November 15, 2024 10:50 am
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Zillow took ‘massive losses’ on Phoenix homes

(Disclosure: Rose Law Group represents Offerpad.)

By Angela Gonzales | Phoenix Business Journal

It’s been a rough few months for Zillow Group Inc. (Nasdaq: Z), which is shuttering its Zillow Offers division and laying off 25% of its workforce at a time when the iBuyer real estate firm has been losing money on many of the homes it flipped.

Zillow employs about 300 people in metro Phoenix, and in 2019 more than half of them worked for Zillow Offers. It’s unclear how many of these workers could be laid off.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.