‘Because they can’: One industry pro’s take on Zillow Instant Offers

It’s been 10 years coming
  • When a company reaches a certain scale, it can cross red lines.

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Brian Boero's company, 1000watt, represents large and small brokerages and tech companies that could be adversely affected by Zillow Instant Offers. Brian Boero Zillow’s launch of a homeselling service is a big deal. Here’s my initial reaction. A red line has been crossed “We sell ads, not houses.” Everyone in the real estate industry has heard Spencer Rascoff say this time and again. The Zillow team was adamant: "We’re just a media company." Other statements from the portal giant echoed a similar sentiment, to the effect of: Agents and brokers will always be needed. The dotloop acquisition isn’t a play to get into the real estate transaction. A company dependent upon broker listings and agent dollars for its very existence would be insane to insert itself into the deal. Instant Offers appears to contradict these assurances. However Zillow might downplay this move as a “test," and whatever the law says about its role here, the company ...