IS IT OVER FOR ZILLOW? NAR Lawsuit Update

The real estate market is set for a major shakeup. A legal settlement with the National Association of Realtors (NAR) paves the way for reduced real estate commissions, impacting industry giants like Zillow, Anywhere Real Estate, Compass, and Redfin, which saw significant drops in their shares. This pivotal change, introducing a new MLS rule against commission offers, could significantly alter how real estate transactions are handled.
Wall Street analysts predict commission reductions of 25-50%, benefiting online and discount brokerages with greater MLS access and lower rates. While this could favor homeowners selling their properties, it raises concerns for first-time and lower-income buyers due to potential shifts in agent motivation.
Amidst these changes, the NAR faces its own challenges, dealing with a substantial legal verdict and recent leadership changes. This decision marks a crucial turning point in the real estate sector.
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🚨 Disclaimer: All stats and data are subject to change and are provided as examples at the time of this recording. While we strive for accuracy, errors do happen. We are human, after all! 😉
Chris Cusimano
Homes by Cusi Team Lead
Keller Williams Realty Boca Raton
Lic 3150469
7280 W. Palmetto Park Rd, Suite 110
Boca Raton, FL 33433

[@homesbycusi]

How do you see this playing out?

[@rohit-ld6fc]

How about redfin? Opendoor? Compass? Expi?

[@homesbycusi]

Looks like I have some more work to do 😆

[@SC-sh6ux]

As a buyer, I’d like listing agents to show their listing and buyer agents to work for a flat fee and/or percentage of how much they negotiate the price down.

[@homesbycusi]

I can appreciate that. What about situations where it’s a bidding war and the role of the agent is to get the property at the price that wins the contract for their buyer at the price the buyer is excited to pay? The point, the value is not always the price. Many times the value comes from other terms and situations which do not begin nor end at contract. If the only value a buyers agent provides is a reduction in price then I’d advise a buyer hiring a professional negotiator for a flat fee and then doing the rest themselves. We know that’s not how it works, however.

[@SC-sh6ux]

@@homesbycusi good question. This buyer would NEVER enter a bidding war! Ha! If it is the right house, but at the wrong time (because of bidding wars) then it is NOT the right house. I can’t pay anyone to fix that!

[@homesbycusi]

For a 💯 % free training on what I do and suggest head here www.skool.com/group-by-cusi-3158/about

[@michelleanderson-wc9nw]

You may want to actually know how Zillow works, you buy a zip code and you get the buyers looking in at area. You don’t give Zillow 40% 😂 once you buy the lead all profit is yours to keep. You pay a large fee for the zip code up front buy all commission is yours to keep you don’t give Zillow a dime of the commission. Been buying for 8 years make over 500k a year buying their leads. Just wanted to give you the actual facts of how it works so you don’t put inaccurate info and make yourself look like you don’t know what your talking about

[@homesbycusi]

www.zillow.com/premier-agent/flex-pricing/

[@michelleanderson-wc9nw]

Again that is not the primary way Zillow sells their leads. The vast majority buy the zip code for a fee and that’s it. It’s expensive but you don’t pay per closing it’s approx $900 per month for 12 leads. What you do with those leads is up to you. You DO NOT pay a commission once
You buy the zip code. I’ve been doing this for YEARS and earn 500k +. The program you are referring to is a VERY small portion of

[@homesbycusi]

@@michelleanderson-wc9nw Very cool! It sounds like you'd def know more than me if you do it this well. Keep killing it :)