What’s New in Enhanced Markets: May 2024

In May, Zillow introduced three significant updates to Enhanced Markets designed to improve the experience for agents, teams, and buyers. Here's what’s new:

Touring Agreement Pilot

• Zillow created a non-exclusive Touring Agreement, which is a template form we are providing to the industry as a whole that can be used where applicable and in compliance with local regulations and state law.
• The agreement covers touring activities only between buyers and agents. A small pilot test with the agreement was added to the touring product flow on May 1 for a few partners.
• The Touring Agreement was developed to lay the foundation for you to discuss compensation and exclusivity once you meet the buyer in person. This helps you and the buyer align on all terms and expectations with no surprises. 

Flex Addendum Update Regarding Leaderboards

• We recently updated the Flex agreement to provide clearer visibility into team- and agent-level performance rankings and expectations.
• The addendum will take effect on June 1. Partners and agents do not need to take any additional action for the terms to take effect.
• The update will help us recognize top performers and identify growth opportunities for partners. The goal is to foster a collaborative environment among team members across your market. 

Shared Notes for Agents and Zillow Home Loans Loan Officers

• Agents and loan officers will now be able to leave and view shared notes about their joint clients in the Premier Agent app and Follow Up Boss – in addition to text, email, and phone communications. 
• Agents will receive automated email notifications whenever a loan officer leaves a note about their client. 
• Streamlined communication like this ensures all parties are on the same page regarding a client's needs and status, helping you save time as you assist someone through their home buying journey.

Missed last month’s updates? Catch up here. 

Need to access key information about being an Enhanced Market partner? Check out our Enhanced Markets Resource Center.