In the real estate industry, the realtors or the real estate agents play a key role in the transactions between a seller and buyer. These professionals work hard in the field and make money from both the parties to earn their living. In most of the countries, these professionals are certified by the appropriate authority and make their earnings in a legitimate way in the real estate market. This practice has been followed even by many agents as freelancers as the real estate industry still seems to be an unorganized sector, especially in the secondary market. Things were going smoothly with these realtors till the arrival the firm Zillow Group, which has entered into the real estate market as a database company in the real estate sector. In the recent times, with the introduction of “Instant Offers”, from Zillow has become a threat to these realtors as this firm has started interacting with the buyers and sellers directly and finish the transaction by introducing the investors who have tons of money. Hence the realtor’s forums have now come forward in making The Plan To Save Real Estate sector from the clutches of Zillow’s new technique the “Instant Offers”. Interested readers can also browse the website www.business2community.com to know more the operations of Zillow in the real estate market.
According to the realtors, the action of Zillow will not only affect their incomes but also can create an impact on the homeowners who are sure to suffer a great equity loss when their homes are sold at much-discounted prices. Though Zillow which was launched its operations in 2006 as an online database firm, is here to stay for a long time, it faces a crisis with the intrusion of real estate agents both organized and unorganized. According to the experts, this tussle between Zillow and the realtors should be stopped and recommend some amicable settlement between them.
With the introduction of several programs by Zillow, most of the realtors experience a great threat to their survival. These professionals accuse Zillow of not fulfilling its promises of not competing with these agents when the new program was introduced. Many of these agents says that the programs from Zillow will surely cost the homeowners millions in the form of equity. To make the matter worse, over twenty thousand realtors have signed and submitted an online petition in the recent times. These professionals demand Zillow stop all the programs which have a direct impact on the realtors. Most of them accuse Zillow, as it has betrayed the trust which they had and complained the company is taking benefit of them.
Interestingly, Zillow cannot exist without the support of these real estate agents in many areas. The company gets lots of advertisement from the organized realtors, but its new programs bounce back on the company as the realtors have already become aggressive in implementing these programs. These agents are more concerned by the action of Zillow which has chosen investor groups to deal directly through the online transaction without involving the local realtors.