Zillow Group, Inc. (Nasdaq: Z and ZG) has announced that Jeremy Wacksman, a seasoned executive and the company’s Chief Operating Officer (COO), has been elevated to Chief Executive Officer (CEO), marking a significant change in leadership. Zillow co-founder Rich Barton, who will continue to serve on the board of directors and assume the post of co-executive chair alongside fellow co-founder Lloyd Frink, is succeeded by Wacksman.
The appointment of Jeremy Wacksman as CEO is a turning point in Zillow’s development. Wacksman, who joined Zillow in 2009 following a fruitful tenure at Microsoft, has played a pivotal role in propelling the company’s expansion and innovation. Under his direction, the business has become one of the most well-known in the real estate sector. Zillow Group applications have three times as many daily active users as any other real estate company.
Throughout his tenure at Zillow, Wacksman has received several calculated promotions that have reflected his growing responsibility inside the organization. Before taking on the role of COO, he held positions as a product leader, Chief Marketing Officer (CMO), and most recently, as an engineering, product development, design, marketing, sales, and industry relations supervisor.
During his fifteen years at Zillow, Wacksman has successfully implemented the company’s most revolutionary programs. He spearheaded the development of mobile real estate shopping as a product leader, which has maintained Zillow at the forefront of the market. As CMO, he oversaw Zillow’s rise to fame, making the company’s name synonymous with real estate searches.
While serving as COO, Wacksman was instrumental in implementing Zillow’s housing super app plan. This approach intends to use integrated digital solutions to streamline complex real estate transactions. His emphasis on controlling costs, varying sources of income, and branching out into new markets like mortgages and rentals has set Zillow up for long-term success.
Notably, Wacksman has played a significant role in Zillow’s strategic acquisitions, including the acquisition of ShowingTime and Follow Up Boss, two industry software solutions. Through these purchases, Zillow has improved its product offerings and solidified its position in the industry.
Zillow is well-positioned to maintain its current growth and innovation trajectory under Wacksman’s leadership. Wacksman demonstrated his excitement for Zillow’s future by stressing the company’s strong brand, highly engaged audience, and gradual expansion of its business portfolio. He underlined the company’s goal of revolutionizing the real estate industry by providing agents and customers with top-notch tech solutions.
As co-executive chairmen of the Board of Directors, Barton and Frink will maintain their prominent positions in the company’s leadership even after Barton’s departure as CEO. Since Zillow’s foundation in 2004, both have played a significant part in the company’s development. Their continued engagement is anticipated to offer stability and consistency when Wacksman assumes his new job.
Barton has commended Wacksman’s leadership, especially in the last three years, which have seen the firm undergo substantial innovation. Given the company’s success despite difficult real estate market conditions, Wacksman’s ability to steer Zillow into its next phase is impressive.
Another quality that sets Wacksman apart as a leader is his collaborative style, which has been essential in creating an innovative and team-oriented culture at Zillow. He has played a key role in uniting Zillow’s disparate technical, product development, and design teams to create a single vision that is in line with the strategic objectives of the business. His capacity to develop talent inside the company has resulted in the creation of a world-class team that is in charge of several ground-breaking projects, such as Real Time Touring and Zillow’s 3D interactive floor plans. Zillow is positioned as a leader in real estate technology because of Wacksman’s emphasis on cooperation, which keeps the firm flexible and responsive to market developments.
