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Zillow Group, Inc. Message Board

  • surbiton99 surbiton99 Oct 6, 2013 8:02 PM Flag

    Zillow Unique Users Slump in September

    So much for CEO Spencer Rascoffs $8.4M TV Ad campaign over the summer when Zillows Unique User numbers slump from 63.7M in August to 58.4M in September. The genie is out the bottle as people find inaccurate and useless data on Zillow causes nothing but chaos and confusion when searching for homes. The infamous Zestimate accuracy problem with 17% of Zestimates more than 25% incorrect is just the tip of the iceberg, as its 'stale' listings that waste so much valuable time for home seekers that cause most frustration. Even if the User numbers are adjusted for 1 fewer day in September the numbers are down by 5.3% month on month. The Zillow stellar PE Ratio is unworthy of such a lousy performance and the stock deserves to fall substantially as a consequence. Z stock price has fallen 20% in the last few weeks and with this news it deserves to fall a lot further.

    Am I surprised by the massive drop in User Numbers? NO - when YouTube hits for the Zillow TV Ad are 54,000 in the same period as Geicos 'Hump Day" Ad gets 15 million hits, it demonstrates the total lack of any consumer connectivity with Zillow. Also when the CEO says he spends up to 2 hours a day walking on a treadmill in the Zillow HQ, has a dedicated computer for his meaningless Twitter postings, and takes non executive directorships with Trip Advisor, Julep Beauty Inc and Zulily Inc, then it is clear he has lost focus on the day job and the slump in user numbers reflects these distractions.

    Full Disclosure: I am a Zillow cynic who takes issue with Zillow imposing nonsense Zestimates on private property and refusing ALL reasonable requests by the homeowner to correct or delete these erroneous valuations, even though Zillow accepts that 17% of 100 million Zestimates are more than 25% inaccurate.

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33.86+0.35(+1.04%)Oct 21 4:00 PMEDT