Where Real Estate Gets Its Dirt

Did the NAR settlement just kill ShowingTime Plus?

I’m still going through the documents but one thing jumped out at me and in my opinion could be major for sites like Zillow and Redfin offering one click showing appointments.

“MLS participants acting for buyers would be required to enter into written
agreements with their buyers before touring a home. These agreements can
help consumers understand exactly what services and value will be provided, and for how much.”


Now reconcile that with this on Zillow’s website.

I don’t think this can be done with a simple check box on a terms of service modal. The rule says, “written agreement”. Overall the rule is a bit crazy, as one Realtor I know quipped,

“Hi. You don’t know me or my work still or level of hustle. If you want me to show you this house, you need to agree right now to pay me 3%.”

Will Zillow add NAR to its list of industry organizations they are suing?

  1. For decades agents have limited buyer’s brokerage agreements to a single day and even single homes.

    A VOW agreement can be done with a click or two and Zillow owns a forms/e-sign company so they can stick anything behind that button and it will pass muster.

    A question for you and Rob: if I sign that agreement can it be assigned to another agent or brokerage? If not, why not?

    I think the language may kill open houses hosted by buyer’s agents, though. “Welcome to 123 Elm Street, please sign here, here and initial there.”

  2. The public has so little understanding of the value I or anyone brings as a buyer’s agent. At many of my listings, the buyers come in either unrepresented or ready to dump their representative (which I discourage), figuring I will throw my seller under the bus to be able to double end the deal. Buyers want to click “schedule a showing” because they _want_ to work with the listing agent, completely unaware of what they are giving up. The industry has a long way to go in educating buyers why it makes sense for them to have an advocate at all even if the seller is paying, nonetheless to actually pay for one themselves. It’s a chasm to cross for the buyers and I’ve got popcorn for the sure-to-follow melee.

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