Business & Investment

Zillow’s Gary Keller: “This is a fight and there is no way around it.”

The founder of Keller Williams said at KW Family Reunion that realtors would determine the fate of the industry with their dollar spending.

Realtors are trying to determine the fate of the industry with their dollar spending, Gary Keller, Executive Chairman KWx, Parent company Keller Williams Keller Williams said on Tuesday during a virtual family reunion event.

Gary Keller | Photo courtesy of Keller Williams

“History, people in your business have never voted for the future of the industry,” Keller said. Jason Abrams, With Keller Williams, Vice President of Industry Jay Papasan, Keller Williams, Vice President of Learning.

“If you write a check on Zillow, you’re voting for the world of Zillow,” says Keller. “If you write a check on Keller Williams, you will vote for the world of Keller Williams.”

Keller then specifically talked about using the company’s technology platform. Zillow announces acquisition of Showing Time, A $ 500 Million Real Estate Tour Scheduling Company.

“This is a fight and there is no way around it,” Keller said.

In the past, Abrams said realtors had all the different cards that make up the points of real estate transactions, from pre-shows to sales. But slowly Zillow picked up all those cards.

Before consumers start trading, the “pre-trading” phase of the real estate ecosystem has two important parts, both search and display. Zillow currently owns both a major consumer search portal and the acquisition of ShowingTime.

“If they add a lockbox to it, it will be the end of it,” Keller said. “That’s it. I was able to find a house, make an appointment, go see it, and go inside.”

In the actual transaction phase of the real estate ecosystem, Zillow lays even more foundation. The company currently offers mortgage components, closing services, transaction and contract management services via dot loops.Keller Williams who had a long-standing relationship with dotloop, Ended partnership with the company in 2020, I chose to use DocuSign instead.

Zillow does not agree to Keller Williams’ “non-harmful” terms and conditions, Keller said. He didn’t blame Zillow and didn’t try to cast it as “evil,” but said he believed Zillow wanted the data associated with dotloop.

Zillow’s invasion of real estate space and the general trend of technology occupying a larger chunk of repeat and referral space is the main reason Keller Williams has spent the last three years developing technology for agents. ..Company’s Customer relationship management (CRM) commands..

Around that ecosystem, Keller Williams built the Keller Cloud, connecting the entire technology ecosystem of the company.

“We don’t just have a website with a list,” Keller said. “It would have to be the entire transaction.”

Keller said he wouldn’t be surprised to announce that Zillow next bought his “favorite CRM.”

Keller Williams has spoken out about efforts to build technology and is often proud of it. It’s been exactly two years since Keller declared victory in the race to build a real estate technology platform.

When Keller focused heavily on technology, he paused to remember that he was “teased.” Two years later, other companies in the field have made the same change, Keller said. That’s the shift he said welcomed, before he added that these companies needed to move faster.

Keller also specifically addressed the CoStar Group’s entry into residential real estate. CoStar has been active in recent months. Get Homesnap, and Make a big bid to buy CoreLogic.

“When CoStar says,’We’re the savior of Zillow, we’re going to save you,’ the challenge is here,” Keller said. “They are late.”

Keller added that the CoStar Group, characterized as “data play,” has no worries about moving to residential real estate spaces.

“They are not real estate agents,” Keller said.

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Zillow's Gary Keller: "This is a fight and there is no way around it." Zillow's Gary Keller: "This is a fight and there is no way around it."

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