A dive into Zillow's surprising legal claim suggests it only handles a tiny fraction of real estate transactions, raising questions about its industry dominance. The discussion unfolds around the implications for competitors like Compass and Homes.com, and how this shift could impact agent sales strategies. Anticipation builds for the upcoming Inman Connect in San Diego, as the hosts reflect on economic challenges and industry sentiment. They explore the interplay of media perceptions and real estate market dynamics, offering insights on navigating competitive landscapes.
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question_answer ANECDOTE
Producer Cole Attended A Card-Game Event
Greg and his son Cole attended a Star Wars Unlimited card-game event in Las Vegas recently.
Greg mentioned Cole produces the podcast and they spent time together at dinner there.
insights INSIGHT
Inman May Be Smaller And More Introspective
Market conditions may reduce Inman Connect attendance and change event tone toward introspection.
Greg expects a smaller, recharging crowd as agents balance cost and need for inspiration in a weak market.
insights INSIGHT
Zillow Admits Low Transaction Facilitation
Zillow's legal brief claims it only facilitates a single-digit share of home transactions, undermining claims of market dominance.
Rob and Greg argue that admitting low facilitation weakens Zillow's strategic influence and bargaining power in the industry.
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In this episode, Rob and Greg dive into Zillow’s legal strategy in its defense against Compass's lawsuit, focusing on Zillow’s surprising claim that it only facilitates a “single-digit” percentage of real estate transactions. They debate the strategic implications of this position—especially how it could undermine Zillow’s perception of power in the industry—and analyze the broader impact on listing presentations, MLS relationships, and competitors like Compass and Homes.com. They also preview the upcoming Inman Connect in San Diego and discuss potential industry sentiment and attendance given the market’s current challenges.
Key Takeaways
Zillow's Legal Strategy: Zillow argues it is not a monopoly, claiming it only facilitates a single-digit percentage of home transactions.
Strategic Risk: Rob questions why Zillow would make this claim, suggesting it weakens their perceived power and brand strength in the industry.
Agent Sales Impact: The claim could hurt Zillow's Premier Agent business by giving competitors a compelling narrative (“why pay for single-digit exposure?”).
Compass Lawsuit Context: The lawsuit stems from Compass’s perception that Zillow’s policies harmed their three-phase marketing strategy and listing exposure.
MLS Relationships: Rob and Greg wonder how MLSs might reevaluate their relationships with Zillow after this shift in positioning.
eXp-Zillow Data Feed Deal: Rob questions why eXp is sending direct data feeds to Zillow when MLS feeds already exist.
Inman Connect Preview: Greg expects a smaller, more introspective crowd due to market conditions. He plans to gather MLS sentiment on the ground.
Industry Power Perception: Rob contends Zillow is still the most powerful entity in organized real estate—more than NAR post-clear cooperation—making its current legal stance all the more surprising.
Industry Relations