Zillow Group (Z) Barclays 23rd Annual Global Technology Conference summary

Business strategy and growth

• Focused on evolving from an advertising marketplace to a transaction-driven Housing Super App, integrating services for buyers, sellers, renters, and professionals.

• Growth opportunity lies in converting more users to transact using provided services and technology.

• Strategy includes building software for both consumers and professionals, aiming for a seamless transaction platform.

• Outpaced a flat housing market by growing transaction share and expanding into rentals and mortgages.

• Plans to increase the share of customers using the integrated experience from 34% to at least 75%.

Product innovation and technology

• Leveraging AI and generative AI for both consumer-facing features (e.g., Zestimate, Sky Tour, Virtual Staging) and professional tools (e.g., Smart Messages, CRM automation).

• AI-driven tools improve agent efficiency and customer conversion, automating follow-ups and reducing funnel leakage.

• Ongoing innovation includes integration with platforms like ChatGPT and internal AI enhancements.

• Product cadence and tech investments support margin expansion while enhancing user experience.

Segment performance and monetization

• Rentals business is a major growth engine, with the largest rental marketplace and 2.5 million listings.

• Multifamily revenue driven by high-quality audience and partnerships, such as with Redfin.

• Monetization strategy includes expanding agent software offerings (Preferred and Pro), with Pro launching nationwide in 2026.

• Pro platform serves as both a revenue stream and a pipeline for future Preferred agents.