Zillow Group (NASDAQ: Z, ZG) has provided a timeline for the implementation of its new listing access standards.
Last month, Zillow announced it was enacting the National Association of Realtors’ (NAR) Clear Cooperation Policy with “new standards for listing transparency” that bans private listings from its platform. The policy mandates that listings which are publicly marketed in any platform, including social media postings, must be in the MLS and published on Zillow, as well as other sites that receive MLS feeds. Zillow stated it would not publish listings that fail to meet those standards.
In a corporate blog posting published today, the Seattle-headquartered company announced the standards will go into effect on May 28. On that day, agents with listings that do not meet the new standards will receive a notice from the company.
“Each non-compliant listing will be logged as a single violation and the listing agent will be notified directly about each violation,” the company stated. “Beginning June 30, an agent’s third non-compliant listing — and any subsequent non-compliant listings — will be blocked from Zillow and Trulia for the life of the listing agreement between that listing broker and seller. Listings that comply with the standards will be on Zillow and Trulia, regardless of an agent’s past violations.”
Zillow added that listings will be allowed if they are “also only shared among agents within the listing brokerage and the seller has signed a waiver or opt-out form, specifically asking for the listing to be withheld from the MLS and MLS participant sites — and the waiver details any potential drawbacks to marketing the home in this way.” The company will also allow “delayed marketing or coming soon listings entered into the MLS and available to all MLS participants.”
How does this effect rentals for lease. I am with an MLS and even though they list all properties with Zillow, they don’t list rentals. Can I continue to add my rentals to Zillow?
If Zillow allows listings that are only shared among agents within their listing brokerage, isn’t that contradictory to transparency as that listing is not complying with the new standard for listing transparency and is a private listing, that Zillow said they would ban from their platform?
Should not support them. They stole our data and made us pay them for the traffic of our own data.
Thank you, Zillow.