This note to Zillow's shareholders in their fourth quarter report. Just to pull out what I consider the important point, so that you don't miss it, they say "We are in the midst of a multi-year journey to expand Zillow beyond the place people turn to 'search and find' real estate, to the brand people also trust to help them buy, sell, rent and borrow..."
Hmm... Zillow has claimed for many years that they have no interest in taking over the real estate world... an accusation that has been hounding them for years. And now, they have sent a letter to their shareholders indicating that they are trying to become the place consumers come to to buy & sell (and borrow).
Aren't those the jobs that we currently perform?
And, don't get me wrong... I'm okay with healthy competition in the marketplace... even stiff competition as Zillow clearly is. But at the same time that Zillow appears to be targeting our jobs, we are also feeding them. According to their fourth quarter report they anticipate income from Premiere Agents (that would be agents like us) to be close to one-billion-dollars.
We are "funding" their efforts to enter and dominate our business.
Please feel free to let me know if I'm misreading this... but it seems a little like feeding the shark with my own body parts.