Speaker unverified: belief

Transcript context

…That makes sense. And at this point in time, and I’m sure still the thesis of a lot of public company investors or public markets investors that hold Zillow Group stock is, you know, real estate is this enormous, enormous market and it’s coming online for the first time and, you know, the market share of online players in real estate is still tiny compared to the whole market and we just want to invest in that wave that’s coming. That’s absolutely right. One of the stats that bears that out is that we think that notwithstanding our category leadership, you know, we have about 2/3 of the traffic on the web overall and 3/4 on mobile on Zillow brand properties. And yet, we only touch about 4% of real estate transactions in the US. So, there’s a massive green field still there for us to take advantage of and we see this huge opportunity ahead of us still. Yeah, it’s incredible. It still boggles my mind, you know, having followed this market closely for several years, how little of the real estate market is, as you said, being touched by any online player whether it’s you guys, Redfin or other folks, you know, and having shopped for houses myself online, I can’t imagine doing the old way through newspapers or just working with offline agents.…

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