Incase you haven’t heard – U.S Real Estate website Zillow says it has reached a deal with one of Canada’s big real estate brokerages. Zillow will be featuring Canadian listings by the end of 2018.
Zillow Is Already In The United States:
Currently, in the U.S 79% of home buyers already shop online on their own for real estate. That’s not to say that 79% of home buyers buy their own houses. Zillow provides them the opportunity to shop around and have all homework completed before they meet a realtor. The merge with Century 21 and Zillow hopes to increase exposure for Canadian properties.
The other reason that Zillow is entering Canada is also in part because more and more US citizens and investors are buying Canada real estate. In order to have a smoother transition and support their habits, having a platform to search is key.
“We know U.S. buyers are interested in purchasing Canadian real estate. So, we’re excited to offer the millions of buyers already coming to Zillow for their home search an easy way to see homes for sale in Canada and connect with an agent to help navigate the sale,” the company’s Vancouver-based chief industry development officer Errol Samuelson says in the release.
What Is Zillow?:
Although Zillow is a great platform for the end user to research housing, it is foremost a media company that generates revenue by selling ads next to real estate listings.
Zillow has been testing a program called Instant Offers in Phoenix, Las Vegas and Orlando where Zillow connects home sellers with potential investor buyers or an agent to help sell their home. The idea is to provide consumers with convenience and help them confirm their selling price and timing in the market.
This is a great move for the Real Estate industry. A lot of the tools that have been used in the past are becoming legacy software.
Zillow Allows Just Sold Prices To Be Published:
The press release says Zillow is talking to Multiple Listings Services and real estate boards in Canada. It doesn’t say whether it will be able to publish the same depth of information it offers on American properties where it lists the selling prices of homes.
Canada right now has more limitations on what can be listed on the web. For example – the US has been publishing “JUST SOLD” housing prices and comparables for quite some time now. Canada is just looking into adding this to sites now.
This information is crucial when listing or selling your home. Especially if you are trying to do it without a realtor.
As always, if you need help buying or selling a home do not hesitate to contact Gregg Bamford or Ryan Bamford.