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It begs the question: Was Zillow wrong then — or are they wrong now? If the MLS is so important - why are they carving out exclusions for consumers or builders?
When is Zillow a broker participant in the MLS, and when are they an advertising portal?
By Kevin Hawkins with Korey Hawkins | Vol. 2 Post 36 REAL AI is a human-created weekly roundup of all things related to artificial intelligence in real estate and emerging AI innovations in other sectors likely to impact our industry. We post a new edition every Friday, and our free newsletter is delivered every Monday. Zillow’s AI stumble Real estate agents often get very excited when they first read about an AI breakthrough they believe can help them. They download the app or AI agent, but too often, the promised AI feature does not deliver, and elation turns to frustration. [...]
Zillow is on the move with impressive growth and they are taking business from established lenders.
Plaintiff VHT Inc., a real estate photography studio, sued online real estate service Zillow for copyright infringement, alleging that Zillow’s use of VHT’s photographs on its website exceeded the scope of the licenses VHT had with brokers, agents and listing services.
This week, Zillow announced that Stan Humphries is retiring. He is an economist and the person that some have called the father of the Zestimate. The primary reason we looked at Zillow’s financial history today was in reference to this change in leadership.
Even after making the conversion from a third party portal to a brokerage website, Zillow continues to innovate on features that the consumer enjoys. In a recent press release, Zillow announced that consumers will be able to remove listings from their search results that they are not interested in.
In a press release today, Zillow has launched Renter Hub. They claim that renters can save thousands using Zillow’s new search tool to better time their move. This is great for property owners and renters too, as it reduces the vacancy days between renters.
The theme for the call was fairly simple, Zillow’s Super App. Zillow proceeded to talk about all of the investments, development, and ‘awesomeness’ that their Super App is going to be. It sounds like it will not be much more than a few enhancements that give home shoppers some nice features – 3-D tours (like Matterport), financing options (grow Zillow Mortgage), and adding services like ShowingTime.
In their Q4 earnings reports, Zillow laid out an impressive and visionary strategy that makes total sense for consumers and creates an enormous challenge to real estate brokers who are not taking the full cycle of homeownership seriously. Zillow calls this strategy the “housing super app.” To me, it looks like an exact copy of the strategy being deployed by Milestones.ai.
When Zillow Group® announced the acquisition of ShowingTime®, the industry began kicking up dust the same way they did after the DotLoop® deal.
If there is an emerging trend in broker websites today, it is collaborative search. TRIBUS had the functionality a decade ago, but really improved the product with a release announced this week called Households Collaborative Search; it is the beginning of home ownership portals. One spot for everything that includes all members of the household.
