Virginia Realtors: Zillow’s touring agreement may not be legal

“While many in the industry have been intrigued by Zillow’s new pilot program, Virginia Realtors is taking a tougher stand.

In a notice published on Friday, Virginia Realtors wrote that “upon analysis of this ‘touring agreement’ form, Virginia REALTORS does not believe it is in compliance with the requirements of Virginia law.”

The trade organization also advised members to discuss business practices and any agreements and forms they are going to use with their broker to ensure that they are in compliance with state law.”

Brooklee Han, HousingWire

Oopsie

Zillow’s new touring agreement puts consumers first

“Our touring agreement–which expires after seven days and covers touring activities only – does not require compensation or exclusivity. That’s by design. We believe any negotiation of compensation, and what it will look like for the buyer and agent to work together, should happen after both meet and feel ready. At the time when an additional agreement is signed, the buyer and the agent should be aligned on all terms and expectations, including compensation, with no surprises. “

Errol Samuelson, Zillow Group

I think we all knew that the NAR Settlement requirement for agents to have a written agreement for showing homes threw a big wrench in Zillow’s attempt to “Uberize” real estate agents with the “Request A Tour” button.

Under the guise of “putting consumers first” Zillow’s “touring agreement” is a pretty clever attempt to help them save their Premier Agent/ShowingTime Plus business.

In my mind’s eye I can see Zillow’s Industry Relations Reps loading their slide decks, making restaurant reservations, attending to last minute party details, and filling their hotel suites with bottles of Fiji water in preparation for their descent in to Washington DC for the NAR Midyear meetings next week.

Raise your glass of Silver Oak high for these champions of consumers!