Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| If we do all that, we should be well positioned based on where we are today |
| But where we feel confident is we look at the oldest markets, and we say, wow, we're seeing these transaction share gains in these oldest markets |
| That's a pretty interesting time to be at the company, and one that I think we as employees are super excited about |
| Beyond that, how it plays out, when it plays out, it's hard to tell but we are kind of sticking in those principles to make sure that we feel really well positioned |
| And then in a world like that folks like us providing great customers and providing great customer experiences should be really well positioned |
| What we do care most about is build best customer experiences, make sure we have biggest brand audience engagement and build great tools for agents |
| This won't be the cost structure forever, but we feel like we're well invested to hit that 3% to 6% range, and we can get great leverage off of that base |
| So we think long-term the margin structure is really, really attractive, but we'll be ultimately driving double-digits revenue growth and modest margin expansion as we take advantage of the growth opportunities we see in 2024 |
| And we think we're fairly uniquely positioned to do so |
| So, what we can control, we feel good about |
| And it's -- I think it's beneficial for them because it's a great source of customer demand |
| One really important one was, we saw our transaction share in our oldest enhanced markets in Phoenix and Atlanta, grow by 80% and 90% respectively over two years |
| That's a really, really good team |
| For them, they're able to build what we think will be a pretty high-margin revenue opportunity |
| We're quite proud of it |
| We feel quite good about our fixed re-sourcing, to achieve our transaction share goals through 2025 |
| I mean -- so I think the rental segment makes up less than 20% of Zillow's revenue today, but the segment is growing really strongly, especially, over the past couple of quarters I think it was north of 30% for the past few |
| We will grow our revenue double-digits, accelerating throughout the year with the majority of that revenue coming from our new growth initiatives which is a great thing for us to be able to say, like we've spent two years really building |
| And then it also helps build that flywheel even more on the rental side, where we are building supply, we're building demand and ultimately, see a really interesting business opportunity well into the future |
| So, if we think about ShowingTime, as sort of like an open table for home touring, there's an opportunity for strong network effects among consumers and agents, optionality for high-margin revenue streams going forward |
| But as we get to a more normal cycle, we think that is a really, really good margin target for us |
| The reason we feel really well-positioned is because we think the asset we've built at the top of the funnel what Zillow is pretty differentiated and pretty defensible |
| The 3% to 6% would be a great mile marker and we'll be very proud of it |
| It also adds value because it underpins all that we're doing in real-time touring, which drives value to Premier Agents via more connections and better conversion |
| To-date we're seeing no impact and we feel really well-positioned |
| The driver is all of these new products coming in increasing the number of potential customers and then increasing conversions and increasing revenue per transaction |
| So it's mutually beneficial in that, we've added software revenue and it also helps drive the Premier Agent revenue |
| ShowingTime had been at it for 20 years building what we think is actually a really good network effect business, and we bought it with that in mind |
| We have grown really, really well |
| So, going back to the first answer great customer experiences, great consumer experiences, great partner software |
| Statement |
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| Matt Cost There's a lot of headlines there basically saying there are these challenges to the way the business is done in the residential, real estate industry |
| So we've invested through that and margins have come down accordingly |
| Rightly or wrongly, that's the perception that many people have |
| We think that would have been really harmful like that hurts the people that need housing most, right? And the average American consumer is working to get that down payment |
| That's one big problem that they have is there can be times in which being a real estate agent can be inefficient |
| Moving is tough |
| Those are the consumer pain points that we are trying to solve |
| We think that's not the right answer |
| I'm not too worried |
| And we're trying to solve a lot of pain points for the mover-consumer |
| That to us is critical for the real estate industry functioning the way that it does today, because there are a lot of really challenging knock-on effects that would happen, if that was for some reason broken apart |
| So it's not -- that always blows my mind |
| We've never had a hard time changing business models as needed |
| Why is that interesting? One, scheduling a tour in residential real estate is really hard |
| We don't think that anyone else is as well-situated to solve all of these problems because of the brand and engagement that we have today |
| There are a couple of factors |
| That's not really the driver |
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