Please ensure Javascript is enabled for purposes of website accessibility
Zillow Is Losing Millions on Selling Homes. but Its Risk-Taking CEO Isn't Worried
News
By News
Published 5 years ago on
February 21, 2020

Share

[aggregation-styles]


Zillow has long been known as the place to go when you’re looking to buy a new home. It’s famous for its Zestimate, which uses proprietary algorithms to estimate the current price of your house (or your neighbor’s, if you’re feeling nosy).
But Zillow decided to shake things up.
In April 2018, the company announced it was launching Zillow Offers and would purchase homes directly from sellers, doing any necessary repairs before turning around to resell the house itself.
The model, known as instant buying, or “iBuying,” marked a major overhaul for Zillow’s core business. Up until then, the company had operated in a purely digital realm, removed from the headaches of owning or renovating actual brick-and-mortar properties.
At the company, the dramatic shift is known as “Zillow 2.0,” and CEO Rich Barton has laid out a bold vision, painting this moment as a “new frontier in real estate.” He wants Zillow’s service to eventually transform the industry so that selling a home is as easy as trading in a car. But first, he warns, the company and its shareholders have to be patient.
Read More →

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Rise of the Anti-“Woke” Democrat

Fresno Shooting Leaves Man Dead Near Griffith and Hughes

13 hours ago

Iran and Israel Say a New Wave of Iranian Missile Attacks Has Begun. Explosions Heard Over Jerusalem

13 hours ago

Vacant Fresno Restaurant Heavily Damaged in Early Morning Fire

An early morning fire caused significant damage to a vacant restaurant building in Fresno, the Fresno Fire Department reported.   ...

11 hours ago

A vacant Fresno restaurant was heavily damaged in a fire early Friday, June 13, 2025, morning, with no injuries reported and the cause under investigation. (Fresno FD)
11 hours ago

Vacant Fresno Restaurant Heavily Damaged in Early Morning Fire

12 hours ago

Visalia Police Make Arrest in Deadly Hit-and-Run

Michael Sanchez, 30, a Madera County inmate, who failed to return from a funeral day-pass was arrested Friday after a police chase and crash involving children. (Madera County SO)
12 hours ago

Madera County Inmate Arrested After Chase and Crash With Kids in Car

13 hours ago

Fresno Shooting Leaves Man Dead Near Griffith and Hughes

Israeli Iron Dome air defense system fires to intercept missiles over Tel Aviv, Israel, Friday, June 13, 2025. (AP Photo/Tomer Neuberg)
13 hours ago

Iran and Israel Say a New Wave of Iranian Missile Attacks Has Begun. Explosions Heard Over Jerusalem

A man in his 80s was found dead in Bass Lake on Friday, June 13, 2025, morning while attempting to launch a boat, authorities said. (Madera County SO)
13 hours ago

Man Found Dead in Bass Lake, Cause Under Investigation

U.S. Marines detain a person outside the Wilshire Federal Building after Marines were deployed to Los Angeles, as protests against federal immigration sweeps continue, in Los Angeles, California, U.S. June 13, 2025. (Reuters/Aude Guerrucci)
13 hours ago

US Marines Carry out First Known Detention of Civilian in Los Angeles, Video Shows

13 hours ago

Tensions Boil Between Arias and Dem Congressmembers

Help continue the work that gets you the news that matters most.

Search

Send this to a friend