Zillow offering 7-day ‘touring agreement’ for agents.
ZIllow is getting creative with this buyer-agent tour agreement. The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules. ZIllow is getting creative with this buyer-agent tour agreement.
Zillow isn't obligated to provide consumer-facing agreements following the proposed NAR settlement; however, we see this as a chance to offer tools that help the industry meet these requirements with the consumer's interests in mind. We understand that the specifics of these agreements will differ from state to state, but we encourage the industry to adopt a non-exclusive, short-term agreement for initial tours conducted by an agent with a potential buyer.
The Importance of Buyer Agreements
Buyer agreements are essential because they clearly define the services an agent will provide to a client. Imposing a long-term exclusive agreement with one professional from the outset can detract from the consumer’s experience, as it limits their ability to meet and evaluate multiple agents or to take sufficient time before deciding to commit to one. In simpler terms, most people prefer to explore their options before deciding to commit exclusively.
Links I Used
Agreement: https://bit.ly/3UD1Jhl
Zillow Blog: https://www.zillowgroup.com/news/zill...
NAR Settlement FAQ: https://www.nar.realtor/the-facts/nar...
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