Make This Year Your Best Year Yet in the Real Estate business
Monday News You Can Use!
August 10, 2020
What do you think Zillow Chief says Great ReShuffling Happening? In Atlanta, pools are becoming more desirable. Buried in a link Zillow was much more profitable than expected losing only an average of $6939 for each home they purchased. Buying each home (on Average) for $284975 and spending $15848 fixing it up. $4166 in holding costs (utilities, maintenance, etc) and $4139 in interest expense (they get money cheaper than you or I can) and $13,619 in selling costs. Overall they earned $768 million ($454 Million from the Homes division) and lost a net of $84 million. Revenue from us real estate agents dropped 17% due to COVID discounts.