Industry Shakeups - Zillow Layoffs

Another sign of the times, Zillow recently announced layoffs of 25% including their Product, Business, and Sales divisions/departments.

I personally commend both Zillow and Rich Barton on the manner in which the layoffs were handled - we can all benefit by taking a play from their book in this regard.

We've seen Simon Baker ousted from RealEstate.com.au, continued cutbacks and closures across the board, and a full-scale pullback from companies from MLS systems providers to large-scale aggregators in both national and international markets.

The $64 (yes, that's still Dollars) question is, what's next, and who will be standing with a viable search and lead generation model to serve the needs of the emerging real estate consumers on a global scale?

Most of the current offerings out of the UK and European markets are simply variations on a theme, providing nothing more than the same old subscription-based models with traditional web-based advertising and little, if any, innovation.

I for one am ready for a FRESH take on this constant theme. It's time for a revolution of sorts - it's been years since we've seen any real innovation here folks, and I'm as guilty as the next (startup) guy.

It's time for a change.

Perhaps the talent on the street, provided by Zillow and others, will spark new opportunities and ideas in our marketplace - IF, and only if, the investors see fit to roll the dice yet again on Real Estate-related enterprises.

The future remains grey. I'm hopeful but not convinced.
Your take? Share it here and let's be real.

-TM

-Tim Mancuso
International Real Estate Advisor
Speak your Mind! Let your Real Estate Voice be Heard!
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