At the Swanepoel T3 Group we pore over every detail in producing the SP200, the definitive ranking of residential real estate industry leaders. And this year, we settled on a new most powerful person in residential real estate: Zillow Group CEO Spencer Rascoff.
Zillow Group’s blazing 2016 propelled Rascoff to the SP200 top slot, up from No. 3 in 2016. The first non-brokerage exec to head the list, he kept his firm humming on all cylinders, even pouring on the gas after settling his firm’s lawsuit with NAR and Move Inc. for $130 million in June. The firm acquired MLS tech provider Bridge Interactive Group in August, introduced a new brokerage-focused ad product in October and reported $6.8 million profit on $224.6 million in revenue in the third quarter.
The fact that a tech chief is now residential real estate’s most powerful leader reflects the industry’s trajectory over the last several years. As business and life shifts online, tech is no longer just a component of organized real estate, but is rapidly becoming the foundation. This is becoming increasingly clear: industry leader Realogy now has a tech hub in ZapLabs, and brokerages and franchisors, along with NAR and RPR, are building their own data distribution platform in Upstream.
Just 41 years old, Rascoff still has a long time to grow his already considerable influence, and his firm shows no signs of slowing down, reflected in the many Zillow Group execs also experiencing jumps on the 2017 SP200 list:
- Chief Operating Officer Amy Bohutinsky up 35 slots to No. 10
- Chief business officer Greg Schwartz up 14 slots to No. 55
- Chief industry development officer Errol Samuelson up 14 slots to No. 57
- Chief analytics officer Stan Humphries up six slots to No. 87
- Chief Marketing Officer Jeremy Wacksman debuting on the list at No. 148.
Keep your eyes and ears peeled. Rascoff in the top slot indicates that 2017 will be a game-changer as technology reshapes real estate and compels brokerage, franchisor, MLS and NAR leaders to evolve faster than they otherwise might like to. See the top SP200 tech executives here.