The National Association of Realtors (NAR) issued a statement in response to member affiliates’ requests that the association take a position on Zillow’s new online investor sale program.

Zillow’s Instant Offers program, announced in late May, is a pilot test in two markets – Orlando, Florida, and Las Vegas. Homeowners can list their homes for sale on the website and the real estate portal company will solicit offers from investors, essentially bypassing the role of real estate agents.

NAR said on its website that it cannot encourage a boycott of Zillow, as that action would be illegal, and the same is true for state and local Realtor associations. NAR has partnered with Realtor.com “to ensure that at least one portal available to consumers would recognize and promote the true value that our members bring to the real estate transaction.”

The association said it would “undertake renewed efforts to remind the public, and to encourage and help members inform their clients and customers, of the value they bring to the real estate marketing and sales transaction, and the problems and risks sellers may encounter in marketing and selling their home without using a Realtor.”

Realtors Concerned About New Zillow Pilot Program

by Banker & Tradesman time to read: 1 min
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