Is Zillow About The Be YOUR Biggest Competitor

Automatic TRANSCRIPT

Three to one. And we're actually. It is january the twenty ninth and we have a podcast today which is discussing bombo bump ball so all the changes that they're doing a lot of chatter online about this. There is a lot of chatter online and We're going to do our best to clarify and go through the specifics of what is happening. Now with zillow and essentially then becoming a national real estate brokerage and being your primary competitor and a lot of your markets and all the little things are going to be a essentially. Try to get in between you and your customers. We've been warning you guys about this forever and here's really the bottom line. If you're one of the agents that's been feeding your competitor is zillow as they've been essentially spending up to become a you know a broker down the street. That's going to try to take your business well in you didn't listen. You kept on spending money with them. Because you were didn't know how to generate your own byerly it's while you're gonna unfortunately probably suffered the worst because what we're saying this again. What we've been telling you guys about for years now is zo. Inevitably was going to get in the brokerage business. They had to continue just show value to their shareholders. There's only so many different parallels they could be getting into in the selling agent space selling agent leads space and of course they're going to get to the brokerage business and when they pivoted aggressively towards the buyer space jillian. I said straight up you past. Podcast there is zero chance. They're not gonna be getting into the real estate brokerage business because we knew and you guys should hopefully know by now that one of the primary benefits of the airspace as it turns off a lot of it creates a lot of Seller leads in those seller leads. Then you run an ad for an eye buyer type situation where seller can wholesaler house or sell it at a discount convenience fee as jillian coined it to sell the house without the normal. You know. let's be honest. Hassles of retailing. A house unless sellers are gonna be willing to do that. They had the cash flow and they can maybe leave a couple twenty grand or thirty grand on the table and not have to deal with all the you know the showings and the conditioning of the house. And all that. Yeah a lot of people are gonna be willing to pay that and you should not be surprised because very rarely despite what you might think very rarely is the most important thing to the seller. The price mo- sellers most everyone you included. Listeners are more focused on essentially stress-free convenience hassle free. And you're gonna be more than willing to pay for that. And that's what these i- buyers represent to consumers but our focus has always been agents brokerage the actual real estate industry boots on the ground entrepreneurs of you folks so we've been warning you that it's inevitable that zillow was going to get into the brokerage business and of course they are now in the brokerage business and they're going to be coming to a hypothetical street corner either real or virtual near you sometime soon. It's going to be called zillow homes. This is not made up. This is not speculative it will be zillow homes right and so what is the advantage that zola has in the marketplace huge advantage. Many places in the country people were often refer to searching for a house on line. they don't even say searching their replaced it with the words zillow ing going to zillow zillow has created a really relatively short period of time a stellar brand and from a consumer perspective their interface. And let's give credit where credit is due. They have become a very very effective company. That's servicing consumers right so the consumer interface on their app and their phone is vastly superior to anything else. That's out there including realtor dot com. And you know we can bemoan history. Oh we want to but the reality of it is that is what it is so now that zillow is officially in the brokerage business. And they're going to be competing with you. I want to be very clear case. We have not been clear about this before one of the main benefits of running an eye by our program from a lead generation perspective is. You're going to get a lot of sellers that would consider the buyer be willing to pay the convenience fee then decide not to decide to retail the house. Now a lot of you are aware again. Hopefully you are aware because you've been listening to us. That zillow is then going to be feeding those resale leads to their in-house agents and then they're going to be listing those resales in some markets. They're still selling those leads to agents at like a ridiculous referral th-they but that's going to be ending soon. So what you're going to be looking at is the sea change in the way essentially zillow interacts with you. Because they're taking the gloves off and you're going to see they've had dig gnarly fists hiding underneath those nice little velvet gloves for over fourteen years now and you've just not even wanted to realize it. Now why did you have realized that you just didn't care because you didn't know of any other way to generate your own business because you didn't know how to generate listing leads zillow's achilles heel has always been that they have to essentially piece the real estate industry because at the time they weren't a real estate brokerage and they had then they had like i think was julie fiber hundred or thousand remember individual relationships with individual brokerages to get their individual listings fees. So zora had to go out to the marketplace and go directly to brokers and sort of bypass the whole system so they can have listings on their site but that was a competitive disadvantage them because realtor dot com always had the newest listings. 'cause realtor dot com obviously was plugged into all the molasses. Guys understand

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