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Zillow CEO, Jeremy Wacksman discusses company earnings and revenue growth from 2024 amidst a challenged U.S. housing market. He is joined by Bloomberg's Carol Massar and Tim Stenovec.See omnystudio.com/listener for privacy information.
Zillow operates with a remote-first model called "CloudHQ," established in March 2021, fully supporting remote work for its 6,800 employees over the past five years. CEO Jeremy Wacksman confirmed the approach has increased talent acquisition, with job postings quadrupling since the pandemic. Employees report high satisfaction due to the balance remote work creates between professional and personal responsibilities. While maintaining a flexible work culture, Zillow offers access to 15 office locations across the U.S. for in-person collaboration. The company aims to enhance its app for a more streamlined home buying experience, enabling buyers to make offers and finalize transactions online. Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.
Want the inside scoop on Zillow's future? Jeremy Wacksman, the CEO of Zillow Group, joins us for a rare and revealing interview. We dive deep into Zillow's strategy, including their highly anticipated super app and their vision for the future of home buying. Discover how Zillow balances serving both the real estate industry and consumers, and get Jeremy's unique perspective on the Clear Cooperation Policy. For anyone who wants to understand the forces shaping the future of real estate technology and the home buying experience this is the episode for you. Follow this link for the Consumer Housing Trends Report. Click here to read the Private Listing oped mentioned in the show. Connect with Jeremy on LinkedIn. Learn more about Zillow Group on LinkedIn - Facebook - X - Instagram - TikTok. And online at zillowgroup.com. Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube - Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com. Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod This podcast is produced by Two Brothers Creative 2024.
In this episode, we tackle the most pressing issues shaping the real estate landscape today. Michigan agents and brokers are taking the National Association of Realtors (NAR) to court, challenging the organization over antitrust concerns stemming from the recent commission settlement. We dive into what this lawsuit means for the industry and its potential ripple effects. Next, we explore the alarming statistic that 47% of online property inquiries are being ignored. In an era where digital engagement is critical, what does this say about the state of real estate marketing? We also introduce Zillow Group's new CEO, Jeremy Wacksman, and discuss his vision for the company amidst a rapidly changing market. Plus, we share Gary Keller's expert advice on navigating the recession and clearing up commission confusion—essential listening for agents and brokers alike. In market news, home prices continue to climb in 90% of metros, with Silicon Valley breaking the $2M ceiling. We'll discuss what's driving this growth and where the market might be headed next. On the investment front, fix-and-flip loans are going mainstream, attracting more investors into the market. What does this mean for housing availability and prices? Mortgage rates have dropped to their lowest level in over a year, prompting a surge in house tours. Could this be the sign that the housing market is heating up again? Meanwhile, the U.S. housing market is nearing a staggering $50 trillion in value, with the number of trillion-dollar metros doubling. What are the implications for buyers and sellers? For renters, there's some good news: asking rents have fallen across all bedroom counts for the first time in four years. We'll explore the factors contributing to this shift and whether it's here to stay. Additionally, we discuss the decline in the share of wood-framed homes in 2023 and what this means for construction trends moving forward. In political news, we analyze what vice presidential candidate Tim Walz, a non-homeowner, has done for affordable housing. And finally, Amazon's debut of a trio of tiny homes in response to the home affordability crisis is sparking interest—could this be a viable solution to the housing crunch? Don't miss this episode of tWiRE as we break down these critical topics and more. Tune in today at 10 PST / 1 EST. Subscribe, hit the bell for notifications, and join the conversation live on Clubhouse.
Zillow Group named a new CEO, longtime company executive Jeremy Wacksman, announcing that co-founder and two-time CEO Rich Barton will be shifting to the new role of co-executive chair of the real estate media and technology company, joining co-founder Lloyd Frink in the role. Barton and Wacksman join GeekWire co-founders John Cook and Todd Bishop to talk about the transition on this special episode.See omnystudio.com/listener for privacy information.
"Unlike other technology sectors, the cost of failure is extremely high, but it's not born by the organization. It's born by the user....And so while we learn and it's helpful for us to view [digital health pilots] as a funnel, that's an incomplete view of the world because there is a real cost to equipping users and then dropping support for the application and dropping support from the organization. So I think we do need to have that mindset, but also realize...you can't just fail for free." - Jonathan Jackson Today's episode is part 3 in a series looking back on pivotal time periods in Dimagi's story in honor of our 20th anniversary. Today we look back at the time between 2010 and 2014 when Dimagi received two rounds of funding from United States Agency for International Development (USAID) Development Innovation Ventures (DIV) program to test CommCare through dozens of pilots in India. This was a time of maximum learning velocity, as we got feedback from users across many organizations and applied it to get better and better every week. Jonathan Jackson and Amie Vaccaro are joined by Kriti Mehrotra, Impact Advisor Office of the CEO; Jeremy Wacksman, Global Director of Division Operations; and Sri Ranganathan, Director of Customer Success to unpack the learnings from this time period. Resources: https://confluence.dimagi.com/display/commcarepublic/Third-Party+Evaluations+of+CommCare DIV ROI report showing 24:1 Return on Investment of CommCare (see row 484): https://cpb-us-w2.wpmucdn.com/voices.uchicago.edu/dist/0/2830/files/2021/09/SROR-21.03.12_clean-3.pdf https://www.dimagi.com/blog/usaid-div2/
Zillow Slams the Brakes on Home Buying as it Struggles to Manage its Backlog of Inventory Zillow will stop buying homes through Zillow Offers for the rest of the year, as the company's iBuying program goes from full speed to full stop. The company announced on Monday it would not contract to buy any more homes in 2021 in order to work through the backlog of homes it has already bought. The "iBuyer" model used by Zillow and other real estate companies entails purchasing homes directly from sellers, and then re-listing the properties after doing minor work. But thanks to the current shortage on labor and materials, Zillow can't close, renovate and resell the homes fast enough. "We're operating within a labor- and supply-constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces," said Jeremy Wacksman, Zillow's chief operating officer, in a statement. "Pausing new contracts will enable us to focus on sellers already under contract with us and our current home inventory," said Wacksman. Zillow will still market and sell the homes it has acquired through Zillow Offers, which has been on a purchasing tear this year. It bought 3,805 homes in the second quarter -- a record high for the company and more than double the number of homes bought in the first quarter, according to a note to company shareholders. Zillow, known for its online real estate listings, introduced an iBuyer program, Zillow Offers, in 2018 and now operates in 25 cities. Like other iBuyers -- such as Opendoor, RedfinNow and Offerpad -- Zillow Offers uses data and algorithms about the property and the market to make a cash offer on an off-market home, and buys directly from the homeowner. IBuyers appeal to home sellers because closings can take place anywhere from 7 to 90 days after the contract is signed and can provide some certainty and control over the sale of their home without the hassle of finding an agent and prepping the house for market. According to Zillow, the fee to the seller for Zillow Offers averages 5%, but can vary based on market conditions. Home purchases by iBuyers now account for about 1% of the market, according to a report from Zillow. The share is still a tiny part of the whole market, but shows tremendous growth over the past few years as the iBuyer share in some cities, like Phoenix, Atlanta or Charlotte, North Carolina, now tops 5%. Zillow wasn't alone among iBuyers in buying a lot of homes this year. IBuyers bought more houses, at higher prices, in the second quarter of this year than in any other quarter, according to research from Mike DelPrete, an independent real estate technology strategist and scholar in residence at the University of Colorado Boulder. That has surprised some skeptics who did not think the iBuyer model would be appealing to home sellers in a hot market. His research suggests that sellers are drawn to the certainty and ease of iBuying and the market conditions fueled its growth. Zillow's move to halt purchases is surprising, he said, particularly because it is so sudden. "iBuyers have access to a tremendous amount of data, they can see months into the future and plan their inventory," said DelPrete. "So the fact that Zillow didn't see this coming and wasn't able to make adjustments before it had to resort to an iBuying lockdown is pretty surprising." This shift, he said, demonstrates how difficult this business model is to scale up. Large iBuyers need to be skilled at both managing billions of dollars in capital, but also the logistical specifics of prepping a home for sale, down to drywall and painting and closing deals. "There is only so much that technology can do," said DelPrete. "At the end of the day you need people to process a lot of transactions." However, the halt appears to be a Zillow-specific problem, not an iBuyer industry problem, DelPrete said. "Zillow just kept barreling down and now they've hit this wall," he said. This is not the situation a growth-focused company wants to be in, he said. "If you're trying to be number one in the market, slamming on the brakes is one of the worst things you can do," said DelPrete. "You want to make some adjustments before you get to that point -- slow down, switch gears. This is not the preferred outcome for Zillow." Opendoor, the leading iBuyer ahead of Zillow at a distant second, said in a statement it is still open for business.
U.S. housing prices are soaring, due to a combination of ultra-low interest rates, sky-high lumber prices and a supply-and-demand imbalance brought on by the pandemic. But with the federal foreclosure moratorium just lifted, things could soon change. Dan speaks with Jeremy Wacksman, COO of real estate tech company Zillow, to better understand what the boom means for consumers and the country, and how long it might last. Learn more about your ad choices. Visit megaphone.fm/adchoices
In episode 22 of Fly on the Wall, Brendan interviews Jeremy Wacksman, President, Zillow, about recent macro trends in the housing capital markets, both pandemic-related and otherwise. They cover the digitization of the home buying and selling process, predictions for the future of iBuying, and Zillow's vision for an “always on,” tech-enabled real estate market.Original release date: August 12, 2020Watch this episode at https://www.youtube.com/watch?v=XGTYSeRzQnELearn more about Fifth Wall at https://fifthwall.com/This podcast is presented for informational purposes only, is not intended to recommend any investment, and is not an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Fifth Wall Ventures Management, LLC or its affiliates (collectively, “Fifth Wall”; any such investment vehicle, a “Fund”). Any such solicitation of an offer to purchase an interest will be made by a definitive private placement memorandum or other offering document. Forward-looking statements and opinions as to real estate markets or any other matters, as expressed in this presentation, are those of the individual presenters, but are not necessarily the views of Fifth Wall as a firm, and cannot constitute a guarantee of future success or profitable results. As a result, investors should not rely on such forward-looking statements and/or opinions, or on anything else contained in this podcast, in making their investment decisions. Moreover, certain information contained herein may have been obtained from published and non-published sources prepared by other parties and may not have been updated through the date hereof. While such information is believed to be reliable for the purposes for which it is used herein, Fifth Wall does not assume any responsibility for the accuracy or completeness of such information, and such information has not been independently verified by Fifth Wall. This presentation speaks as of its publication date, and Fifth Wall undertakes no obligation to update any of the information herein.In addition, to the extent that any prior performance information is contained in this podcast presentation, prospective investors should bear in mind that past results are not necessarily indicative of future results, and there can be no assurance that any Fund will achieve results comparable to those of any prior or existing Fund or portfolio investment of Fifth Wall.None of the information contained herein has been filed with the United States Securities and Exchange Commission, any securities administrator under any state securities laws or any other domestic or foreign governmental or self-regulatory authority. No such governmental or self-regulatory authority has passed or will pass on the merits of the offering of interests in any Fund or the adequacy of the information contained herein. Any representation to the contrary is unlawful.This communication is intended only for persons resident in jurisdictions where the distribution or availability of this communication would not be contrary to applicable laws or regulations. Any products mentioned in this podcast may not be eligible for sale in some states or countries. Prospective investors should inform themselves as to the legal requirements and tax consequences of an investment in a Fund within the countries of their citizenship, residence, domicile and place of business.Investors should consult their own financial, tax, legal and other advisors in connection with any proposed investment and should carefully review all disclosures and descriptions of risk factors that are contained in relevant offering materials.
Ft. Mindy Kabelac - Assistant to Jeremy Wacksman, President, Zillow Group
Zillow was launched in 2006 with a boldly simple idea: to transform the way people buy real estate. The company took off immediately, growing largely through word of mouth. Yet it was paid media and advertising that enabled Zillow to build a nationally recognized brand, fuel sustained rapid growth, and become the world’s largest home related marketplace. In this exclusive podcast, Jeremy Wacksman discusses with TCV’s David Yuan how marketing shaped Zillow’s trajectory and lessons learned along the way.
Host Christian Terwiesch discusses current innovations and the potential future landscape in the Real Estate industry with Bob Goldberg, CEO of the National Association of Realtors, and Jeremy Wacksman, President of Zillow, on Work of Tomorrow. See acast.com/privacy for privacy and opt-out information.
Jeremy Wacksman, President of Zillow See acast.com/privacy for privacy and opt-out information.
In this week’s episode of “Marketing Today,” Alan talks with Jeremy Wacksman, chief marketing officer at Zillow Group, where he also oversees product management and strategy. Wacksman’s experience prior to joining Zillow includes leading marketing and product management for Xbox Live. He holds a B.S. in computer engineering from Purdue University and an MBA from the Kellogg School of Management at Northwestern. In his conversation with Alan, Wacksman focused on data and the role it’s played in changing the housing market and how Zillow recognized the importance of it to connect with consumers. “It all goes back to bringing transparency to the housing market through access to data,” says Wacksman. “And using that as a tool to drive both awareness for our brands and trust for our brands by consumers.” He goes on to add, “If you go back to our mission, and our strategy from the very beginning, it’s about empowering consumers to make those decisions. And when you think about that, then data is a natural place to start.” Highlights from this week’s “Marketing Today” podcast include: One commonality throughout Wacksman’s career has been a focus on the consumer. (1:41) For Wacksman, similarities between engineering and marketing abound. (6:04) Walksman discusses the thinking behind Zillow’s 3D Home product offering. (9:59) The role and impact of data on the housing market. (12:36) “What we really wanted to do was turn the lights on and show as much data as we could about every home.” — Wacksman explains the inspiration behind the founding of Zillow. (14:00) Wacksman reveals methodologies Zillow uses to stay nimble and focused as they grow. (15:59) Wacksman is passionate about unlocking consumer insights and removing roadblocks. (18:40) Support the show.
Advertising Influencers: Conversations with Marketing Thought Leaders
Jeremy Wacksman is the CMO of Zillow Group, an online real estate marketplace for renters, home buyers, homeowners, and realtors to find and share information about properties. Jeremy oversees marketing as well as product management and strategy for Zillow Group and its portfolio of brands within the real estate industry. Prior to joining Zillow, Jeremy drove marketing and product management for Microsoft’s Xbox LIVE and consumer mobile efforts, where he grew digital distribution for Xbox and led product strategy for a mobile incubation group. He also previously worked in product management and sales for Trilogy Software, a pioneer in ecommerce software. Jeremy is on the boards of directors for Rover.com and Room 77. Jeremy holds an M.B.A from the Kellogg Graduate School of Management at Northwestern and a B.S. in engineering from Purdue University. The topics discussed in this episode include obsessing about your persona, the two phases of retention, and how to not become paralyzed by your data.