Zillow CEO Says Home Search Will Resist AI Agent Automation

Zillow Group, Inc. CEO Jeremy Wacksman says consumers are unlikely to delegate home searches to AI agents, according to GeekWire. He said people may use agents to cancel subscriptions or book appointments, but choosing and browsing for a home remains an activity they want to handle themselves.

Wacksman addressed the issue during Zillow's quarterly earnings call. AI agents could bypass Zillow by searching listings and completing parts of the purchase process for users, potentially reducing connections with the agents and loan officers that generate much of Zillow's revenue.

Zillow said about 80% of its traffic comes directly to its platform and that it has not seen meaningful traffic from AI services. The company has integrated its services with OpenAI and Google's Gemini and is working with Anthropic.

Zillow reported third quarter revenue of $724 million, up 7% from the prior year but below its forecast of $745 million to $760 million. It recorded a net loss of $158 million, largely related to a settlement involving its former Zillow Offers business.