Last Thursday, Zillow announced a partnership with iBuying giant Opendoor, just days after the FTC fined the latter $62 million for dishonest business practices.
Byron Lazine broke down the Opendoor and Zillow partnership :
It didn’t take long for agents to comment in answer to Byron’s question: “What do you think this means for the future of real estate and iBuying?”
Agent Reactions
Some are obviously worried about the implications of this partnership—for both real estate agents and consumers.
Wait and See
Some agents are more curious than worried. To some extent, they get why Zillow decided to partner with Opendoor. And while the outcome is anything but certain, they’re not losing sleep over it.
Skeptical or Indifferent
Some don’t expect much of an impact on the industry—either because they trust that consumers will always prefer to work with another human (given a choice) or because they don’t expect this partnership to last.
While Zillow and Opendoor are both on solid financial footing, it’ll be interesting to see how this partnership works out for both of them—and whether or not they succeed in wooing enough consumers to make this joint venture worthwhile.
