Since its founding about 15 years ago, Seattle-based Zillow has become a major player in the real estate industry throughout all 50 states. And that includes here in Delaware and Maryland, where the Oldfather Group is proud to have forged a special relationship with the industry leaders who work at Zillow.
If you follow real estate news at all, you’re probably aware of Zillow and the news they announced earlier this month that will likely increase their viability and market share in the United States.
What is this news and how does it affect you as a consumer? The short answer is that the company is bringing its iBuyer and Zillow Offers programs in-house, hiring employees and licensed agents to help broker the sales of homes that they personally purchase.
While there are some real estate brokerages around the country who view this as bad news, we take just the opposite approach at the Oldfather Group. There’s obviously a need for this type of program countrywide, and Zillow is better equipped than anyone to make it happen.
And it can also have some positive advantages for the real estate consumer. Here’s Oldfather Group Founder and CEO Dustin Oldfather with more.
So why are so many in the real estate industry upset about a program that only affects a very small portion of the marketplace?
Every brokerage around the country is obviously entitled to their own opinions and to lead their respective companies in the way they see fit. But for our particular company, we’ve had a great relationship with Zillow for many years and we support their decision to expand their business model moving forward.
As Dustin mentioned in the video above, Zillow has revolutionized the industry over the last decade-and-a-half by making the customer service experience more transparent and in bringing brokerages additional exposure via the use of Zillow online reviews.
What the company is now doing is offering quick sales in exchange for significant discounts on the final home price, which allows for rapid closes and the opportunity for the seller to have cash on hand when going to buy a home in another area.
Some in the industry feel this will cause a loss of clients to a much larger and better funded Zillow operation. But this is the direction the market is heading and there is undoubtedly a need for this type of service.
It’s a consumer focused real estate experience that people have come to know and trust and, quite frankly, demand over the last several years.
Consumers these days are looking for an integrated, concierge type experience where the real estate company they hire can provide a seamless and relatively smooth journey to home ownership or to a satisfactory sale of their property. It’s what we do at the Oldfather Group, and it’s the future of the real estate industry in the United States.
So the bottom line, as Dustin mentioned, is that this announcement by Zillow is not something others in the real estate industry need to fear. Use it as inspiration and learn from it moving forward.
The focus should always be on taking care of our customers in the best way possible. If we continue to do that, then everything else will take care of itself.
It’s like Dustin said: “We need to do a better job for the consumer, and that’s an ongoing process that’s never going to stop.”
To learn more about the Oldfather Group, visit us online at theoldfathergroup.com or call 302-260-2000 to speak to a member of the coastal region’s top selling real estate sales team.