Revolutionizing Rental Experiences and Empowering Women in Multifamily with Jami Thomas from Zillow

Can simplifying the rental process revolutionize the real estate market? Join us as we chat with Jami Thomas, Vice President of Sales at Zillow, who takes us through her incredible journey from starting on Zillow's for-sale side in 2011 to her current impactful role in Zillow Rentals. Hear firsthand how Jamie, with her extensive experience and insights, is driving Zillow's mission to transform the rental experience for 17 million annual renters in the U.S. Learn about Zillow's innovative solutions like universal applications and how the company's dedication to inclusivity and customer-centric values are setting new industry standards.

In this episode, Jami offers profound career advice, particularly for women aspiring to leadership roles. Discover the importance of authenticity, forming meaningful connections, and the value of having a personal advisory board. Jamie also shines a light on Zillow’s supportive company culture, which fosters long-term employee retention and a fulfilling work environment. Additionally, hear about Zillow's role in the Multifamily Women's Summit and why this partnership is crucial for empowering women in the multifamily industry. This conversation is packed with actionable insights and inspiration for anyone looking to grow in their career or understand the future of the rental market.

Connect with Multifamily Women®:

Multifamily Women® Summit: https://multifamilywomen.com/
Carrie Antrim on LinkedIn: https://www.linkedin.com/in/carrieantrim/
Be a Guest on the Podcast or at the Summit: https://apps.multifamilywomen.com/speakingrequest
Multifamily Women® Leadership Series: https://apps.multifamilywomen.com/join

Transcript

Zillow's Mission in Multifamily Industry

Speaker 1 0:20

Welcome back to another episode of the Multifamily Women's Podcast. We have a wonderful guest today, Jamie Thomas. She is the Vice President of Sales at Zillow. Jamie, thank you for joining us today.

Speaker 2 0:31

Hi Lauren, it's so good to be here. Thanks for inviting us to take part in this.

Speaker 1 0:35

Absolutely. And so what is? How did you get into your role at Zillow and what are you excited about at Zillow currently?

Speaker 2 0:45

Yeah, I've had a really incredible journey at Zillow. I started in 2011 on the for sale side of the business and really watched that marketplace go from startup to solving our problem, which is helping movers get home. In 2019, I took on the adventure of joining Zillow Rentals, which had the same challenge, which is renting's really hard, and I wanted to help grow this business, improve our partnerships, and we've been doing incredible things since.

Speaker 1 1:16

That's amazing. And so what is Zillow currently working on? That's innovative or exciting.

Speaker 2 1:21

That makes you really excited to get to work in the morning that's innovative or exciting, that makes you really excited to get to work in the morning. Yeah, the same problem or challenge that got me excited to join the Zillow Rentals business exists today and it motivates and invigorates us all, which is our mission is to help renters get home, and we all know, if you've rented before, that experience is still really fragmented and frustrating. So for us, you know, unlike for sale, there's no MLS for rentals, there's no single place that renters can find all the inventory. So that's what we're in the pursuit of solving. So, from single family to multifamily and everything in between, we want to solve that problem for the renter, which inherently benefits those who partner with us.

Speaker 1 2:03

I love that answer. We talk a lot on the podcast about being incredibly customer-focused and sometimes businesses. It's hard to keep your eye on the customer in that way, but it sounds like everything Zillow is doing is all about what does the customer need? What's the next innovation that can help that customer succeed? So I love that you're thinking that way.

Speaker 2 2:24

Yeah, and it a huge eye opener for us is you know we started in the for sale business, but there's an even bigger opportunity in the rental space. So there's about 17 million annual renters moving in the United States. That's three times more than for sales. So we really knew this was part of our mission to help people get home.

Speaker 1 2:44

Wow, I love that. And Zillow is a sponsor of the Multifamily Women's Summit this year, which is really exciting. Are you excited to attend the conference and what made you want to be a part of this conference?

Speaker 2 2:57

Yeah. So the conference and everything that you are doing completely aligns with our core values, which is inclusion and belonging. I can speak for myself as a woman in business, as a woman at Zillow, that empowerment is incredibly important to us. I'm really excited about your event because it is CAP, it is personal, it's not another trade show. It is a real opportunity to lift all the boats with the rising tide. I'm really excited to take part in it.

Speaker 1 3:27

That's awesome, and tell us more about the Zillow culture, because it sounds like it's a really great one.

Speaker 2 3:32

Yeah, when people ask how have you been at Zillow for over 12 years, I always say two reasons One, our mission I believe in it and I believe we're going to be the ones that make getting home easy and friction-free for our customers. And two is the people we work with. It's an incredible culture where our core values mean something and we show up with them internally as well as with our interactions with our partners, every single day.

Speaker 1 3:57

I love that. That's a great answer. And you specifically in your career how did you fall into Zillow and where did you begin and what got you interested in multifamily?

Speaker 2 4:07

Yeah, so I started in the for sale business and not so similar from the rentals business. It was pretty hard to find a home At that time for for sale. You couldn't see all the listings. You had to go into a Windermere office to have a real estate agent show you a home.

Speaker 1 4:25

And then when?

Speaker 2 4:25

I saw the challenge in our rentals marketplace very similar. You couldn't see all the homes. You could go to one site and see multifamily go another site and see a whole bunch of other things, but nobody had organized that marketplace. So joined rentals to really help do that and we've focused on solving for the customer first. So when we solve for the renter, our partners benefit from that and I think an example of that would be our applications product. So back when I rented I had to go into leasing office and leasing office and fill out a paper application and pay a fee. We launched our universal applications which when a renter uses, they can use that universal application to multiple properties, making them a happy renter and ultimately getting them into their home, which creates a lease for our partners.

Speaker 1 5:14

That's amazing. That's exactly. It sounds so seamless and so simple.

Speaker 2 5:18

So we look back we're like, wow, we should have gotten to that sooner. But we are leading in that space and we're really proud of the products that we've launched for renters. So there's applications, rent payments, room for rent renters, insurance, and we know that when we solve the problems for the renters, when we create that loyalty, which we have a huge base of, that helps our partners be successful in their business. Recently we launched a apartment seeker ad campaign, which was Zillow's first brand expansion to the renter audience. So when I started in Zillow rentals most people said I didn't know, you did rentals. And now we are talking to the audience, talking to the renters loudly, and in June we reached 38 million renters on Zillow, which is the highest audience anyone has captured to date. So we're really excited about the growth that we're seeing in the space but, more importantly, that we're solving that problem and helping renters get home.

Speaker 1 6:16

That's really awesome and I think this is great advice for a lot of people who are expanding their businesses right, Especially suppliers in this industry. When you're adding an extra layer of a demographic that you maybe weren't tackling before, is that difficult? Or what is some advice for somebody trying to kind of steer into another market like that?

Speaker 2 6:39

I think generally the way you do that is through your authentic brand. And I think about Zillow, like, we have started in the for sale business and we've expanded in renters, but we've done that through the trust we've gained with our renters. And so if we're thinking about the industry, if you're trying to expand into a different demographic, if we're thinking about the industry, if you're trying to expand into a different demographic, stay true to your brand, stay true to your core values and that will help that expansion and a lot of that benefits us. So, for example, we started in the for sale business but that for sale audience actually benefits the renter audience. So 64% of our renter audience has considered buying audience. So 64% of our renter audience has considered buying and that crossover audience benefits our partners and goes also into the former sale business. So you'll find value edge as long as you stay true to your authentic brand.

Speaker 1 7:29

What a great way to just expand your customer base. So simply right, because those same people, to your point it's going to. You know, people are looking to rent at some time and then maybe they want to buy, and so being able to transition people very simply through the same product, it just makes so much sense. So way to innovate, thanks. How does Zillow decide what the next innovation is? Are you doing some customer surveying, or what does that look like?

Speaker 2 7:55

Yeah, we definitely have data top of mind in all things we do. I would say it's in our lifeblood. We do an annual consumer housing trends report that gives us a look at what renters' biggest priorities are budget, neighborhood space, how the renter demographics are changing, whether they're getting older or starting families. That helps us think about how we're speaking with our audience, how we're solving for our audience, and then also how we're meeting our partner's needs and we can give that data to them, and we do every year to help them make better decisions in their industry.

Speaker 1 8:31

Absolutely. And that partner relationship. We've talked a lot about your consumer relationship. What does a partner get when working with Zillow?

Advice and Insights for Career Growth

Speaker 2 8:40

Yeah, our obsession with the customer doesn't stop at the renter, so we're equally invested in our partner's experience because they provide the listing. So without that dual-sided marketplace, everybody is happy we would fail. So we really work hard to have the same obsession on both sides. Every Zillow partner has a dedicated sales professional. We incorporate their feedback rate regularly. Many of the things that we've launched in the past year are direct feedback from our partner. An example of this would be our recent partnership with Moody's. So our partners have said Zillow, you have data, we want more of this. This helps us learn and operate better. And so we've launched that partnership an initial launch already and then a premium reporting coming soon, which will really help our partners access improved reports and analytics to better lead their businesses.

Speaker 1 9:31

That's really smart to be doing that, listening and then kind of pivoting as we go, because we're in a very, very innovative state right now with new technology, all of that. So I think it's really important to have your hand on the pulse of what the consumer needs right now. That's great. So for women listening to this podcast, you are a VP of sales, which is a really amazing title. What advice do you have to up and coming leaders or women who are trying to escalate their career?

Speaker 2 9:58

Yeah, so this is one that took me a while to learn in my career, which is I tried to model my career off of other people that I saw in the seat and, as a woman, oftentimes, that may not be another woman, and so what I have found to be an incredible driving force for my career growth is to really harness that authentic power of what you bring to the table.

Speaker 1 10:20

There is only one.

Speaker 2 10:21

You Also, being a woman, is a superpower and really coming to the executive table and coming to your opportunity at work with that value in mind, not trying to be somebody else. Harnessing your strong skill sets and standing firm in them and bringing them. Don't try to be anyone else. Really embrace your authenticity. That's great advice. I love that and have you in business.

Speaker 2 11:06

It's so important to have those connections of people that do similar roles than you to get that experience. Like you have one life, the more you connect with others you get that advantage and that learning. That's why you know the summit is so important. It's such an opportunity to improve those connections. Sponsorship is very important. More often than not, career decisions happen without you in the room, so having somebody sponsor your career is very important. And then, last but not least, I've coined the term a professional personal advisory board. So I have about four to five people on the text that I reach out to regularly that know me. They know my blind spots and I can bounce off ideas with. That will give me some sort of board guidance. You know, not typically not your direct leader, just a safe space to really get that counseling. So I encourage everybody to try to find space for those three lanes that they're looking to grow their career.

Speaker 1 11:59

That's great. So it's a text thread you have with people that you just like. Hey, jamie's advisory board that's so awesome. I love that idea and I think a lot of people that I've talked to on the podcast are doing similar things. They've identified their kind of core group that they go to for advice on this topic, for advice on this topic. So I think that's really smart and I think a lot of people do make those connections through the Women's Summit. So really excited for you to go this year and attend and be able to add some more people to your advisory board.

Speaker 2 12:31

Yeah, and, I think, another space for anyone in their career. When you have an opportunity to show up and stretch yourself, asking those connections or your sponsor or that advisory board for feedback and I've learned in the past the best frame for that is what went well and what would go better. And whatever that person offers, you respond with two words, which is thank you, because that feedback is a gift and it's a direct line to how you can get better.

Speaker 1 12:58

Absolutely, and I think, Jamie, women in sales that's not as common either. So I think that's a niche that a lot of people will be reaching out to you after this podcast and say hey what advice do you have as a woman in sales? Because I will say sales is hard, it's tricky.

Speaker 2 13:17

It is hard I ground myself in that avoid some of the stereotypes of sales. And sales at its root is human connection. So if you're interested in the human experience and creating relationships and understanding somebody's wants, needs and pains and helping them solve that, you can be exceptional in sales. So it doesn't have to be the stereotypical car sales experience that we all cringe on.

Speaker 2 13:43

It is really connecting to a human and helping them solve their problems, which is what and how Zillow sales like our team shows up to work with alongside our partners. We want to be that at the same table, on the same side of the table with our partners, helping them solve their real challenges that they're facing every day in their jobs.

Speaker 1 14:02

That's wonderful, and how does that look from a customer journey stance? Do you continue to do you have a customer success team that maybe takes on and helps people with longevity, because Zillow has a lot of those kind of long-term partnerships?

Speaker 2 14:18

Yeah, I'm incredibly proud of the long tenure of my team, our team's very long tenure at Zillow. So that's one. And then every property manager, every property management company, has a dedicated professional at Zillow. If you don't know who that is, you can reach out to me on LinkedIn. You can reach out to Zillow Rentals on LinkedIn and we will put you in touch. But you have somebody, even if you don't know it already.

Speaker 1 14:44

I love that, and so how does? Longevity in the company is really great in our industry as well, because we all know there's a pretty high turnover rate statistically. So how does Zillow really ensure they're keeping that company culture that's helping people stay for that long period of time?

Speaker 2 15:00

Yeah, I think a few things. You know I can speak to my personal experience I shared this earlier is like like our mission is real. There is a challenge with people finding their home, and even more so, I would say, in the rental space, and so showing up to work for a company that has a mission that's good and you believe we can solve is one. Two, our core values are not a poster on a wall. That mean nothing. They show up in our everyday interactions. We truly want to help make each other better. There's a lot of best practice sharing and then most people leave their jobs not because of the job. They leave it because of their leader, and so we have incredible leaders at Zillow that really show up and model what it means to be in our core values and leading with our mission forefront and that really keeps people here.

Speaker 1 15:49

Wow, people-focused, customer-focused these are all great, great initiatives and I think it's wonderful. Are those part of your core values?

Speaker 2 15:57

Yeah, we definitely lead with. The customer is our North Star. Most of our core values involve integrity, inclusion and belonging. It is all about putting the person or the customer first, and then the business model will follow if you're doing those things correctly and appropriately all the time.

Speaker 1 16:15

Amazing. Is there anything that you want our audience to know about the future of Zillow or working with Zillow that we haven't covered just yet?

Zillow's Sponsorship at Women's Summit

Speaker 2 16:25

Yeah, the future is bright with Zillow and Zillow Rentals. We are really trying to solve this problem with the renter first. We have the largest audience of renters. We would love to continue our partnership if we have one, deepen our partnership if we have one, or show you about the partnership. So continue to work with us. We'd love to connect with you on how we're creating that win-win for renters and for our partners yay, wonderful.

Speaker 1 16:52

Well, we're super excited to have you as a sponsor of the conference this year and again, come see them. Come visit the zillowcom. Is that the website?

Speaker 2 17:01

yeah, yeah right, yeah, come see us and check out the marketplace, look for your property and then reach out to your dedicated sales professional. We'd love to help improve your brand and really again help build that marketplace so all renters can find their way home.

Speaker 1 17:16

That's awesome. Well, thank you again so much for joining us today, jamie. I think everyone should check you out on LinkedIn and check out Zillowcom today, and if you haven't yet gotten your tickets for the Women's Summit, please do that today at multifamilywomencom. And thanks again, jamie, for coming. Thank you, lauren.