An average of 7.6% of potential homebuyers searching on Zillow also shop for rentals, according to Zillow’s new report on “dual shoppers,” highlighting the continued affordability challenges faced across the U.S. as buyers weigh their options. Overall, in the U.S., Zillow found that it is typically $415 cheaper to rent than own (including mortgage payments,…
FirstTeam® has announced that it has joined Zillow Preview, the portal’s new way to bring pre-market home listings into the open, earlier in the listing process. As part of the platform, Zillow stated that FirstTeam®’s 2,300 sales agents in California, Arizona, Idaho, and Washington can now publicly pre-market their listings on Zillow and Trulia before…
Redfin has formally—and publicly—asked Washington-based Northwest MLS (NWMLS) to change its rules and allow home sellers to pre-market their properties. The request, detailed in a letter from Joe Rath, Redfin’s Head of Industry Relations at Rocket Companies, challenges what critics have called one of the most restrictive policies around public marketing across the MLS landscape.…
Zillow has launched the Zillow Buzz Index (ZBI), a new metric that measures which design details and architectural features boost buyer engagement with a listing. The data helps to identify which homes are most likely to attract strong interest and move quickly, which in turn helps agents guide clients in how to generate more interest…
The brief moment of lower mortgage rates, coupled with some bettering signs in affordability, have led to a margin of improvement in housing inventory and the market as a whole, according to new data. Zillow’s March Market Report found that pending listings (listings that changed from for-sale to pending status rather than closed sales) grew…
There is a lot of noise in the real estate industry right now. Clear Cooperation. Private listings. Lawsuits. And now a growing push toward exclusive “Coming Soon” and preview platforms. Let me be clear about where HomeSmart stands. Until shown otherwise, we believe listings should be broadly accessible, not restricted to any one platform or…
According to Redfin, 52.2% of February’s home listings sat on the market for at least 60 days without going under contract. Defining this as “stale inventory,” these types of listings have increased nationwide over the past year from 50.1%—marking the highest level in any given February since 2019, the portal said in a new report.…
Momentum seems to be building for Zillow Preview, with the portal announcing the addition of 24 additional brokerages to the program just one week after its launch. According to the company, Zillow Preview is designed to expand early visibility for sellers, agents and buyers at a critical moment in the home shopping journey, and the…
A federal judge in Seattle has paused the discovery process in a high-stakes class-action lawsuit against Zillow, and gave at least some signal that the case could get tossed in its entirety relatively soon. U.S. District Judge James L. Robart granted Zillow’s request to pause discovery on March 23, halting all fact-gathering in the case…
In more news surrounding the hot topic of private listings, a Washington state bill designed to severely restrict private listings has been signed into law after passing both the Senate and the House earlier this year. The bill was proposed in the Senate back in January, with the goal of explicitly banning real estate brokers…
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