54 min

Industry Relations Episode 60: Unpacking the Panic Around Zillow’s Acquisition of ShowingTime – with Nick Bailey, Chief Customer Officer at RE/MAX Industry Relations with Rob Hahn and Greg Robertson

    • Technology

As the real estate industry has evolved, we’ve been trained to focus on who owns the data. And Zillow’s acquisition of ShowingTime has many concerned about sharing their data with the proptech giant. But what if hoarding your data is not the only way to compete with a company like Zillow? What if it’s not really about access to the data but what you do with it?
Nick Bailey is the Chief Customer Officer at RE/MAX. With nearly 25 years of industry experience, Nick served as an agent, broker and proptech vendor before becoming the head of a major real estate franchise. On this episode of Industry Relations, Nick joins Rob and Greg to share his take on Zillow’s acquisition of ShowingTime and what’s behind the industry’s emotionally-charged reaction.
 
Nick offers insight on how the data Zillow acquired was already publicly available, explaining why that information doesn’t necessarily give the tech company a competitive advantage and reminding us that it’s not unusual for companies at scale to offer various products and services to the industry at large. Listen in for Nick’s perspective on what we can do to improve the process of buying or selling a home for consumers and find out why you shouldn’t panic about Zillow’s acquisition of ShowingTime.
What’s Discussed:  
Nick’s background as an agent, broker, tech vendor and head of a major real estate franchise
Why Nick sees Zillow’s acquisition of ShowingTime as one tech company acquiring another to make the process of buying and selling homes easier for consumers
How ShowingTime’s market share influenced the industry’s emotionally-charged reaction to its acquisition
Nick’s argument that the data Zillow has acquired was already publicly available
How Nick addresses the objection that the ShowingTime acquisition forces agents and brokers to provide Zillow with a competitive advantage
How it’s not unusual for companies at scale to offer various products and services (e.g.: RE/MAX’s acquisition of Motto Mortgage)
What Nick is doing to educate agents around the spirit of cooperation in the industry
How Nick thinks about whether Zillow is a RE/MAX competitor
What the real estate industry can do to improve the fragmented process of buying or selling a home
Nick’s insight on what differentiates RE/MAX in a competitive industry that includes a growing number of iBuyers
The trend toward a greater concentration of power among fewer agents and how that might contribute to the panic around Zillow
Nick’s advice for MLS, franchisor and large brokerage CEOs on using data to identify trends and create contingency plans accordingly
 
Connect with Nick:
 
Nick at RE/MAX
Nick on LinkedIn
 
Connect with Rob and Greg: 
Rob’s Website
Greg’s Website
Resources:
ShowingTime’s Press Release on Its Acquisition by Zillow
Nick’s Video on Zillow’s Acquisition of ShowingTime
Market Leader
Rob’s Post on Zillow, ShowingTime & Paranoid Realtors
First App
Steve Murray at REAL Trends
Motto Mortgage
NAR Code of Ethics
We Are RE/MAX on Facebook
Brad Inman’s Piece on Zillow & ShowingTime
Gary Keller’s 2021 Family Reunion Vision Speech Recap
The Art of the CMA: Win Hearts, Minds, and Loyalty by Mastering Real Estate’s Most Versatile Tool by Greg Robertson 
Dave Liniger at RE/MAX
 
Our Sponsors: 
 
Cloud Agent Suite
Notorious VIP

As the real estate industry has evolved, we’ve been trained to focus on who owns the data. And Zillow’s acquisition of ShowingTime has many concerned about sharing their data with the proptech giant. But what if hoarding your data is not the only way to compete with a company like Zillow? What if it’s not really about access to the data but what you do with it?
Nick Bailey is the Chief Customer Officer at RE/MAX. With nearly 25 years of industry experience, Nick served as an agent, broker and proptech vendor before becoming the head of a major real estate franchise. On this episode of Industry Relations, Nick joins Rob and Greg to share his take on Zillow’s acquisition of ShowingTime and what’s behind the industry’s emotionally-charged reaction.
 
Nick offers insight on how the data Zillow acquired was already publicly available, explaining why that information doesn’t necessarily give the tech company a competitive advantage and reminding us that it’s not unusual for companies at scale to offer various products and services to the industry at large. Listen in for Nick’s perspective on what we can do to improve the process of buying or selling a home for consumers and find out why you shouldn’t panic about Zillow’s acquisition of ShowingTime.
What’s Discussed:  
Nick’s background as an agent, broker, tech vendor and head of a major real estate franchise
Why Nick sees Zillow’s acquisition of ShowingTime as one tech company acquiring another to make the process of buying and selling homes easier for consumers
How ShowingTime’s market share influenced the industry’s emotionally-charged reaction to its acquisition
Nick’s argument that the data Zillow has acquired was already publicly available
How Nick addresses the objection that the ShowingTime acquisition forces agents and brokers to provide Zillow with a competitive advantage
How it’s not unusual for companies at scale to offer various products and services (e.g.: RE/MAX’s acquisition of Motto Mortgage)
What Nick is doing to educate agents around the spirit of cooperation in the industry
How Nick thinks about whether Zillow is a RE/MAX competitor
What the real estate industry can do to improve the fragmented process of buying or selling a home
Nick’s insight on what differentiates RE/MAX in a competitive industry that includes a growing number of iBuyers
The trend toward a greater concentration of power among fewer agents and how that might contribute to the panic around Zillow
Nick’s advice for MLS, franchisor and large brokerage CEOs on using data to identify trends and create contingency plans accordingly
 
Connect with Nick:
 
Nick at RE/MAX
Nick on LinkedIn
 
Connect with Rob and Greg: 
Rob’s Website
Greg’s Website
Resources:
ShowingTime’s Press Release on Its Acquisition by Zillow
Nick’s Video on Zillow’s Acquisition of ShowingTime
Market Leader
Rob’s Post on Zillow, ShowingTime & Paranoid Realtors
First App
Steve Murray at REAL Trends
Motto Mortgage
NAR Code of Ethics
We Are RE/MAX on Facebook
Brad Inman’s Piece on Zillow & ShowingTime
Gary Keller’s 2021 Family Reunion Vision Speech Recap
The Art of the CMA: Win Hearts, Minds, and Loyalty by Mastering Real Estate’s Most Versatile Tool by Greg Robertson 
Dave Liniger at RE/MAX
 
Our Sponsors: 
 
Cloud Agent Suite
Notorious VIP

54 min

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