WHY EXPERIENCED INVESTORS ARE SO HAPPY ABOUT ZILLOW’S IMPLOSION Why are the most experienced real estate investors so excited about Zillow’s recent collapse? We should never relish in others' failures or distress. It is far better when we can all win together. Or when someone else is hurting, it is great if we can step in and help them out. Even if we are well compensated for that help in the process. However, in this case, Zillow’s demise comes as no surprise. It may only be shocking that they survived this long. True real estate pros are excited because they are glad that Zillow can no longer fool people with their product and business practices.
Zillow Crumbles After throwing everything it had at trying to flip houses with its iBuyer program, Zillow recently announced that it was admitting defeat. They pulled the plug on this venture, after putting all of their resources into it, and making it their main business. This also means they are laying off around 25% of the staff involved. Their stock crashed, erasing about 75% of its value this year.