Greg Schwartz, the president of media and marketplaces and a 12-year veteran of Zillow, is leaving the real estate tech giant at the end of the year, the Seattle-based company confirmed to Inman Monday. Zillow will shuffle oversight of the company’s segments among its current leadership with no current plans to replace Schwartz’s role.
Schwartz, in a statement, said he was going to take some time off before finding his next role.
“Zillow has been the high point of my career and after 12 years at Zillow, it’s time for me to take my first real day off,” Schwartz said in a statement. “We built Zillow into something that’s transformative and bigger than any of us, and I’m incredibly proud of the work we’ve accomplished as a team and working in partnership with our numerous industry partners. I am excited to see the next chapter unfold.”
Schwartz first joined Zillow in 2007 as vice president of sales and has since served as its chief revenue officer, chief business officer and most recently as president of media and marketplaces, where he oversaw the company’s internet, media and technology (IMT) segment. IMT was routinely the company’s top revenue generator until 2019 with the rapid scaling of Zillow Offers.
Schwartz discussed the decision further in a LinkedIn post, where explained he’ll be taking a “gap (half) year.”
“After 12 years at Zillow, it’s time for me to take my first real day off,” Schwartz wrote. “Let’s call this a gap (half) year.”
“Startups are intense experiences and require such sacrifice that they need a fresh team every decade or two,” Schwartz added. “Zillow’s leadership team is deep and talented and the business model is vibrant, so I can comfortably hand the keys off and exhale.”
Schwartz also said that his work at Zillow has kept him away from focusing on Seattle’s streets and government. He’s planning on taking a board member position at a yet-to-be-announced civic organization with, “heavyweights from Washington State politics, community advocacy groups and business.”
“Our city is soaring with the greatest financial, intellectual and innovation boom in history, yet in many areas we have fallen flat,” Schwartz wrote. “We can do better. So, this bird is picking his head up and dedicating part of the next six months – at least – to help improve Seattle.”
Premier Agent and Zillow’s rentals business will be folded under Jeremy Wacksman, the president of Zillow. Susan Daimler, senior vice president of Premier Agent and Christopher Roberts will both report to Wacksman.
The company’s nascent mortgages segment will fall under the leadership of Arik Prawer, who has run Zillow Offers since joining the company in 2018, alongside Wacksman. The move is aimed at integrating Zillow’s home financing segment more closely with its iBuyer platform Zillow Offers.
Zillow’s new construction and display advertising business will fall under the oversight of Errol Samuelson, Zillow Group’s chief industry development officer.
Samuelson will assume oversight of Zillow’s New Construction business and Display Advertising.
“Greg Schwartz has been a truly instrumental leader who helped build Zillow Group, and our Chairman Lloyd Frink and I are grateful for all of his contributions,” Zillow co-founder and CEO Rich Barton said in a statement. “He has built an incredible team who will continue to lead their businesses as we expand our business model to create a seamless transaction experience for our customers.”
“I have great confidence in our leadership team and am excited to further integrate Zillow Offers with Premier Agent and mortgages,” Barton added. “We are in a great position to lead real estate 2.0.”