The marketing of Boston condos for sale is changing so rapidly
Boston Condos for Sale and Apartments for Rent
The marketing of Boston condos for sale is changing so rapidly
Boston condos for sale Ford Realty Inc
This week, Zillow released a statement….an excerpt:
Our standards are straightforward: If a listing is marketed directly to consumers without being listed on the MLS and made widely available where buyers search for homes, it will not be published on Zillow. These new standards will go into effect on Zillow and Trulia in May 2025.
Zillow has turned up the heat on the private listing (pocket listing) of real estate brokerage firms
Zillow announced a new policy that bans private listings from its platform as part of a standards rollout reinforcing the National Association of Realtors’ Clear Cooperation Policy.
“When a listing is publicly marketed to consumers — whether through a sign in the yard, an Instagram post or on a brokerage website behind the lure of exclusive inventory behind a consumer login — it must be submitted to a Multiple Listing Service (MLS) within one day and published on Zillow and other sites that receive listing feeds,” a release from the company said.
Zillow said it would ban listings that don’t meet these standards for “the life of the listings.”
A spokesperson for Zillow said the company has internal tools to monitor listings that don’t comply with its standards, and that the ban will be implemented on a listing-by-listing basis. The rule will go into effect in May.
While Compass has been on the vanguard of promoting the use of off-MLS listings, several others have followed suit in the wake of a ruling from NAR that affirmed the use of private listings and allowed sellers to publicly market listings without syndication through MLS feed.
Douglas Elliman and Corcoran, two of the largest players in residential brokerage, unveiled their private listing platforms in the past several weeks.
My thoughts
If the large Boston condo brokerage firms all start marketing their condo listings as private (off-market MLS listing), most likely at a discount brokerage rate. Can independent real estate offices survive?
