Big Tech and the Real Estate Market

Decades ago trusts and monopolies existed through companies such as standard oil and US Steel, today these trusts and monopolies take a different form, one driven by social media and platforms, limiting the voice of their competitors. In recent years tech giant Facebook has been said to limit the content of those who support agendas that contradict their own, but Facebook is not the only tech company that is said to be limiting the voices of others for personal gain. According to HousingWire.com, there has been an antitrust lawsuit filed against Zillow and the National Association of Realtors. According to the article “Real Estate Exchange files antitrust suit against Zillow, NAR,” a recent update to Zillow now displays listings as “agent listings” and “other listings,” making it more difficult for consumers to see “other listings.” This comes just after Zillow acquired the service “Showing Time” which agents use to schedule home showings, and after Zillow began their own mortgage company. Decades ago trusts and monopolies were broken up to ensure the protection of the consumer; with a service as widely used as Zillow structuring themselves to mimic a monopoly more so than the listing service it was intended for, it may turn many homeowners and prospective buyers off who want to be sure their listings are showing up as much as “agent listings” even if they are considered “other listings” on Zillow. Cutting off a tech giant in today’s world is much easier said than done, in the case of Facebook, many would likely not have an alternative option due to their ownership of other social media platforms. The case for Zillow is much different, selling your home doesn’t always have to be on market and smaller more local companies who plan on purchasing homes as an investment opportunity are oftentimes much easier to deal with than a tech conglomerate who mainly markets the place. At Helpful Homes we strive to present sellers with a stress free and quick selling process that doesn’t involve tech giants that are said to discriminate against listings if they’re not held with a real estate agent. We buy houses in the triad of North Carolina for cash quickly and can work creative deals to help those who can’t sell their homes in the conventional sense. If you or someone you know needs to sell their homes and wishes not to deal with the complications of today’s overly technical market, give us a call!