"In the filing, Dupuis claims that under the Preferred Agent program, the fee an agent pays to Zillow varies depending on the sales price of the home, with fees running up to 40% of the agent's commission. She claims that this is above the typical referral fee of 25%. According to Dupuis, agents are willing to pay these fees as Zillow leads are an essential source of business for many."
"According to the complaint, Zillow tracks the number of referrals Premier and Preferred agents send to ZHL through Follow Up Boss (FUB), and that an agent's rating in the FUB system corresponds with the number of clients they send to ZHL for mortgage pre-approval. Dupuis goes on to claim that the higher an agent's rating is in FUB, the more leads Zillow sends them. Conversely, the lowest rating agents risk getting cut from the program, the complaint states."
"This complaint tells a onesided story that does not reflect how Zillow Preferred partners serve buyers or how we work with real estate agents, a Zillow spokesperson wrote in an email. Consumers are always in control of which agent and lender they work with, and Zillow supports agents who deliver strong outcomes for buyers by sharing clear information and helping them understand what they can afford."
Zillow rebranded its invite-only Flex program to Zillow Preferred. Dupuis alleges the Preferred Agent program charges agents fees that vary with the sales price, reaching up to 40% of an agent's commission, above a typical 25% referral fee. Agents reportedly pay because Zillow leads drive significant business. The complaint asserts Zillow tracks agent referrals via Follow Up Boss and ties lead volume to an agent's FUB rating, pressuring agents to send clients to ZHL for mortgage pre-approval. Dupuis characterizes this as an illegal tying arrangement and monopoly leverage; Zillow denies requiring referrals and calls fees industry-standard.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]