On today’s RealTrending, ShowingTime+ President Mike Lane offers insight into how showings have been impacted by the low inventory and high-interest rate market. He’ll also talk about how agents can win listings, how Zillow has been impacted by the commission class-action lawsuits, and how the company is using AI to build better photography products.
Here is a small preview of today’s interview with Mike. The transcript below has been lightly edited for length and clarity:
Tracey Velt: Several of the commission lawsuit settlements are now, we think, going to give brokers the option of not being a member of the National Association of Realtors, not being a member of the MLS, not adhering to the code of ethics. This is all hearsay at this point, no confirmation of any of that, but the rumors are rampant now that the portals are going to take over. Even though they don’t really offer the same services as an MLS, do you have any thoughts on that?
Mike Lane: I think rumors is the operative word in that. I would say that the mission of Zillow and Showingtime+ has been the same before and after all the commission lawsuit stuff of late, and that is to focus on the consumer and to provide the best possible experience for the consumer.
I’m sure everybody’s well aware of what’s going on at NAR, but I can honestly say that I don’t think it’s changed Zillow’s strategy on what remains the North Star of the company, which is creating a great experience for the consumer. And within ShowingTime+, it doesn’t change the rule that we want to provide a great value to our customers.
The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.
