Marketing of residential properties is on the way to becoming even more complicated while real estate professionals continue to get trampled on instead of embraced. The more agents and brokers I talk with, the more fear I am hearing.
Agents and brokers already didn't like Zillow because of how it shares a lot of information that consumers used to only to be able to get from agents. However, these days that is only the start. Zillow appears to be behind legislation pending in Illinois (for example) to require homes for sale to be on the MLS instead of initially on independent services which limit how some properties are marketed and offered.
One could argue how Zillow is not a real estate company and is using their power as a tech company to leverage an entire industry in their favor. Real estate agents are already facing challenges because of last year's buyer commission changes. Those were passed supposedly to reduce or eliminate buyer commissions even though months later there is little to no evidence that buyers are saving anything.
The problem now is that Ai is a big part of Zillow's success, and its plans to use legislation to increase its presence in an industry it is actually not a part of reflect that. There are more and more agents and brokers that have embraced Ai and make it a more prominent part of what they do. However, that same technology is now on its way to wiping out their income.
More than ever, it is crucial for real estate professionals to distinguish themselves from others and offer unique and solid solutions. If everyone starts using Ai, consumers won't be able to tell them apart. That is, if they even have the opportunity to deal with any remaining agents.
Be careful what you wish for.
https://www.thedailylistings.com/blog/zillows-takeover-real-estate-industry-path-monopoly/
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