{"id":3254,"date":"2022-06-16T17:24:26","date_gmt":"2022-06-16T17:24:26","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/06\/16\/zillow-shareholders-re-elect-rich-barton\/"},"modified":"2025-03-13T02:44:08","modified_gmt":"2025-03-13T02:44:08","slug":"zillow-shareholders-re-elect-rich-barton","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/06\/16\/zillow-shareholders-re-elect-rich-barton\/","title":{"rendered":"Zillow shareholders re-elect Rich Barton"},"content":{"rendered":"\n<p>Despite a tumultuous six months for <strong>Zillow, <\/strong>the firm\u2019s shareholders appear committed to CEO and co-founder Rich Barton. <\/p>\n\n\n\n<p>In a <a href=\"https:\/\/seekingalpha.com\/article\/4518420-zillow-group-inc-z-annual-shareholders-meeting-transcript\" target=\"_blank\" rel=\"noreferrer noopener\">rather uneventful meeting<\/a> on Tuesday, which included no questions from investors, the firm\u2019s shareholders voted to re-elect Barton, as well as Lloyd Frink and April Underwood, to the board of directors until the company\u2019s 2025 meeting. All three candidates were easily elected, according to a <a href=\"https:\/\/sec.report\/Document\/0001617640-22-000074\/\">filing<\/a> this the U.S. Securities and Exchange Committee.<\/p>\n\n\n\n<p>These re-elections come as Zillow continues to deal with the ongoing wind down of its struggling <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/zillow-to-kill-its-ibuying-program\/\" target=\"_blank\" rel=\"noreferrer noopener\">iBuying business<\/a>, <strong>Zillow Offers, <\/strong>announced in early November. This <a href=\"https:\/\/preprod.housingwire.com\/articles\/5-takeaways-from-zillows-nightmare\/\" target=\"_blank\" rel=\"noreferrer noopener\">wind down<\/a> has resulted in the loss of about 1,605 job or roughly 25% of the firm\u2019s workforce and came as the company reported a third quarter 2021 net income loss of $328 million, mostly due to a $421 million net loss before taxes on Zillow Offers. At the time of the initial announcement, Zillow Offers held roughly 18,000 homes and <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/everything-must-go-zillows-race-to-end-ibuying\/\" target=\"_blank\" rel=\"noreferrer noopener\">by early May<\/a>, the firm had sold or disposed of roughly 85% of those homes.<\/p>\n\n\n\n<p>Since the shuttering of its iBuying arm, Zillow has announced the launch of two projects: a \u201c<a href=\"https:\/\/preprod.housingwire.com\/articles\/licking-its-wounds-zillow-bets-on-a-housing-super-app\/\" target=\"_blank\" rel=\"noreferrer noopener\">housing super app<\/a>\u201d and <a href=\"https:\/\/preprod.housingwire.com\/articles\/zillow-testing-major-changes-to-premier-agent-program\/\" target=\"_blank\" rel=\"noreferrer noopener\">major changes<\/a> to its <strong>Premier Agent <\/strong>program.<\/p>\n\n\n\n<p>The \u2018housing super app,\u2019 according to investor slides filed with the Securities and Exchange Commission, will provide mortgage pre-approval, \u201cimmersive shopping,\u201d facilitate in-person touring, and home financing. Meanwhile, Stephen Capezza, the firm\u2019s SVP of business operations, said the changes to Premier Agent, which went into effect on May 25 in the Raleigh and Denver metro areas, will give Zillow the chance to experiment and \u201cpilot new products and services designed to help customers move quickly and be competitive buyers,\u201d before rolling them out nationwide.<\/p>\n\n\n\n<p>In addition to dealing with the shuttering of its iBuying program and the creation of its &#8220;super app&#8221; and \u201cZillow 2.0\u201d, Zillow has also been embroiled in an <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/rex-closes-brokerage-hires-david-boies-in-zillow-lawsuit\/\" target=\"_blank\" rel=\"noreferrer noopener\">ongoing anti-trust lawsuit<\/a> with the <strong>National Association of Realtor<\/strong> and <strong>REX Homes<\/strong>. \u00a0<\/p>\n\n\n\n<p>All things considered, it is clear that Zillow is undergoing changes and experimenting with new business models, but the one constant appears to be Barton\u2019s role as CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite a tumultuous six months for Zillow, the firm\u2019s shareholders appear committed to CEO and co-founder Rich Barton.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-3254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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