Zillow just royally screwed REX Homes.

Zillow recently made a switch to an IDX feed, to consolidate the thousands of MLS’s they were integrating with.

www.REXhomes.com is not a member of any MLS, nor do their sellers offer the buyer agent any commission. As a consequence, their listings are only displayed on Zillow and Trulia who built a custom bridge to accept their feed, Realtor.com and Redfin do not.

First class versus coach

Zillow’s format has changed, they’ve created two tabs: “Agent listings” and “Other listings”, comprised of pre-foreclosures, auctions — auto-fed public records that aren’t for sale, and for-sale-by-owners and REX’s listings. In essence, REX now has less exposure within the only exposure their listings had.

The first thing sellers do when their home’s listing goes live is look it up online. Their clients are not going to be happy about this. This will genuinely make it harder for them to sell their listings. If I REX, I would join an anti-MLS-MLS, like www.mystatemls.com, who is neither owned nor affiliated with the National Association of Realtors. They would enable REX to offer a nominal buyer-agent commission of a dollar, staying true to their value prop. This move would file their listings under the appropriate “Agent listings” tab, and would even get their listings syndicated out to Realtor.com as well.

One would think, REX, backed by nearly a hundred million in private funding, will do something about this, but haven’t we all seen firms with even more funding make strange choices until the day they die? I am rooting for this company as I believe they will be on the right side of history, written by anti-trust officials and attorneys currently working to see to it that buyer-agents cannot legally receive compensation from anyone other than their buyer.

--

--

--

I used to add miracle grow to data-analytics firms, now Im a proptech founder bringing offline consumer experiences online.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Starting eCommerce Business: Common Mistakes and How to Beat Them

7 Intercom Integrations to Improve Live Customer Service Today

The student loan crisis is looming. Payitoff can help.

What Are 3 Traits Important for the Success of a Fintech Hub and Job Seekers

Level 39, Europe’s biggest tech incubator and accelerator (Source)

The Supplement Company That Wants to Corner the Market on Gamers

Our Payment Gateway is empowering a million businesses to offer EMIs, cashback from top banks &…

r/wallstreetbets - GameStop Stock #tothemoon — A Social Media Analysis

Property Tech, the next wave of startup investment opportunities in Australia.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
John Fulton

John Fulton

I used to add miracle grow to data-analytics firms, now Im a proptech founder bringing offline consumer experiences online.

More from Medium

Energy efficient heating: a guide to buying the right heat pump system

Table 1: 2021/22 Estimated Heating Costs Based on Average Consumption for each Fuel. It shows the high costs of heating via heating oil and propane, lower costs for natural gas, and medium to high costs of electric resistance.

Overheating in the Swiss Property Market?

Semiconductor Industry Deep Dive with Dave Anderson of Semi.org

Folly and the Fed