Zillow Launches April Preview Program; Redfin Prioritizes Compass 'Coming Soon' Listings with Buyer Incentives

ZGZG

Zillow's Preview program launching in April will let agents at major brokerages publicly list 'coming soon' homes with priority placement on Zillow and Trulia. Redfin's 'coming soon' feature, live since March 16, highlights Compass listings and offers buyers a 1% first-year rate cut or up to 0.75% loan credits.

1. Zillow Preview Program Launch

Zillow will roll out its Preview program in April, enabling agents at participating brokerages such as Keller Williams, RE/MAX, HomeServices of America, Side and United Real Estate to publicly market pre-market 'coming soon' listings. These listings will receive priority placement on Zillow, Trulia and brokerage websites throughout the preview period.

2. Zillow Listing Requirements

All Zillow Preview listings must include at least one photo, full address, listing price, property specifications, tax and HOA fee information, showing instructions, listing contract date and expected on-market date. Agents can link to their brokerage and personal sites, while buyers can contact agents directly or schedule tours once listings go live.

3. Redfin 'Coming Soon' Collaboration

Redfin launched its own 'coming soon' feature on March 16 through a partnership with Compass International Holdings, displaying Compass agent listings exclusively on Redfin with prioritized search results. Listing agents receive buyer leads via a 'contact agent' button and must claim leads within 24 hours before they pass to the Compass Leads Program.

4. Buyer Incentives and Market Effects

Eligible buyers working with Compass agents gain access to Rocket Preferred Pricing, offering a 1% first-year interest rate reduction or a lender credit of up to 0.75% of loan value (capped at $6,000). This integration of search, agent services and financing aims to boost pre-market supply and streamline the homebuying process.

Sources

F