Does Zillow cut a different deal with each MLS for its listing data? This is what Zillow has been saying online and in Facebook groups as the April 8 deadline approached. Zillow has refused to discuss the terms of the contracts they have been executing (not even the critical Opt In or Opt Out). My thought was that the terms of all of the contracts should all be pretty much the same.
In the 3 national products that I had the opportunity to bring to the market, (REALTOR.com, ePRO, and Point2 Syndication), our contracts were always consistent. Dealing with hundreds of different contracts with MLSs and Associations was always considered by those who knew about such things, to be the wrong way to go.
- Do some MLSs get better terms than others?
- Are some MLSs making mistakes and giving away too much in signing with Zillow at this point?
- Is Zillow hoping that the urgency they create and the naiveté of REALTORs will be enough to persuade them to sign Zillow contracts under Zillow’s terms?
Don’t settle for anything less than the best deal. “Most Favored Nation Status,” and begin to learn more about the value of the data collected by agents and brokers as the era of big data continues.