Byron Lazine and Nicole White are two brokers in Connecticut who give us their ideas on the week’s information each Friday in “The Real Word,” a weekly video column on Inman.
Final month, Zillow reported its fourth-quarter earnings in its shareholder letter, which included highlights like a income of $789 million and a internet revenue of $46 million, along with full-year outcomes for 2020.
However what’s price taking note of, as Byron identified, is the typical month-to-month distinctive customers — a fourth-quarter document of 201 million. For the total 12 months of 2020, Zillow reported one other document of 9.6 billion of cell app and web site visits.
In line with Byron and Nicole, Zillow’s shareholder letter is additional proof that the person solo agent is lifeless. Zillow is competing, as CEO and co-founder Rich Barton mentioned within the letter, in opposition to “an business of largely single-point resolution suppliers.”
“The one agent can not compete in opposition to 9.6 billion [visits],” Byron stated. “They don’t have time to model themselves, be an important negotiator, be an educator for his or her shoppers and for his or her group, have the ability to in a position to farm and market to their group, be a author, be a photographer … ”
“There’s no time for any of that,” Nicole added.
Extra this week: Compass has grown quickly over the previous few years. Byron and Nicole analyzed what they paid to take action, after the corporate’s S-1 filing provided data on a few of its greatest acquisitions. (Assume: Pacific Union Worldwide, Paragon Actual Property and Contactually, to call just a few).
Marketeer of the week
Junk mail won’t be lifeless in spite of everything — a minimum of in response to this Inman article. Christy Murdock Edgar made the case for this old-school advertising and marketing technique within the digital world, however it solely works in case you do it proper.
Wish to nominate a “marketeer of the week”? Drop your ideas within the feedback part under, or shoot us an email.