As the housing market appears to be still going through an accelerated drop with the industry falling to its lows in period of the last three years, Zillow company, which stocks are currently on the rise by over 12% with the last change in the market, believes that their new offers program can bring more revenues to the company in the upcoming period.
As Zillow representatives explained, the new “Uberized” targeted audience is used to buying and selling things online, which is why Zillow will offer instant solutions for buying and selling real estate through smartphones.
Zillow Predicting More Revenues in the Upcoming Period due to the New Offers Program
The Seattle-based company, Zillow, suffered a great deal when it lost almost half of its value since the company launched their service back in the second quarter of 2018, however, the company’s representatives announced that they will be investing more in their Zillow Offers Program, believing that the program is set to bring more revenues to the company in the upcoming period.
The company stated in one of their recent announcements that Zillow could see an additional revenue of 20 billion dollars on annual basis, over the course of the next 3 to 5 years, relying on the efficiency of the new Zillow Offers Program.
The co-founder of the company, Rich Barton, stated that he sees a strong parallel between Zillow and Netflix, stating that Netflix wouldn’t be as successful if it had refused to take a shift towards online streaming, creating a major change and attracting new users on annual basis, while DVD rentals went into oblivion.
The same case goes for Zillow, as Barton stated that the company’s Offers Program could change the way real estate s being handled when buying and selling.
However, although the program was launched back in 2018, Zillow is still not able to meet the policy made by Zillow, where the company is due to sell users’ property within the deadline of 90 days.