- Zillow said it prohibited announcements that are initially selective to the public.
- The policy targets the selective sharing of the lists before they appear on sites like Zillow.
- Now, the announcements made public must be widely shared in a day to appear on Zillow.
Zillow announced on Wednesday a new policy that she declared that she was motivated by a principle: “An registration marketed with any buyer should be marketed with each buyer.”
According to the new company’s new access standards, houses that are registered for sale but only for a limited group – or not visible for all potential buyers via common channels – will not be allowed to appear on Zillow.
Politics is a response to a push of certain real estate houses to selectively share their lists, rather than making them widely visible from the jump, as on sites like Zillow or Redfin, as James Rodriguez reported from Business Insider on Wednesday.
For example, Compass, the largest real estate brokerage in the United States by sales volume, uses a marketing strategy that includes registration properties on a “to come soon” page before listing them more widely on sites like Zillow.
Zillow’s new policy means that for a list to appear on the site, it must be subject to a local database of houses for sale called a multiple registration service, or MLS, and published on sites like Zillow in a day after being initially marketed, on a clean site of a brokerage, on social networks or via a sign of court.
“Our standards are simple: if a list is marketed directly with consumers without being registered on the MLS and made widely available when buyers are looking for houses, it will not be published on Zillow,” said the company’s press release.
Zillow also said that the practice of selectively sharing lists harms consumers and creates confusion on the market.
“It is a movement of bait and switching, where the agents or brokerage houses try to make the most of the two worlds – which hung a list to win more cases, only to turn around and market it widely later,” said the press release, adding: “Consumers should not have to wonder if the house that could be perfect for them is hidden behind a door to which they did not know.”
businessinsider
