Authors KiD 💰
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Quick recap of Zillow’s Q4 earnings report/call $ZG $Z
The Premier Agent business is prob as strong as it has ever been.
Normalized for some accounting nuances, QoQ growth was 20% in Q3 and 27% in Q4.
YoY growth was 13% in 2020 despite a 17% decline in Q2 related to the pandemic.
Reading the tea leaves, it sure sounds like Flex is one of the main drivers of PA revenue acceleration. This is something we talked about in Q3, 2019 when the stock had sold off by 20%+ and was trading in the low 30s
Not gonna claim iBuying is inevitable nor a “good” biz but even skeptics must admit the segment looks more viable today.
And we can all agree iBuying is clearly the superior customer experience compared to the tradition home selling process.
Maybe the most interesting comment made on the call?
The Zestimate will be a live initial offer in some iBuying markets this year 👀
The Premier Agent business is prob as strong as it has ever been.
Normalized for some accounting nuances, QoQ growth was 20% in Q3 and 27% in Q4.
YoY growth was 13% in 2020 despite a 17% decline in Q2 related to the pandemic.
Reading the tea leaves, it sure sounds like Flex is one of the main drivers of PA revenue acceleration. This is something we talked about in Q3, 2019 when the stock had sold off by 20%+ and was trading in the low 30s
Takeaway No. 2\ufe0f\u20e3:$ZG is expanding its @PremierAgent Flex program.
— KiD \U0001f4b0 (@kidkapital) August 8, 2019
This is crucial so let me explain.
Not gonna claim iBuying is inevitable nor a “good” biz but even skeptics must admit the segment looks more viable today.
And we can all agree iBuying is clearly the superior customer experience compared to the tradition home selling process.
Maybe the most interesting comment made on the call?
The Zestimate will be a live initial offer in some iBuying markets this year 👀