Zillow Quits Home-Flipping Business, Cites Inability to Forecast Prices
“But Chief Executive Rich Barton said Tuesday that Zillow had failed to accurately predict the pace of home-price appreciation, marking an end to a venture the company once said could generate $20 billion a year.”
The irony is so thick here you could cut it with a knife.
Does this mean Zillow.com will switch back to syndication feeds now that they are no longer actively endeavoring? Referrals aren’t sufficient to meet the requirements of actively endeavoring and if they’ve left the traditional definition of actively endeavoring as a participant they’ll need to maintain VOW and another feed for public display.
I can’t see them ever going back to when agents are fighting to give them a 35% referral fee. But I’d sure love to see them step out of DotLoop and ShowingTime.