Zillow Group CEO Rich Barton recently spoke at the T3 Leadership Summit, where he emphasized the company’s tech-influenced past and present. Barton highlighted Zillow’s roots at Microsoft and the importance of creating an environment where tech-savvy individuals can thrive. He discussed the company’s efforts to expand its digital offerings and diversify revenue streams through acquisitions of products popular among agents, as the real estate industry continues to move towards a technology-driven future.
Barton stressed the value of agents in Zillow’s future plans, noting that the company has made strategic decisions to affect digital change in the real estate industry. Through acquisitions like ShowingTime and Follow Up Boss, Zillow has been able to move towards the home purchase transaction process and offer an integrated set of services and tools for the industry as a whole. More than half of Zillow’s revenue comes from streams other than its Premier Agent business, and the company is focused on further integrating into agents’ day-to-day business with new features planned for Follow Up Boss.
While discussing the sweeping changes coming to the industry, Barton advised the audience to resist the urge to chaos and maintain focus during moments of change or uncertainty. He highlighted Zillow’s efforts to educate consumers about the changing real estate world and emphasized principles of access, representation, and compensation. Barton mentioned the importance of providing free, fair, and transparent access to listings as a cornerstone of Zillow’s ethos and the unique aspect of the U.S. residential real estate model.
Drawing from his experiences as the CEO of Expedia during the 9/11 attacks, Barton shared stories of overcoming challenges in uncertain times. He compared the impact of the pandemic on the real estate industry to the aftermath of 9/11 and emphasized the importance of keeping focus and delivering for customers during chaotic times. He shared a personal story about learning to drive and the advice his father gave him to “kill the squirrel”, which he interpreted as a reminder to stay focused and deliver despite challenges. Barton encouraged the audience to maintain a steady course and remain committed to serving customers during tumultuous times.
Overall, Rich Barton’s presentation at the T3 Leadership Summit highlighted Zillow’s commitment to innovation, technology, and growth in the real estate industry. By focusing on digital transformation, integrating new tools and services, and supporting agents in their daily work, Zillow aims to drive change and progress in the industry. Barton’s advice to resist chaos, stay focused, and deliver for customers reflects Zillow’s dedication to providing value to consumers and industry professionals alike. The company’s efforts to educate and inform consumers, promote transparency, and adapt to evolving market conditions demonstrate its commitment to making a positive impact in the real estate world.
