To this point, we assumed that the iBuyer model would target homeowners willing to pay for convenience and that the average consumer would continue to employ a real estate agent—and earn more money for their patience. But Zillow’s Q4 numbers reflect that homeowners can actually make MORE selling to the platform than they would with a realtor. So, how does this information impact the potential market share of iBuyers moving forward? And how will it affect the way agents do business?
Today, Rob and Greg are discussing the change in leadership at Zillow, debating the company’s performance under Spencer Rascoff and Richard Barton’s motivation to return as CEO. They explore the possibility of a merger between Opendoor and Zillow, uniting the former’s mastery of workflow with the latter’s proficiency at lead flow.
Rob and Greg also speak to Redfin’s potential to adopt the iBuyer model and the way of thinking shared by Redfin and Opendoor. Listen in to understand the full implications of Zillow’s Q4 iBuyer unit economics learn how the iBuyer market may impact the industry in light of this new information.
Barton’s motivation to return to Zillow as CEO
Zillow’s performance under Rascoff’s leadership
Opendoor’s complementary mastery of workflow
Zillow’s hiring of Arik Prawer to run iBuyer operations
The shared philosophy between Redfin and Opendoor
The implications of Zillow’s Q4 iBuyer unit economics
How iBuyer unit economics may impact realtors
Connect with Rob and Greg:
‘Homeowners Net More Selling to Zillow Than with a REALTOR’ in Notorious ROB
‘Spencer Rascoff Out as CEO of Zillow’ in Vendor Alley
Mike DelPrete’s Presentation at Inman Connect
Gary Keller made a series of very bold claims when he announced the launch of the new KW tech platform at January’s Family Reunion conference, even going so far as to say that ‘the race to build the first end-to-end real estate platform is over and everyone else is competing for second place.’
Today, Rob and Greg are discussing Keller’s comments, questioning the decision to set the bar so high and sharing Brian Boero’s take on Keller’s hubris as that of a master showman rallying the troops. Rob asks how we might measure the success of the KW tech platform and how much big-time investments in tech truly impact agent productivity.
Rob and Greg also explore the idea that introducing new tech serves to ‘stop the bleeding,’ keeping agents and agent teams from leaving for tech centric brokerages like eXp. Listen in for insight around the performance of traditional brokerages that put big money in tech and learn why Rob believes the industry should stop fighting the last war and shift its focus to capital.
The hype around the launch of the Keller Williams consumer app
Boero’s take that Keller’s hubris is necessary to ‘rally the troops’
How we might measure the success of the KW tech platform
The dismal numbers reported in Realogy’s recent earnings call
How much tech investments truly impact realtor productivity
Why Rob believes the industry needs to focus on capital vs. tech
KW’s potential to systematize agent marketing through software
Connect with Rob and Greg:
2019 Clareity MLS Executive Workshop
‘Gary, Put Down the Bong’ in Vendor Alley
‘Gary Keller Declares Victory in Real Estate Tech Platform Race’ in Inman
‘Please Stop Fighting the Last War’ in Notorious ROB