When Zillow announced that it was hitting pause on its iBuying operations earlier this week, the news sent shockwaves through the real estate industry.
Zillow blamed the pause on labor and supply constraints that were hampering its ability to quickly renovate and efficiently turn over its housing inventory.
Click here to read the story at techcrunch.com.
Discussion Questions:
- What type of business is Zillow?
- What is its “iBuying” operation?
- What is “house flipping”?
- How might the concept of flipping represent an example of entrepreneurship?
- How has technology changed the way people can flip houses?
- Why do you think Zillow chose to hit pause on its iBuying operation?
- Who do you think was responsible for making that decision?
- Why is leadership important in business, especially when it comes to making decisions like Zillow’s decision to hit pause on its iBuying operation?
- What is competition?
- How does this news story represent he concept of competition?
- Why do you think Opendoor is expanding its flipping operation while Zillow is hitting pause? Be prepared to discuss in class.