Industry Relations Episode 61: Diagnosing Zillow Angst – with Errol Samuelson, Chief Industry Development Officer at Zillow Group
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Zillow has been consumer-centric since its inception in 2006. And in the early days, the tech company didn’t pay much attention to agents. Now Zillow realizes that reducing friction for consumers means helping agents respond to online leads and schedule showings, for example. But is it too late to earn the industry’s trust?
Errol Samuelson is the Chief Industry Development Officer at Zillow Group. With 25 years of experience in proptech, he served in leadership roles at Realtor.com, Top Producer Systems and Move, Inc. before joining Zillow in 2014. On this episode of Industry Relations, Errol sits down with Rob and Greg to explain why Zillow is acquiring ShowingTime and explore what’s behind the industry’s volatile reaction to the announcement.
Errol discusses the real estate industry’s distrust of Zillow, acknowledging the frustration the tech company has caused over the years and assuring us that his team will not misuse ShowingTime data. Listen in to understand how Errol thinks about CoStar as a competitor and learn why he believes an industry without cooperation and compensation is not good for agents, brokers or consumers.
Why the real estate industry went apeshit over Zillow’s acquisition of ShowingTime
What problem Zillow is trying to solve by acquiring ShowingTime
Errol’s insight on the rumor that Zillow bought ShowingTime to keep it out of CoStar’s hands
How Errol thinks about the fact that people assume Zillow is lying
Errol’s acknowledgement of the frustrations Zillow has caused agents over the years and how the company’s behavior may have amplified the industry’s distrust
The possibility that social class and age are a factor in the industry’s mistrust of Zillow
The focus of Zillow’s Q4 earnings call (Zillow Offers vs. streamlining the consumer experience overall)
Why innovation in the lending space is limited by federal regulations
The unique opportunity Zillow has to innovate around ownership models
Errol’s thoughts on CoStar as a competitor and why CoStar’s success hinges on the government putting an end to cooperation and compensation
Connect with Errol:
Connect with Rob and Greg: