Several agents I have spoken to lately are receiving very HOT phone calls from other agents. They want to know why their clients are finding properties on Zillow, but not in the MLS. Apparently, Zillow is posting properties as bank owned, and using the past listing agent as the contact person. One friend sold a house over 6 years ago, and has been receiving calls for some months. At first she was happy to get these leads, then the irate calls started coming in from the agents. Zillow is getting the lists of homes apparently in foreclosure. Be aware, and report accordingly.
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Good point, however, our MLS doesn't have rentals. I would bet more likely, Zillow has a corruption in their program and misinterprets the data provided. But, the original sale listings I spoke of are not in the MLS with another realtor either. I have no reason to believe it is intentional, but I think Zillow has a problem.
Their measurement is # of listings whether they were sold, pawned, agents retired.....
Yes, I'm sure. I talked with another agent last night about it, he told me he had a listing marketed as a rental. A $500,000 house renting for $1200. The point is, they are placing erroneous info on the listings regardless of the whether or not it is a listing. And in some cases, if it is a rental. As realtors, it is a matter of time, if not already, before we get fines, reprimands, etc regarding advertising of listings that aren't listings.