Zillow has announced that it is acquiring ShowingTime. ShowingTime provides an online scheduling platform for home showings for hundreds of MLSs, including Hawaii Information Service.
Nearly one million real estate agents use ShowingTime, which facilitated more than 50 million showings industry-wide in 2020. The $500 million acquisition is likely to have a significant impact on the real estate industry.
What do Zillow and ShowingTime say?
We contacted ShowingTime as soon as the news was announced to better understand its implications, and received the following direct statement:
“Bottom line, you can tell any agent that under ShowingTime’s privacy policy, your buyer and seller data is your own private data. We continue to run our business as we always have and your members should feel secure in their data.“
ShowingTime has since prepared a Frequently Asked Questions page. Among other things, it states:
“We will continue to be an open platform for all brokers and agents in North America… MLS contracts remain in force, protecting your data and what uses can be made of it and Zillow has stated that they will maintain ShowingTime’s existing data privacy policies.“
And in its announcement, Zillow confirms that “ShowingTime will maintain its existing data privacy policies and continue to operate as an open platform for its existing and new partners.“
Is Zillow’s MLS membership a factor?
As you may be aware, last year Zillow established brokerages in many states, including Hawaii, and became a member of the MLS. As a REALTOR® member, Zillow must comply with all MLS rules, as well as the overarching rules and policies of the National Association of REALTORS®.
By extension, the REALTOR® Code of Ethics governs every broker’s duties to other REALTOR® members and how we communicate with and about other real estate professionals and organizations. Real estate professionals must also comply with all applicable state and federal anti-trust laws. Please keep this in mind when discussing Zillow with colleagues, clients, and the public.
What does this mean for our MLS?
For now, there will be no changes to the ShowingTime service and its availability to Hawaii Information Service members. ShowingTime says it has no plans to change pricing.
We continue to evaluate the potential impact of this acquisition, including a careful review of our ShowingTime agreement and the current policies and terms of both parties by our corporate counsel. We also welcome your feedback and questions, which we will do our best to answer as further details emerge.