Why Real Estate Agents Don't Trust Zillow: The Ugly Truth Behind the Popular Home Listing Website
Real estate agents have a love-hate relationship with Zillow. While the website has revolutionized the way people search for homes, it has also caused a lot of frustration among agents. Find out why real estate agents hate Zillow and why clients should think twice before relying solely on Zillow to buy or sell a home.
1. Lead Poaching
One of the biggest reasons why real estate agents hate Zillow is that the website is notorious for lead poaching. Real estate agents work hard to find qualified leads so it’s no surprise that real estate agents hate Zillow because Zillow sells client data to third-party companies. Those third-party companies then turn around and sell those leads to multiple agents. Clients should be aware when choosing to search on Zillow that their information such as name, email address and phone number are not protected.
2. Competition Between Agents
Zillow's business model pits agents against each other, creating fierce competition for listings. The website has a feature called the "Premier Agent" program, which allows agents to pay for exclusive leads in a specific area. Real estate agents hate Zillow because his program often gives an unfair advantage to the highest bidder, leaving other agents out in the cold. Not to mention, clients are connected to agents based on how much money they spend, not by their credentials. Would you really want to trust a major investment like the purchase of a new home with an unqualified agent?
3. Inaccurate Market Notifications
In a competitive market it’s crucial to receive fast, accurate market notification. Real estate agents hate Zillow because the site is notorious for showing out of date listing data making it harder for clients to act quickly and schedule a viewing before other interested buyers. Inaccurate listing information also causes false hope when clients find a listing that they love on Zillow only to find out that the property has already been closed.
4. Rogue Client Search
Real estate agents hate Zillow because it encourages clients to conduct their own home searches and doesn’t facilitate collaboration. Client-agent collaboration is important during the home search process because it allows agents to better understand the needs of their clients. Without having that insight it’s very difficult for agents to connect with their client and provide the best service.
5. Cutting Out The Agent
Zillow has created a perception that clients can find a home on their own, without the need for a real estate agent. Buying a home involves a lot of steps outside of just searching for a home. Real estate agents hate Zillow because the site diminishes the value of real estate agents, who are experts in their field and can provide valuable insights and advice throughout the home buying or selling process. Real estate agents help clients negotiate a fair price for the property, and can provide administrative support to ensure that all the necessary documents are completed correctly and submitted on time.
6. Bad Leads
Real estate agents rely heavily on leads to make a living, but not all leads are created equal. In fact, bad leads can be a major headache for agents, causing frustration and wasted time. Real estate agents hate Zillow because oftentimes agents are connected to clients who are not serious homebuyers that are just casually looking at Zillow. This is not only a waste of time but also a waste of money for agents paying for leads through Zillow.
Finally, Zillow's "Zestimates" have become famous or rather infamous for giving inflated home value estimates to clients. Zillow relies on algorithms to determine home values, which can lead to significant discrepancies in price. This creates problems when agents provide a lower, more realistic home value, causing clients to feel angry and distrustful of their agent.
Zillow Alternative That Agents & Their Clients Love: Zenlist
Real estate agents hate Zillow which is why they use Zenlist. Zenlist is a collaborative home search platform that protects client data, facilitates in-app communication, provides MLS level search, real time market updates and much more. Zenlist is a tool that agents and their clients both enjoy using!