Zillow brushes off Citysnap threat, says agent advertising will fall – Robert Khodadadian

Zillow Group sees dark clouds on the horizon for its agent-advertising business. The company predicted that a slowdown in home sales – in part due to a spike in mortgage rates – would hit one of its core businesses. “Agents saw demand go down and longer cycles for their customers to close,” Zillow CFO Allen Parker said on the company’s second-quarter earnings call Thursday. “Their natural reaction at a time like this is to reduce

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Residential Real Estate, Proptech, zillow The Real Deal New York Read More