At the 2019 Tom Ferry Team + event in New York, Susan Daimler, SVP of Zillow Premier Agent, spoke with us about the state of Zillow.
In her words, “Zillow is in 2.0 phase.”
As Zillow continues to race forward, she filled us in on what Zillow is already accomplishing and where the company plans to go.
A new phase for Zillow
Zillow is entering a new phase as they launch Zillow Flex, which is currently available in four counties in the country. In addition, Zillow Offers is now in 19 cities. With Zillow Offers, sellers fill out an online form with photos of their home. Within a few days, Zillow will send a cash offer for eligible properties. Sellers then have three choices: accept the offer, decline the offer, or work with an agent.
Zillow is already top of mind for buyers who are searching for a home, and because of this they can collect data and get buyer leads. Zillow is now an option for sellers as well.
Zillow has Won
If you are still in the mindset of fighting against Zillow, let me say this:
It’s over. Zillow has won.
How do I know this? It’s not based on their stock, or whether or not I want to pay Zillow referral fees.
It’s because there is not one real estate brokerage, agent, site, or portal that is close to Zillow in these two areas:
Zillow gets 180 million visitors a month to Zillow sites.
There is a request for a Zillow Offer every 1.25 seconds.
Let me reiterate that last point: in just 19 cities, Zillow is already generating requests for offers every 1.25 seconds. Even though they are buying less than 3% of those homes, they are obtaining the one thing every iBuyer platform and brokerage is after: data.
This means they are not only generating buyer leads for their agents, but listing leads as well.
Just because Zillow is at the top of the industry doesn’t mean it’s over for agents. I actually think it is the most exciting time to be in real estate. So what can you, as an agent, do?
Build your Brand
No surprise here – your brand is the one thing you have complete control over in this ever-changing industry. Building and strengthening your brand should continue to be your number one priority.
At a local level, it’s more important than ever to build your brand, produce content, and become a face and name that people in your community recognize. Consistent video, audio, and written content across all platforms, combined with tried-and-true prospecting strategies will help you to establish trust and create a recognizable voice in your community.
With a brand that stands out, Zillow, along with other lead sources, will request to partner with you. And while the referrals and fees may change throughout the years, your brand is what will remain steady.
Partner with Zillow
Focusing on your brand doesn’t mean you need to go at it alone. Work with Zillow to get leads. No matter what your demographic is, Zillow will soon be taking over, being the go-to place for real estate the way Google is the go-to for web searches. Both buyers and sellers will be utilizing Zillow, which gives them more information, more data, and more leads to share.
Are you ready for Zillow 2.0?
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