How does Zillow's CEO describe the current real estate market?

Zillow CEO Jeremy Wacksman describes the current real estate market as 'bouncing along the bottom.'

What role does generative AI play in Zillow's strategy?

Zillow views generative AI as a key opportunity, integrating it into various aspects of its business to enhance user experience and operational efficiency.

What are some AI-powered features Zillow is using?

Zillow is using AI for features like SkyTour, which creates 3D renderings, and Virtual Staging to digitally furnish properties, alongside enhancing Zestimates and search capabilities.

Home / Business and Economy / Zillow Bets Big on AI Amidst Real Estate Slowdown

Zillow Bets Big on AI Amidst Real Estate Slowdown

13 Feb

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Summary

Zillow CEO sees the home market 'bouncing along the bottom'.
Generative AI is seen as a key opportunity for Zillow's business.
AI enhances Zillow's features like Zestimates, SkyTour, and Virtual Staging.

Zillow Bets Big on AI Amidst Real Estate Slowdown

Zillow CEO Jeremy Wacksman has characterized the current real estate market as 'bouncing along the bottom,' anticipating only marginal improvement in 2026 from a dismal previous year. Although Zillow's own performance exceeds the overall industry, its valuation has significantly decreased since 2021. The company is strategically embracing generative AI, viewing it as an integral component for future growth.

This embrace of AI extends to enhancing user experience, allowing for highly specific property searches. Zillow is also leveraging AI for advanced features like SkyTour, which creates 3D renderings from drone footage, and Virtual Staging, which digitally furnishes properties. CEO Wacksman emphasizes the need for clear disclosure regarding virtual staging to maintain trust.

Internally, AI is boosting Zillow's workforce productivity. Programmers are writing code more efficiently, customer support is automated, and design teams are shortening product development timelines. This focus on AI integration aims to streamline operations and improve Zillow's competitive position within the evolving real estate landscape.

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