U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old Today, 08:32 AM
 
165 posts, read 670,847 times
Reputation: 158

Advertisements

The question is was Spencer Rascoff 'pushed out' or did he 'jump'? Rascoff is replaced as CEO by Zillow co-founder and Executive Chairman Rich Barton who is returning to the CEO position after Rascoff's 9 year tenure as CEO in which he accumulated a deficit of $672M on Zillows Balance Sheet.

It seems that the recent changes to Zillows Premier Agent business which introduced auction based pricing were screwed up when Barton commented on the Zillow 4th Quarter Earnings Call "We allowed price to get pushed too hard with the auction-based model, and we miscalculated how important lead volume even the less transaction already nurture leads where to many of our PAs when we started more streaming and filtering. This and some negative macro conditions caused elevated churn. We have made modifications to remedy the situation and the churn rate is normalizing." Zillow announced a 2018 Loss of $89M on its IMT segment of which the major component is the Premier Agent business. The consolidated Losss for Zillow in the year was $151M before taxes including the Zillow Offers business. You don't have to be Einstein to understand why Zillow made a $151M Loss as they also reported a handful of executives received $149M in Share Based Compensation and a further Impairment Charge of $79M in the year on top of the $174Min 2017 as they write off non performing Trulia acquired assets.

Maybe Zillow is using its Zestimate algorithm to do their financial forecasts when you look at how horrible the financial performance of the company has consistently been since its launch on the Nasdaq.

https://seekingalpha.com/article/424...nscript?page=3
Reply With Quote Quick reply to this message

 
Old Today, 08:39 AM
 
Location: Cary, NC
32,422 posts, read 56,660,009 times
Reputation: 31154
Quote:
Originally Posted by Surbiton View Post
...Maybe Zillow is using its Zestimate algorithm to do their financial forecasts when you look at how horrible the financial performance of the company has consistently been since its launch on the Nasdaq....
But... But... Didn't anyone tell them that Zestimates are only "a starting point," and they should engage a professional?


Last edited by MikeJaquish; Today at 08:48 AM..
Reply With Quote Quick reply to this message
 
Old Today, 09:17 AM
 
1,024 posts, read 241,132 times
Reputation: 2076
Quote:
Originally Posted by MikeJaquish View Post
But... But... Didn't anyone tell them that Zestimates are only "a starting point," and they should engage a professional?

Like a professional who's going to low-ball the listing price of your home based on their estimate for a quick sale to put commission in their pocket as quickly as possible. That kind of professional? This is 2019. Everyone has access to the same information online and Zestimates are just another useful data point.
Reply With Quote Quick reply to this message
 
Old Today, 10:11 AM
 
Location: Cary, NC
32,422 posts, read 56,660,009 times
Reputation: 31154
Quote:
Originally Posted by rummage View Post
Like a professional who's going to low-ball the listing price of your home based on their estimate for a quick sale to put commission in their pocket as quickly as possible. That kind of professional? This is 2019. Everyone has access to the same information online and Zestimates are just another useful data point.

For Zillow?
More like a professional who understands for-profit business investment and financials.


For a consumer, what is the benefit of a Zestappraisal when the appraisers themselves tell you your really need to hire someone with a clue?
Reply With Quote Quick reply to this message
 
Old Today, 06:40 PM
 
Location: Just south of Denver since 1989
10,767 posts, read 28,912,644 times
Reputation: 6954
Isnít Tom an owner in Nextdoor too?
Reply With Quote Quick reply to this message
 
Old Today, 07:45 PM
 
265 posts, read 61,739 times
Reputation: 631
Quote:
Originally Posted by rummage View Post
Like a professional who's going to low-ball the listing price of your home based on their estimate for a quick sale to put commission in their pocket as quickly as possible. That kind of professional? This is 2019. Everyone has access to the same information online and Zestimates are just another useful data point.
Itís a worthless data point.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top