Zillow recently announced that it was moving exclusively to its success fee Flex model in two major markets, Denver and Raleigh.
Why It Matters: Zillow Flex is “Next Gen Lead Gen,” featuring a 35% commission share and lead qualification by Zillow employees. It’s the future of real estate portal lead gen — and gets Zillow much closer to the transaction.
Zillow’s new strategy (Zillow 3.0: Back to Basics) has the company going back to its roots, doubling down on agent lead gen, and extracting more revenue from real estate commissions.
Winners and losers: Next gen lead gen works for the agent partners that decide to participate in the program; those agents and brokers receive millions of leads.
What to watch: How Zillow integrates mortgage (Zillow Home Loans) and ShowingTime into its renewed Flex program.
Mike DelPrete is a real estate technology strategist.
This column does not necessarily reflect the opinion of RealTrends’ editorial department and its owners.
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