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If this guy moved Zillow from $30MM to $1.2B in profits, he must have really messed up to step down in the best of times for Zillow. Maybe his “parachute” opened wide and he came down safely, maybe before the implosion!
RE brokers didn’t offload to Zillow. Zillow scraped (stole) our (RE professionals) work product from our MLSs, used it to develop a lead (buyer), and then sold that lead back to us or our competition.
Since Zillow is now selling homes, the industry should treat them as what they have always been – first place winner in the race to the bottom.
Zillow has information. Consumers have access to that information. But we know consumers are fickle. Once the excitment of ‘finding’ that information, they have to do the hard part. Apply the knowledge that the information provides… and having closed hundreds and hundreds of sales…. the consumer will grow tired of having to learn all this regulatory stuff, just to buy a house or sell a house…
So, if the info Zillow provides is free to the consumer, become the consumer and use this ‘free’ info to build your business and relationships. Zillow will and does give this same information to you, the agent, for free too.
Zillow buys houses for cash, I have dozens of people who buy houses for cash, too. And my cash buyers beat zillow’s offers every time!
Zillow isn’t the end of our business, but those who don’t understand how to use zillow’s free and consumer friendly information portal will be.