Zillow purchases ShowingTime – All right. Not sure exactly what to say here about this one, Zillow purchase is showing time for five hundred million dollars. Wow, that is a lot of money. Half a billion.

Yeah. Who wants that for sure. All right. So let’s take a look at this. We’re going to pull up the the direct article on it and we’ll take a look and see some of the details here. It’s potentially an issue and everyone always gets an issue. Everyone always gets a little bit testy when we kind of talk about Zillow and what they’re doing and what’s going on and what their plans are.

And it seems like every time we let them, every time that the realtors let them in just a little bit, they take a little bit more and they just they keep moving forward with whatever their plans happen to be. So we’re taking a look at this here. Zillow acquired showing for five hundred million dollars now showing time for a little while. To me, it seems like something’s been going on.

If you guys remember last year showing time acquired access, essentially showing system and they had that merge and, you know, work through some kinks and then. Oh, I am. Whoa.

Look what happens, yes, so I don’t know exactly all the details, I can’t tell exactly what they’re kind of doing, but it was it’s interesting to me because I think there is a lot of consolidation within the industry that all of a sudden showing time purchases, all these smaller companies often kind of nationalize. This seems to me like something was in the works beforehand.

And Zillow was like, hey, we’re ready to buy you, but can you please do this, this and this first and get that all completed? Have each of those people sign a non compete that they won’t open up a new business or won’t do anything for the time? And now we essentially have a monopoly on this and we get all the data and we now control the front door and give people the opportunity to put a second lockbox on there.

That’s accessible by Zillow and that doesn’t need realtors. So to me, it feels like one of the first thing that’s important with this is realtors. You know, realtors were super important when they had this book and have the data. Then they give the data away and they had a website and then they gave the website away and now they have the lockbox.

And I think because of how they allowed this showing thing to kind of circumnavigate them, that now all of a sudden there’s going to either be another lockbox on the door owned possibly by Zillow and showing time, or that all of a sudden there’s only one lockbox on the door. And it’s that one, not this one.

Yes. So I think this, you know, Zillow becoming a broker, I was like, OK, it’s not that big of a deal. Right. It really already were broker. So not a big deal really. In my mind, this is a big deal because I think this is going to really change things. Something will change in our industry because of this. And I believe that, you know, we’re going to have to act quickly and, you know, do something pretty drastic, drastic, as you know, a realtor association.

To to compete with this, so it’s it’s really it’s a big shift, I think it is just as big of a shift when I was kind of mentally thinking through this. I think it’s as big of a shift as when the National Association sold Realtor.com.

Right now, I think it’s just as big. But I also, in the back of my mind, also know that disruptors come in all the time. You know, open door came in and people just totally flipped out. That whole entire program came in and all these things come in. But it does kind of rock the boat a little bit.

But then, you know where we are, you know, we were deemed essential.

We are essential. You can’t get rid of the human interaction and in the in the whole process. So, you know, it’s just look for changes to come because they’re going to come. But I don’t know. I do know this, that there’s been a lot of

discussion through the associations and the National Association of Realtors. And, you know, they they own a company called Central Park, OK, so they they own this. Right. And it is a similar they have lockboxes and and very similar to Soubry. So you know how that’s all going to play out and work together? I don’t know, but I think it will.

Yeah. And it can come from that. It would be extremely nice if we just change the lockboxes out and go to Central Park and then all of a sudden the whole association and we further integrate that into the database and it would work out fine.

So as a brokerage, we’re going to be looking out to see what’s best for the industry as a whole and try not to be giving more data and try not to be doing more things.

So look for some changes there and not necessarily immediately, but as quick as we can possibly shift. There’s a short term play in place with Insta Schelling’s with a gentleman named William, who is the CEO of that that I’m extremely excited about. So William and I kind of become fast friends and I hope I’m able to work something good timing. Like, I think timing is everything. Sometimes people. So let’s see what we can do with William in Insta showing. Seems like a good gentleman. Seems like he’s on the right track. Maybe give insta showings at Google and see what’s going on there.

Ok, and we’ll see what comes of that one.

Yeah, so anyways, we’ll have much more information on this, but just know that there when there is a shift in the market in something takes place like covid or a big major change that we’re here for you and we’re trying to stay in front of it. We’re trying to understand what it is.

And we’re not really like, I don’t know, nervous on those types of things because of how we’ve kind of established our business.

These things don’t bother me.

Maybe 10 years ago would have been a little nervous about it.

But but I do feel that we need to look out for it and know how to react and then how to integrate a change in how to take advantage of it whenever there is a change. Oddly enough, the people that are able to react to it are built systems and processes in place that can take advantage of such. Yes. Are going to actually do better throughout this change. Yeah. So I’m here for you.

And that’s kind of our job, right, is to help you out. If you see anything from your spot that you want to to tell us that we think that you think we should consider because then please reach out. I’m always willing to discuss those types of things. Send me directly an email to my boss, real estate dot com, and I’d love to hear all about it. I’m always looking for some new ideas and things that we can discuss. Sure. Yeah, perfect. All right. More info on it coming soon. -Zillow purchases ShowingTime-

Acquisto Real Estate

Episode Recorded Live on YouTube 2.12.21

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