A recent study conducted by Morgan Stanley shows that Zillow Premier Agent Advertisers, those who pay extra to advertise on Zillow, have an increased number of dual agency transactions compared to other agents. According to the study, over 60% of Premier Agents reported that the advertising increased their dual agency transactions by about 30%. While that may be great news for the agents who get twice the pay for the same transaction, the National Association of Exclusive Buyer Agents (NAEBA), an organization of real estate agents that provide full representation to real estate buyers, reports that it’s not great news for consumers.
Numerous experts agree that dual agency is not in the best interests of the consumer. From the New York State Department of State Office of the General Counsel, “By consenting to dual agency, you are giving up your right to have your agent be loyal to you, since your agent is now also representing your adversary. Once you give up that duty of loyalty, the agent can advance interests adverse to yours. For example, once you agree to dual agency, you may need to be careful about what you say to your agent because, although your agent still cannot breach any confidences, your agent may not use the information you give him or her in a way that advances your interests.”
Zillow’s Premier Agent program may appear to be listing the best agents for a consumer, but it’s simply an advertising scheme. From their website, “The Zillow Premier Agent program is designed with the simple purpose of bringing agents more buyers, more sellers, and more business.” Any agent who is willing to pay for the program is listed as “elite.” It has nothing to do with the agent’s quality of service, experience, nor capability to represent their clients well.
“Real estate buyers deserve to have someone on their side throughout the transaction,” says Chris Whitehead, NAEBA President. “Settling on a Zillow Premier Agent who is unlikely to be loyal only to them is not in the consumer’s best interest.” To find an Exclusive Buyer Agent who will be loyal to you no matter which home you choose, click on Find an Exclusive Buyer’s Agent.The Buyer’s Agent of Asheville is dedicated to help clients find homes they can adore and afford. With its team of 10 experienced real estate brokers, The Buyer’s Agent of Asheville has been loyally assisting home buyers in the Asheville, North Carolina area. We’re focused to search for ideal homes without distractions, shady deals, and conflicts of interest. Please make an appointment to visit our offices at 82 Patton Ave, Suite 211, Asheville by calling our 24/7 service number: (828) 210-4663.