Zillow Prospering in Time of Downturn

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The real-estate market hasn’t really stabilized yet . . . yet Zillow is seeing growth and high levels of usage. According to data I received:

  • 44 percent year-over-year growth in page views in the first half of 2009.
  • 35 percent more for-sale listings on the site in the first half of 2009 versus a year earlier, as the result of more listings feed partnerships with brokerages and Multiple Listings Services. In total, 3.6 million listings are posted on Zillow today.
  • More than 535,000 people have downloaded the Zillow iPhone App since its launch in late April, more than any other real estate-related app.
  • Consumers submitted 265,000 loan requests on Zillow Mortgage Marketplace in the first six months of 2009. Lenders responded with 3.5 million custom loan quotes during this same period.

And:

The Zillow Directory of real estate professionals now lists nearly 200,000 real estate agents, and more than 12,000 lenders who have created a profile and are active on the site. In fact, 25 percent of Zillow’s monthly traffic – or 2.1 million unique visitors in June – self-identified as a real estate professional.

This latter bit suggests to me that when SMBs/realtors see a clear benefit they will self-provision listings and profiles. This also speaks to the success of Zillow’s Q&A community.


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