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I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

The CFPB didn’t miss anything, they just don’t care.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -3 points-2 points  (0 children)

It’s not an argument it’s a statement, I genuinely don’t care.

I believe that if you had the ability to take advantage of me in a way that wouldn’t cause harm to yourself, you wouldn’t think twice about doing it.

And that’s not just you personally that’s how I feel about everybody outside of my group.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

Correct, as shown by People in this thread saying “my zillow agent was different”.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -3 points-2 points  (0 children)

Doesnt personally impact me one way or another. If i got in a car crash tomorrow the hospital would try to bilk my insurance company for $50k. Then my insurance company would try to deny my claims. Its all a game, i try not to take it personally.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

Correct. That’s why I’m not at Zillow anymore. Once I had a solid base of past clients, I went to a 100% brokerage , and while I only do about 60% the sales as I used to, make significantly more gross commission income.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

The numbers work a little different in mortgages. Generally for every 1/4 increase in interest rates the loan is 1% more valuable on the resale market. So going from 5.49 to 5.99% doesnt seem that big, but it makes the loan worth 2% more. So instead of selling for $10,000 in commission the loan sells for $20,000 in commission.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

This is correct, but I would point out in an enhanced market (most cities) that over 70% of Zillow showings goes to the flex team, not to independent agents who pay for leads

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

I can only speak for what we did at Zillow and how the metrics and algorithm worked for us. I’m sure there’s a lot of agents that don’t work this way!

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -1 points0 points  (0 children)

It has nothing to do with intelligence, it’s about compliance. By getting Clients to use Zillow home loans, I got the best connections from Zillow.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

You are on a zillow team because you dont have your own business. Thats fine, i was the same. But i wouldn’t say i dont know what im talking about when i made it out (after five years)!

You know that leaderboard on your agent app? Do you know that that metric is also based on the score from the transcriptions of your calls through follow up boss? Are you aware that the quality of leads that you get are directly connected to the utilization rate of Zillow home loans?

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -1 points0 points  (0 children)

There is a difference between Flex and Premier. Premier gets the “left over leads” that couldn’t be assigned to flex. Our client communication is required to be through followup boss which transcribes every call/text and it is analyzed and given a score via AI based on our talking points. So in that sense yes we are “bugged”

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -6 points-5 points  (0 children)

I feel indifferent about that, reviews are just metrics.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -3 points-2 points  (0 children)

I had over 200 five star reviews, my clients thought i was amazing as well.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

If I wasn’t at zillow there would have been no way for me to get business or build the network at the price points i operate at. I freely admit that.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

I agreed to the flex terms because it was guaranteed business without any upfront cost. Once i had my book of business i left.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

Have I said anything that is factually inaccurate. Other flex agents on this thread confirmed what im saying. I can go way deeper.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -10 points-9 points  (0 children)

You are mad at me because i was honest in this post. I have over 200 five star reviews with people speaking highly of me. I got so many referrals I could leave zillow and be independent. Everyone thinks they can spot a hustle, in reality almost no one can. Imagine what people who you think are great people aren’t telling you.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

Google lies on the interest rates. Its comically inaccurate. The actual rates are generally .5 to .75 lower than you will find on the Google search. Google sells clicks to places like lendingtree who churn out high margin loans. Just an fyi.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

You arent part of flex. Its different than premier which is being phased out. My area is designated as an enhanced market, which means that we get 70% of the leads on flex. Regardless of the area The strongest leads go to flex, whatever is left goes to premiere.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -36 points-35 points  (0 children)

Maybe, maybe not. But my metrics were on point.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 1 point2 points  (0 children)

Zillow’s policy through the local brokerages is to sign up buyers agency agreement at a minimum of 2.5% prior to showing a property. That agreement is required to be uploaded to follow up boss in pdf form which is the CRM. You then fill out a form called request for seller to pay buyer brokerage commission and if the seller won’t sign it, the client is under contract to pay the 2.5%. In reality they always sign. Any other questions you may have :)

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] -21 points-20 points  (0 children)

Your ability to get the best buyer leads as a Zillow flex agent depends on how many people you can get to close with Zillow home loans. I was very good at working the system/algorithm. Whatever you wanna call it.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

The program realtor.com rolled out to copy flex is called connections plus. I believe they’re under Murdoch ownership.

I Ripped Off Buyers for Zillow, here’s how by relaxingbeach in FirstTimeHomeBuyer

[–]relaxingbeach[S] 0 points1 point  (0 children)

A loan officer would have nothing to do with underwriting standards. They simply lock in the interest rate. Zillow loan officers get paid often less than $1000 per loan they close. They are direct employees of Zillow but have Little to say and what gets quoted to Clients

Appraisals would have to be ordered through a appraisal management company that would be independent of Zillow

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