From the Desk of Dan Amdur, CEO, Moving Station/QuickBuy®

Dear Partners,

To cap off a very busy week of industry news during the first week of August, Zillow and Opendoor announced they are partnering to “transform how people start their move”. As discussed, iBuying is a lead generation program designed to identify a family looking to move, early in their decision-making process.  

What this means for brokerages is that consumers will be able to buy, sell, close, and get mortgages through Zillow’s self-declared “most visited brand” (website), possibly pulling even more people away from brokerage websites. While no direct cost to brokerages, the indirect costs come through: 1) Zillow charging fees to agents for referrals; 2) Opendoor discouraging buyers from utilizing the services of agents; and 3) bundling core services. The above is being done through a “licensed Zillow Advisor who will serve as a helpful guide.”

The below is directly from their press release:

"Zillow is the most visited brand in online real estate. As we bring the housing super app to life, we're empowering our millions of visitors to understand all their options and transact in the way that best meets their housing needs," said Zillow Chief Operating Officer, Jeremy Wacksman. "We know choice is important for customers and they can make the best decision when they see all of their selling options up front — including selling on the open market with a Zillow Premier Agent partner and getting a cash offer from Opendoor.”

"At Opendoor, we're working to turn what is often viewed as one of life's most stressful moments — the home move — into an e-commerce experience that's simple, certain and fast. By bringing together Zillow's market-leading audience and Opendoor's e-commerce platform, more consumers will have the option to sell to Opendoor and save themselves the stress and uncertainty of a traditional sale process," said Opendoor President Andrew Low Ah Kee. "

The above is not just for real estate but all core services. 

Consumer behavior has changed. Convenience and certainty resonate and garner the attention of today’s customer. The value of an agent has always been apparent as a recent survey illustrated 90% of the consumers say they appreciate the guidance and expertise an agent brings to buying and selling real estate. Our partnership and expansion of QuickBuy® within the brokers and agents’ sphere of influence trumps the above and keeps the agent and your brand front and center.   

As always, thank you for your partnership and please let us know how we can better support you and your team. 

Dan Amdur