW SUCCEEDS??? The Headline says it all: Zillow Launches Instant Offers Pilot Program This is another way to allow sellers to list their homes and for buyers to buy them, resulting in a deal without having… more
"MAKE ME MOVE"---Another way to get money out of your…
share
"MAKE ME MOVE"---Another way to get money out of your pocket! This is Zillow's version of a "Pocket listing" We really need to be aware of the “Make Me Move” price feature that Zillow has on their website; it is a direct… more
DO YOU HAVE A LIFE GUIDE FOR SUCCESS??
share
DO YOU HAVE A LIFE GUIDE FOR SUCCESS?? "Today is the first day of your life as a SUCCESSFUL real estate agent. " Even though we think we know we are successful, until we really look at our situation and evaluate it in truth, it is very… more
WHAT ARE YOU FINDING IN YOUR LUXURY MARKETS… SLOW, PICKING UP OR…
share
WHAT ARE YOU FINDING IN YOUR LUXURY MARKETS… SLOW, PICKING UP OR DEAD? With the push and pull of the various financial market trends it is hard to get a bead on just what the real estate market in the Hamptons will be doing in the next quarter---or… more
"WHAT IS YOUR INTENT? " Something to think about for 2017
share
"WHAT IS YOUR INTENT? " Something To Think About For 2017 "DON'T PAINT SOMEONE WITH A BROAD BRUSH UNTIL YOU KNOW THEIR INTENTION!! " I was watching an opinion piece on TV about how the media is examining the use of the word "… more
THE FALL FROM GRACE
share
THE FALL FROM GRACE Somewhere between the early years of the real estate business and today, the once well respected and even admired real estate agent has fallen from grace. Somehow our profession has hit the bottom of the scale measuring the most… more
DO YOU HAVE A "GO TO" GUIDE FOR YOUR REAL ESTATE ISSUES??
share
DO YOU HAVE A "GO TO" GUIDE FOR YOUR REAL ESTATE ISSUES?? When I have a problem with my business I sometimes have to get outside help Outside help is NOT easy to find. I don't like to burden my family and friends with these issues--they… more
WHAT DO YOU THINK 2017 WILL BRING FOR REAL ESTATE??
share
WHAT DO YOU THINK 2017 WILL BRING FOR REAL ESTATE?? Have you been busy this Fall/winter? I have, and I hear we have another record setting quarter for 2016. Following the 1st and 2nd quarter's record sales, it is hard to believe that we will have… more
A REAL ESTATE EVOLUTION OR REVOLUTION??
share
A REAL ESTATE EVOLUTION OR REVOLUTION?? When I started out in real estate 20 years ago, there were some of the most professional agents in the business. At least that is the way it appeared to me at the time. I started out in New York City which… more
THE ILLUSIVE BUYER…
share
THE ILLUSIVE BUYER… I don't know about you but I am finding that the whole real estate market has changed in the last year or so. Not just the attitude of buyers and sellers but the whole way of doing business has changed. It is like the Jeanie is… more