Shares of nation’s leading real estate site jump 12% since announcement of merger.
Zillow and Trulia are unquestionably the two most popular research sites for people looking to buy, sell, or lease a new home. Combined, the two companies attract over 130 million unique visitors each month.
Both sites garner heavy attention from real estate agents looking for the most exposure of their listings. Some of the nation’s largest brokers spend upwards of $20,000 per month on the sites. And though the two companies take in hundreds of millions of dollars annually, their revenues are only a fraction of the $12 billion that real estate professionals spend on marketing each year.
Spencer Rascoff, Zillow’s CEO, says that real estate marketing has gone mobile. It’s no secret that on-the-go information has been one of the best tools for realtors. Both sites offer phone-friendly, detailed information on their listings. Trulia and its now-parent company have completely transformed the real estate market over the last decade. Today, buyers can access information that was once only available to a real estate broker.
Brokers irrelevant to future of real estate?
The age of information has made it easier than ever to buy a home without the assistance of a licensed real estate agent. Many brokers fear that mergers such as this will completely eliminate their jobs. Other sites, such as homes.com and realtor.com, employ many of the same marketing methods as Zillow and charge a premium price for listings. Agents who list their properties with these companies may be the only ones that survived the mobile marketing revolution.
Trulia and Zillow offer specialist tools that the home seeker can use to enhance their buying experience. From interactive maps to instant home estimates, real estate websites such as these will continue to change how people buy and sell real property.