Instant Offers and What to Do About Them

2017 has brought a lot of change and disruption to the real estate industry—some good, others upsetting at the very least. In the spring, Zillow announced Instant Offers, allowing homeowners to potentially cut out the agent. This is one of many efforts to remove real estate agents from the transaction, but client satisfaction may say otherwise.

What is Instant Offers?

Instant Offers connects homeowners with investors, helping them receive multiple offers based on their "home details and comparative sales." All the homeowner has to do is answer some questions, submit some photos, and pick an offer from a verified investor. They then schedule a free home inspection and close on the date they choose. It's that simple.

What this means for agents

For obvious reasons, Instant Offers can seem very attractive to homeowners. There is little to no work needed and they get to do it all on their own schedule. Plus, they don't have to pay any fees to an agent.

What these homeowners don't take into account is having someone they can depend on, call when they need help or advice, and trust what's going to happen with the transaction. Given that Instant Offers is new, many homeowners will shy away from it because of fear of the unknown. Because we're humans, right? We want security. We want to know the largest transactions of our entire life are going to go smoothly.

How agents and brokerages can combat this

People don't buy luxury cars just for the car. They buy them because they also get incredible service and are never left stranded on the road, waiting for a tow truck they had to call themselves. They buy them for the unreal customer service, knowing they are in good hands. Real estate agents are that person for homeowners and home buyers everywhere. You provide comfort and, most importantly, are someone to depend on.

Stay true to your clients. Your clients will choose you over Zillow again and again if you've earned their trust and confidence as their advisor. They know you, they've transacted with you, they want you to handle the transaction for them. Earn your client's trust to get and keep their repeat and referral business.

Although the real estate world is turning to tech for just about everything, there is something to be said about the human element, which Instant Offers doesn't provide. Never doubt your importance when it comes to couples, families, and loved ones going through a major transition in their lives.

We firmly believe brokerages and agents play a vital in real estate. Moxi Works helps agents be more productive, while making brokerages more profitable. Find out more at moxiworks.com.