While the old tradition of broker cooperation via the MLS is slowly eroding, there is an opening for others to intrude. Two quotes seen this week in different articles: Founder and CEO Rich Barton said in a radio interview on April 1st that he sees Zillow Offers as...
It's out in the open now - Zillow intends to change the game. An excerpt from an interview with Rich Barton where he admits Zillow used agents to get big, and is now deciding how to use that power: An excerpt from I-News: Barton also indicated there could be major...
Mike has been the leading resource on the ibuyer industry, and he sees it the same way I do - Zillow wants (and needs) to commit fully to their ibuyer program because advertising income from agents is starting to lag, which could be a major shift in the...
Bloomberg has this article on Spence stepping down at Zillow yesterday: https://www.bloomberg.com/news/articles/2019-02-21/zillow-ceo-rascoff-steps-down-so-barton-can-lead-moonshot-effort Zillow must believe that flipping homes is their future: On average, a customer...
Hat tip to SM for sending in this detailed article about Zillow's contest to improve the zestimate. No surprise that the winner was a group of analyzers who blended the algorithms to move the needle a couple of ticks. If they would have asked me, I'd say score each...
Everyone is getting into the home-buying business. First it was the well-funded disrupters like OpenDoor and Offerpad, and then Zillow, Redfin, Knock and others jumped in - which caused Coldwell Banker, Keller Williams to also announce their programs (plus Compass...
After using Zillow for years, consumers probably start to cozy up to the zestimates, just out of familiarity and convenience. Those who are new to the game - and believe Zillow to be an authority - are going to think the zestimate is a neutral opinion of actual...
Hat tip to Eddie89 for sending in this article on the prospects of Zillow's ibuyer program, which looked a little sketchy to me too until it was divulged that these ibuyers are primarily in it to make the fee income, and if they can make a profit by selling the houses...
This might be the greatest sucker play in the history of housing. The I-news featured a story about the first five Zillow buys in Phoenix, and as you can see above, they are planning to lose money on all of them. The reporter also interviewed one of the homeowners...
Zillow's panel of economists is forecasting the next recession, with 66% of them predicting it will start between 4Q19 and 1Q21: Experts in housing are predicting a recession starting in 2020, according to Zillow’s 2018 Q2 Home Price Expectations Survey; however, they...
