Quick recap of Zillow’s Q4 earnings report/call $ZG $Z

The Premier Agent business is prob as strong as it has ever been.

Normalized for some accounting nuances, QoQ growth was 20% in Q3 and 27% in Q4.

YoY growth was 13% in 2020 despite a 17% decline in Q2 related to the pandemic.
Reading the tea leaves, it sure sounds like Flex is one of the main drivers of PA revenue acceleration. This is something we talked about in Q3, 2019 when the stock had sold off by 20%+ and was trading in the low 30s https://t.co/yfNk89Uwuj
Not gonna claim iBuying is inevitable nor a “good” biz but even skeptics must admit the segment looks more viable today.

And we can all agree iBuying is clearly the superior customer experience compared to the tradition home selling process.
Maybe the most interesting comment made on the call?

The Zestimate will be a live initial offer in some iBuying markets this year 👀
Zillow’s challenge is now to convert its unrivaled top of funnel traffic into transactions.

“...our customers arrive at Zillow simply trying to move. It is our job to deliver for them in any way that we can, be it through our own services or w/ our best-in-class partners.”
👆That means multiple paths to success as long as Zillow remains the first place consumers go when looking to buy or sell a house.
This remains my (overly simplified) thesis:
Don’t ask me about valuation, I thought it was rich at a $30B EV 😂

/fin

More from Finance

The Dutch regulator and DNB as financial supervisor are a tough cookie to deal with. In essence they hyperregulate EU-rules into goldplated Dutch rules which go beyond what is prescribed in Europe.

All NL-customers at British banks may thus be kicked out on brexit.

Thread

/1

If we start with the capital requirements directive, it says attracting deposits is forbidden. In article 9.

https://t.co/RYl7SXligC


Now the translation of that rule into Dutch law is slightly expanded to not only prohibit attracting deposits, but to also prohibit, having those deposits under custody ('ter beschikking hebben').

That's not in EU law, but it is in our Dutch law.

https://t.co/PsbWfNY3PA


So if you wonder how this would work out for UK banks and Payment institutions servicing Dutch customers. Have a read at the technical explanation of DNB, the financial supervisor and their summarising table.

https://t.co/LL0fAnYkRJ

Passive servicing of Dutch is not allowed!


Any bank or PSP in the UK that continues to serve Dutch customers (as in retail customers, professional players are excepted) can thus be subject to fines and policing under Dutch law.

Meaning we not only have Accidental American issues in payments, but also Accidental Dutchies

You May Also Like