The CEO of Zillow says we’re missing millions of homes (thanks to the recession)
Corner Office from Marketplace
Marketplace
4.8 • 545 Ratings
🗓️ 20 June 2018
⏱️ 18 minutes
🧾️ Download transcript
Summary
Spencer Rascoff has been at Zillow, the company familiar to many a person searching for a home or apartment, pretty much from the beginning. Since 2005, he’s weathered the housing crisis and another housing boom. And as CEO, he’s leading the real estate/tech/data company into a new market: buying and selling its own homes. He talked with us about where the housing market’s been and where it’s going.
Transcript
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| 0:00.0 | everybody it's kai risdol thanks once again for listening to the corner office podcast this time |
| 0:07.9 | we are talking about real estate and tech and media kinder spencer raskoff is the guest he's the |
| 0:14.5 | ceo he's been at the company since basically the beginning one of the founders really we're talking |
| 0:19.3 | about zillow deciding to start buying and selling homes on their own. |
| 0:23.2 | And housing throughout the financial crisis as well. |
| 0:25.3 | Also a broader conversation about where housing in this economy is today. |
| 0:31.5 | We're expecting you. |
| 0:33.0 | Won't you have a seat? |
| 0:34.1 | Ready to go to work? |
| 0:36.4 | Spencer Ascoff, good to have you in the studio. |
| 0:38.4 | Thank you. |
| 0:38.8 | Great to be here. |
| 0:39.7 | What does your company do? |
| 0:42.5 | We are a Zillow group. |
| 0:43.9 | So we operate a collection of real estate websites. |
| 0:46.1 | The largest is Zillow. |
| 0:47.6 | About 180 million people come to our websites every month to get information about real estate. |
| 0:52.0 | And they shop for homes. |
| 0:53.0 | They look for rentals. |
| 0:53.9 | They do all sorts of things related about real estate. And they shop for homes. They look for rentals. They do all sorts of things related to real estate. You have said in an interview I read before coming in here, you've said that this is a real estate media company. What does that mean? It is. So what it means is that we have all this incredible information. It empowers consumers. And then we make money by selling ads. So we'll do about a billion and a half of revenue this year, and it's advertising driven. |
| 1:16.0 | So we sell advertising to real estate agents, mortgage lenders, property managers of rentals. |
| 1:20.4 | So it's a media company. So when I go and check out the Zestimate on my house, just to give you the branding there. |
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