Keep pulling the thread on Jeremy Waxman.
80% of Zillow's traffic comes to the platform for free and directly, not through paid acquisition channels.
Zillow pivoted its business model from advertising to being transaction-focused, now measuring its success by the number of transactions it participates in.
Zillow's rentals marketplace now accounts for over 20% of the company's business and is projected to become its next billion-dollar business.
Zillow's policy requires that if a property is for sale, it must be listed on Zillow within 24 hours, or it will not be allowed on the platform at all.
Zillow's 24-hour listing policy is intended to protect market transparency and prevent companies like Compass from creating private, off-market listing databases.
The annual volume of U.S. home sales has fallen to 4 million in recent years, a 2 million unit decline from the historical average of 5.5 to 6 million.
Zillow estimates that the U.S. is underbuilt by nearly 5 million homes, identifying this supply deficit as the primary cause of the current housing affordability crisis.
Despite 60-70% of all homebuyers using Zillow, the company's share of actual real estate transactions is in the single digits.
Zillow has entered the loan origination business and is increasingly originating mortgages itself, a shift from its previous model as an advertising marketplace for lenders.
Zillow's market share in the mortgage origination business is measured in basis points, making it an "incredibly small" originator.
Zillow offers a CRM software product called Follow-Up Boss that is used by many top real estate agents.
Zillow's Showcase product uses AI to generate enhanced virtual tours, helping buyers evaluate properties remotely.