Zillow Offers, the iBuying arm of Zillow Group, has cut approximately 80 jobs in a realignment, the company confirmed to HousingWire. The affected employees were informed earlier this month.
The cuts included mostly field positions and a few back-end control positions. The field positions included those who evaluated homes, maintained homes and managed renovation work for homes in Zillow’s inventory.
“Zillow Offers has grown tremendously over the last 2 1/2 years, and our commitment to delivering a seamless, convenient real estate experience to customers remains our North Star,” a Zillow spokesperson said.
“Since inception, we’ve continuously improved to ensure we can provide the best experience possible. The changes in our team, while never easy, will put us in a strong position to continue investing in Zillow Offers for the long term by realigning our resources and staffing levels to best meet the evolving needs of our customers.”
An eClosing strategy that succeeds in any environment is built on two key concepts. Find out what those are here.
Presented by: Snapdocs
Some affected individuals may be re-employed elsewhere in the company, according to Zillow.
The iBuyer has remained busy over the last few months. In September, Zillow Offers launched in Jacksonville, Florida, its 25th operating market and first new market since it resumed iBuying in May after a nearly two-month pause due to COVID-19.
The company also announced last month that its Zillow Offers customers in Atlanta, Phoenix and Tuscon, Arizona will be offered “a more simple, integrated transaction experience through added services, managed in-house,” starting in January 2021 with Zillow Homes, its brokerage entity.
During the second quarter, Zillow sold 1,437 homes and purchased 86 homes through Zillow Offers, ending Q2 with 440 homes in its inventory. By the end of Q2, Zillow Offers’ revenue also grew to $453.8 million, compared to $248.9 million a year prior.