Recently Zillow launched its new ‘Coming Soon’ feature which allows real estate agents to promote upcoming properties before they are officially listed on any MLS.
In a guest commentary on Inman News, Doug Miller, executive director of Consumer Advocates in American Real Estate (CAARE), addressed the new feature, stating that it was a “harmful practice that thrives on breaching trust, deceiving clients, and intentionally putting them in a situation of duress and then profiting from it.”
Miller wrote that CAARE does not support Zillow’s entry into the pocket listing marketplace. ‘Pocket listing’ being a term for a listing which bypasses the MLS. Miller also stated that, “this pseudo‐illegal conduct does not reconcile with Zillow’s mission of transparency.”
Inman is also running a poll asking readers if they approve of Zillow’s ‘Coming Soon’ feature. As of today, with nearly 1000 votes tallied, 70% of respondents do not approve, 24% are in favour, and 6% are not sure.
For more information on Doug Miller's guest commentary on Inman News, please click here.