Zillow
Founded in 2005, Zillow is the most visited real estate website in the United States. It provides an online real estate marketplace for finding and sharing information about homes, real estate, and mortgages. Together with its affiliates and subsidiaries, it provides users with an on-demand experience for selling, buying, renting or financing a home.
Zillow’s most widely known tool, the Zestimate, was born out of the release of Google Maps’ satellite view that provides a detailed view of neighborhoods throughout the country. The idea was to attach a price to each house in that type of satellite view – and has since grown, for better or worse, into a very popular mechanism used by consumers to value homes.
In 2019, with the return of Rich Barton as CEO, Zillow entered the mortgage space after purchasing Mortgage Lenders of America, launching its own lending operation called Zillow Home Loans. According to Zillow, the strategic move streamlined and shortened the homebuying process for consumers who purchased homes through Zillow Offers
Zillow recently made news with its exit from the iBuying market, opting to cease operations on its Zillow Offers program – which involved the company in buying homes, making minor renovations and then quickly re-selling the homes for a profit. Zillow Offers had been responsible most of the company’s revenue and, after being eliminated, led to the loss of nearly 2,000 jobs and losses of more than $500 million on the value of the remaining homes on its books. This is a major contrast to original forecasts for the Zillow Offers program, which executives initially predicted would generate $20 billion in revenue annually.
Latest Posts
Zillow launches school search tool
Sep 12, 2013While they may not run the household, kids play a significant role in choosing a family’s new home. Besides looking at the price of real estate, parents generally make their selections after evaluating the quality of nearby schools.
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Zillow data available to Moody’s Analytics customers
Sep 11, 2013 -
HW 30 index continues to land in positive territory
Sep 10, 2013 -
Zillow downgrade forces investors to pullback
Sep 05, 2013 -
Housing Internet stocks soar on the HW 30 index
Sep 04, 2013 -
Don’t deny Zillow stock potential: Jim Cramer
Aug 30, 2013 -
Underwater homeowners become a smaller slice of the pie
Aug 29, 2013 -
Zillow opens new headquarters for Mortech division
Aug 29, 2013 -
HW 30 stocks shaken by volatile rates, economic reports
Aug 27, 2013 -
Price appreciation picks up in emerging real estate markets
Aug 27, 2013 -
Are real estate agents really needed?
Aug 23, 2013 -
RE/MAX IPO signals confidence in housing
Aug 19, 2013