The shift toward a world in which listings are pre-marketed on search portals accelerated on Wednesday, with Zillow announcing it had added 24 more brokerages and franchisors to Zillow Preview.
Berkshire Hathaway HomeServices, Engel & Völkers, SERHANT., Samson Properties and others have signed agreements with the nation’s largest home search company to pre-market homes exclusively on Zillow and Trulia.
The news suggests the market continues moving toward a future in which homebuyers must check multiple portals to see properties before they hit the market and are shared widely via the multiple listing service and other portals.
Zillow also said that over 800 other brokerages had signaled an interest in using Preview, which was first unveiled last week.
“This rapid adoption signals increasing demand across the industry for a more transparent, consumer-first approach to sharing pre-market listings and builds on last week’s launch announcement,” the company said in a statement.
The following companies have joined Keller Williams, REMAX, HomeServices of America, Side and United Real Estate in partnering with Zillow:
- Engel & Völkers
- Leading Real Estate Companies of the World® (LeadingRE)
- SERHANT.
- Samson Properties
- Vanguard Properties
- West USA Realty
- Berkshire Hathaway HomeServices (BHHS)
- 54 Realty
- Bastion Realty
- DASH Carolina
- Dwelli
- Ehomes
- Heather & Company Realty Group
- Hester Group Realtors
- Joe Stockdale Real Estate
- Palm Paradise Realty Group
- Pemberton Real Estate, Regal Realtors
- Spyglass Realty
- Levi Rodgers Real Estate Group
- Move Real Estate
- Stephen Cooley Real Estate
- Navigate Realty
- Works Real Estate
Zillow last week announced that brokerages could “pre-market” listings while complying with local multiple listing service (MLS) rules, which dictate how long a listing can remain in coming-soon status before going active.
Agents can test pricing during the preview stage and decide whether days on market will accrue for the listing, depending on MLS rules.
Some MLSs allow agents to market a listing as “coming soon” for upwards of 30 days. NorthwestMLS, meanwhile, doesn’t allow for any coming-soon listings.
Zillow Preview was the company’s response to the news that Compass and Rocket struck an agreement to prominently display on Redfin pre-marketed listings from agents within the Compass megabrokerage. Redfin agents’ coming soon listings are also displayed on the portal, which is the third-largest by traffic.
EXp Realty announced last week that it was the first to partner with Realtor.com and Homes.com on a pre-marketing syndication agreement. The brokerage also partnered with ComeHome.com.
According to Zillow, pre-marketed listings by agents at brokerages that have signed agreements will be prominently displayed on the portals. Listing agents can also possibly earn a portion of Zillow’s revenue when buyers connect with a Zillow Preferred agent via a pre-marketed listing.
“Zillow Preview was just announced, but the signal from the industry is undeniable,” Zillow CEO Jeremy Wacksman said in a statement. “Brokerages and their agents want an early marketing option that’s public, transparent and easy for consumers to find, not hidden behind a private gate. This level of early adoption shows we’re building something that aligns with where the market is headed.”
Pre-marketed listings are set to go live on Zillow and Trulia next month.
