Zillow Continues Market Dominance
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Reminds me of the Housing Industry’s movie version of “Independence Day “
Famed investor featured in “The Big Short”, Steve Eisman, is shorting their stock, says they have “a flawed business model”.
The story was on CNBC yesterday.
Yes, the MLS is using 1960 ideas, and zillow is using 2020 ideas. The challenge zillow has is data security… and it’s employees…. they have the data, and they will probably have an internal hack… if it happens to the big banks etc. it could happen to them.
Saw this…“I would say Zillow has one of the most flawed business models I’ve seen in a very, very long time,” – Steve Eisman, an investor from the “Big Short”. On average, Zillow lost $2,916 on each home it sold in the 2nd quarter after interest payments, earnings data shows. (CNBC)
So it seems that “profit” is a relative term…to what??? Hummm…
Thinking about Zillow and other like, it seems to me that we have to start looking at companies from a different perspective. Zillow already proved to the world that their Zestimate algorithms, worth 0 !Now they come and scream out loud, our new algorithm will put many real estate agents out of business because it will do miracles to the best agents.Let me make it clear to all those who don`t know how things work in the real world of Zillow and other like.People only look at Revenues, rather than the full financial picture Balance Sheet, Cash Flow, and Income Statement.For Zillow and like other their Stock is
the product.This is where they aim to make money. Premier agent, iBuyer, it is all a cover up. Zillow continues to lose money, lots of money. Many people wonder how Zillow can continue in business as normally if they lose money long term, they can go out of business. Zillow does not care if they lose money because they make far more money off of the stock price increases.The real business for Zillow isn’t real estate, it is making money through their stock price increases.
“Barton has made it perfectly clear that they not only don’t want the crappy agent’s money, they fully plan on putting them out of business”
STOP PUTTING YOUR LISTINGS ON ZILLOW!
A lot of companies don’t make money on their consumer products (like Google). Instead they sell the consumer’s information to government agencies, big data, marketing firms and retail corporations.