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Zillow Cofounders Debut On Forbes Billionaires List Amid White-Hot Residential Market
Andrew Harrer/Bloomberg
Zillow cofounders Rich Barton and Lloyd Frink debuted on the Forbes Billionaires list on Tuesday following a heady year both for their company and the broader residential real estate market. Barton, 53, joins the rankings with a net worth of $2.2 billion and Frink, 56, with $1.4 billion. They are among five U.S. real estate billionaires to join the list for the first time.
A spokesperson for Zillow declined to comment on the news.
In the 12 months ending March 6, when
Forbes finalized the rankings, shares of the publicly traded real estate marketplace nearly tripled. The rise was spurred by a dramatic spike in demand for housing, which sent median American home prices soaring 10% over the past year, according to CoreLogic, inflated by low inventory, rock-bottom interest rates and a spike in activity driven by prospective buyers fleeing cities and seeking more space i
Panelists at Connect Now argued that Compass is going to have to think hard about recruiting, commissions and other issues as it prepares to go public.
Employees or contractors? KW, Redfin execs debate philosophy
During Inman Connect, Redfin s Glenn Kelman and Keller Williams Josh Team forcefully defended their companies respective approaches to agent employment
Clockwise from top left, moderator Clelia Warburg Peters, Keller Williams President Josh Team and Redfin CEO Kelman at Inman Connect.
Inman
From:
Inman Connect
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Here’s a question about real estate philosophy: Is it better to pay agents a salary, thus ensuring everyone at a company makes a decent wage but also potentially limiting how much top earners bring home? Or is the commission model better because there’s theoretically no cap on earnings, even if lower performers don’t make as much?