30 May #Zillow Changes Lead Flow for Premier Agents
Zillow has announced changes in their lead flow to their Premier Agents
Zillow is making changes to their Premier Agents platform. The real estate behemoth states that the new changes will provide a better level of service to both their clients (the Premier Agents) who pay for the leads as well as giving a better process for the potential lead (the consumer).
What are the Changes to the Premier Agents Platform?
In the past, Zillow would let consumers request to additional information on a listing, which would send out emails to the Realtors who was paying to be featured. In an effort to generate more sales revenue, Zillow would quadruple sell each zip code to multiple agents. This meant that when a potential home buyer were to request information, they had a pretty good chance of being contacted by multiple agents.
The new changes have Zillow actually fielding the requests from the consumer, asking if they are ready to be contacted by an agent. If the consumer says they are ready to talk to an agent (keep in mind, they have already requested this on the website) then the user would be connect with the next subscribing agent on the list for that zip code. If, for whatever reason, the first agent in line were not to answer, the next agent in line (for that particular zip code) would get their shot.
What are the Effects of the Change?
The number one change here is the raw number of leads you can expect to receive as a Premier Agent with Zillow. As a Premier Agent, you can expect a substantially smaller number of leads to come from Zillow. On the other hand, the leads that you are to receive, should be a higher quality of lead, since they have already told a Zillow agent that they were ready to be connected to a REALTOR.
From a subscribing real estate agents perspective, if your business model had you getting the contact information for these leads and placing them in a follow-up system or a CRM (client relationship manager) you may need to adjust that strategy. Now, if you don’t catch that phone call, the “already qualified” lead will then be pushed on to the next agent in line.
As a Premier Agent with Zillow, if you are one that has the ability to answer that phone call from Zillow — you do have the opportunity to close a larger percentage of Zillow leads. Truth is, as we know, if you call a busy real estate agent, you will most likely get a voicemail.
Zillow Pushing the Limits
As most real estate agents are well aware, there are many rules about giving real estate information and advice if you are not a licensed real estate agent in your respective state. Each states real estate commission has rules keeping the general public from acting like a real estate agent or providing more than standard facts about a home. Most consumers are not aware of the differences between Zillow and licensed real estate brokers and agents.
You may remember when the President of the United States spoke to Spencer Rascoff about the state of real estate in the US. Most Realtors were shocked since Spencer has zero experience selling homes (you may remember his home sold for 40% less than the Zestimate) showing their Zestimate doesn’t do the greatest job of getting your homes accurate value. Not to mention he is not licensed to sell real estate either. He even recommends that you use an agent when buying and selling a home.
Zillow has done a good job of making Zillow money. They don’t always do a great job of making their customers (the real estate agent and broker) all that happy.
Will the changes in Zillow’s Premier Agent Program have you stop giving them YOUR money?