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Rainmaker
953,617
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

 WEAK agents would consider this good news!

Mar 23, 2020 10:25 AM
Ambassador
3,169,508
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Are they buying so many homes that it's REALLY a problem for the industry?

Mar 23, 2020 09:48 AM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I think they have stopped buying homes because they know they will have a hard time selling them in this market and they are worried that prices will be heading south on their inventory of unsold homes.

Mar 23, 2020 12:58 PM
Rainmaker
2,390,620
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Looks like a GREAT blessing to me for agents who go head to head with Zillow. Lucky for me I never had to contend with Zillow when I was active Les Cab .

Mar 23, 2020 11:14 AM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

They did get into the acquisition game during the wrong end of the market cycle.

A pause would be wise.

Mar 23, 2020 08:03 PM
Ambassador
3,125,819
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

They are not my competitor as of yet. I have all the local answers and they clearly, do not!

Mar 23, 2020 06:47 PM
Rainer
378,517
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

not for the people who they were going to buy their house

Mar 23, 2020 03:20 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lee,

Zillow has never been a treat for those who market well...They are a non-issue!  A

Mar 23, 2020 10:14 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

This is a convenient time for Zdevil to hit pause. Are not we all paused? It can be interpreted as responsive to GOV'T directives or 'losing to much money on each house sold and gotta regroup.'

However, I do not believe the exorcism to be complete. They'll be back.

Mar 23, 2020 10:06 AM
Rainer
417,221
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

The 100 houses in Canyon Lake that they discounted will now be up for fire sale as they dump them - 1960 houses now will get deep discount. Who in Georgia or Arizona is near some? Z is only in conforming deals under $410000. This hits working America hard. Slash and short their stock 

Mar 23, 2020 10:03 AM
Ambassador
5,230,068
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I think Sharkfin began the trend for the iBuyers to cease their business models. I'm not surprised to hear that Z followed suit. 

Mar 23, 2020 08:50 PM
Rainmaker
1,543,727
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Happy if it hurts Zillow. I doubt they were much of a dent in CA though to begin with.

Mar 23, 2020 05:38 PM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

It depends, were they using a Realtor?  It might hurt sellers which could hurt agents.

Mar 23, 2020 05:37 PM
Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

They have had limited impact in my market, but this could be, as you say, a blessing in disguise.

Mar 23, 2020 12:37 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

They have not been active here in NH, but a good thing over all. I said it before they may thrive until a down turn, then dominoes fall down hill. 

Mar 23, 2020 12:10 PM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I believe they are shrinking their operations to survive & this area is one that is already covered by others...

Mar 23, 2020 12:07 PM
Rainmaker
1,844,291
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Well, since they are really new at it with no actual volume in my area at least I just have to say GOOD.

Mar 23, 2020 09:55 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Same with Redfin.

Mar 23, 2020 03:19 PM
Rainmaker
5,868,544
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

This was never a good deal here in Denver, they offered WAY below fair market value.  No loss! 

Mar 23, 2020 11:48 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Blessings are all around us and come in many forms. 

Mar 24, 2020 08:58 AM
Rainer
337,854
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

iBuying is not a thing in my market so I don't have any first hand experience. That said, I could see this as a temporary thing while they gauge the market, regulatory concerns, or both. I suspect there will need to be some changes made to these programs so they aren't manipulating markets (which is not likely only a possible issue in a few markets)- but as these businesses scale up, they will be targeted for greater regulatory review. 

Oct 04, 2021 07:28 PM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It does not impact its bottom line.  Now we got OPEN to deal with.

Oct 04, 2021 02:36 PM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

Time will tell.

Mar 24, 2020 07:54 AM