Zillow and A Chat With Jay Thompson
Tristan Ahumada and Nick Baldwin sit down with Jay Thompson from Zillow to hear his background story and get his response to the increasing concern from Agents about Zillow’s “Instant Offers” pilot program. Housingwire.com explains Instant Offers like this:
Through the “Instant Offers” program, homeowners looking to sell their home can get all-cash offers for their home from selected investors. The seller will also receive a comparative market analysis from a local real estate agent, which would allow the homeowner to compare the investor offers to what their home might be worth on the open market.
From there, it’s up to the seller to decide what to do – either sell directly to an investor (like OfferPad, for example) or list their home on the open market.
…while Zillow says that “Instant Offers” will include real estate agents throughout the process, with the investors being required to use an agent, the homeowner is not required to use a real estate agent.
Zillow will offer to connect them with a local agent to represent them throughout the transaction, but they’re not required to use one.
Real Estate Agents across the country have expressed their anger and frustration in the Lab Coat Agents Facebook Group. We’d like to thank Jay for taking the time to sit down with us and set some things straight.