For real estate agents and those who are interested in knowing some facts about the current climate of how some businesses operate - and a good reason why real estate buyers and sellers need to turn to an ethical and honest REALTOR®who is dedicated to their community and commitment in serving people, you may be interested in the following.
Did you know Zillow owns Dotloop?
If you are concerned that Zillow may have access to your Dotloop transaction data, well... that gut feeling you are now experiencing may just make to want to check your account.
According to Broker Mint, in 2015 when Zillow acquired Dotloop - Dotloop offered a privacy guarantee. However, in 2020 that changed. "Now, you have to opt-out of Dotloop data sharing with Zillow. So, by default, Zillow has access to your Dotloop transaction data dating back to 2016."
"This acquisition immediately raised concerns for brokerages and agents who use Dotloop. As a transaction management software, Dotloop stores a variety of sensitive transaction data – like forms, contracts, client info, and more.
And, with their pre-Zillow data policy, Dotloop owned all customer transaction data – and had permission to use it however they wanted. Dotloop’s data privacy policy wasn’t unusual in the business software world. But, it became abnormal when Dotloop was acquired by a company that competes with its customers. As the owner of Dotloop, Zillow got access to all this information. This was problematic because Zillow regularly “makes moves that don’t seem in the best interests of brokers, agents, or their clients,” according to Sam Debord, CEO of RESO."
Article: https://blog.brokermint.com/.../zillow-and-dotloop-what...
Here is a list of businesses that Zillow owns that you should know about:
1. Buyfolio
2. Diverse Solutions
3. dotloop
4. Hotpads
5. Mortech
6. Mortgage Lenders of America
7. Naked Apartments
8. Postlets
9. RentJuice
10. Retsly
11. StreetEasy
12. Trulia
Article: https://theamericangenius.com/.../what-companies.../amp/
Did you know that Zillow Partnered with iBuyer Opendoor? According to FloridasRealtor.org “Zillow canceled its own iBuying program but just announced a new iBuyer affiliation that combines Zillow’s audience with “Opendoor.”
Article: https://www.floridarealtors.org/.../zillow-partnering...
Did you know Opendoor just got fined $62 million in fines for misleading consumers?
Article: https://wraltechwire.com/.../opendoor-disciplined-by.../...
This now leads me to those seeking to sell or buy a home in today's market.
The biggest takeaway from this information is the importance of hiring a professional REALTOR®.
To those seeking to sell their home - you deserve to know the true value of your property.
Open Door has not only been hit with a whopping 62 million dollar law suite for misleading homeowners, the reality is many consumers don't do their homework.
Hiring a REALTOR® will help you avoid such pitfalls.
“Opendoor promised to revolutionize the real estate market but built its business using old-fashioned deception about how much consumers could earn from selling their homes on the platform,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, in a statement. “There is nothing innovative about cheating consumers.”
Opendoor and other online so-called real estate companies are stealing from homeowners - don't let this be you! Do your research and connect with a professional REALTOR® when selling or buying property.
To Get the true value of your home call Brad or James at Coastal Abode and we will be happy to provide you a full report of what your homes worth, so when your ready to sell- you win!
