Good morning Is Zillow a monopoly? I recently spoke to CEO Jeremy Wacksman about how he played offensive and defense at the same time.
Wacksman went Microsoft‘S Xbox Division to join Zillow In 2009, real estate prices in the subprime mortgage crisis fell. In August he became in the middle of a completely different crisis in August – one that was stimulated by rising prices, higher mortgage interests and very close offer. Since then, the Zillow share has increased by more than 50%, which is powered by innovations like the AI-driven Zillow show case. This has determined the dominance of the real estate status of attracting 227 million clear visitors per month. “What we do is that we continue to make this process better and easier for those who buy, because then it will be better for everyone” Leadership next Podcast. “The category is very difficult. It is still very broken.”
But a war is currently being waged in the world of real estate. Broker compass recently a cartel lawsuit against submitted against Zillow argued that his new listing rules, which came into force on June 30th, are an abuse of his market position. (Zillow now requires that all publicly marketed offers are listed on Zillow within a day or can be banned from his website – stopping compass To keep from the website from some lists for a while.)
Wacksman points out that the United States is “the only market in the world where we, as a buyer and seller and our agents, can see all lists for free. There are a handful of companies that really want to undo this cooperation, and really put the internet back into the box and keep its offers for itself and you pay for access to this list.
Kompass naturally has a different attitude. You can watch our conversation here Or you can listen to it Spotify or Apple.
Further news below.
Contact the CEO every day via Diane Brady diane.brady@fortune.com
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