Last month, Zillow reported its fourth-quarter earnings in its shareholder letter, which included highlights like a revenue of $789 million and a net income of $46 million, in addition to full-year results for 2020.
But what’s interesting to me, which I’ll pointed out, is the average monthly unique users — a fourth-quarter record of 201 million visitors on their website. For the full year of 2020, Zillow reported another record of 9.6 billion of mobile and website visits.
Zillow’s shareholder letter is further proof that the individual solo agent is dead. Zillow is competing, as CEO and co-founder Rich Barton mentioned in the letter, against “an industry of largely single-point solution providers.”
“The single agent cannot compete against 9.6 billion [visits],” Byron said. “They don’t have time to brand themselves, be a great negotiator, be an educator for their consumers and for their community, be able to able to farm and market to their community, be a writer, be a photographer … ”
(My thoughts bring it on Zillow)