SEATTLE, May 2, 2017 /PRNewswire/ -- Zillow Group
(Nasdaq: Z and ZG) which houses a portfolio of the largest and most
vibrant real estate and home-related brands on mobile and web,
today launches RealEstate.com, a new consumer real estate brand
tailored to first-time home buyers, many of whom are
millennials.
On RealEstate.com, buyers can search for homes in a completely
new way – by the monthly payment and down payment they can
afford.
Home buyers say finding a home within their budget is their top
concern, even more so than finding a home in a safe neighborhood,
according to the 2016 Zillow Group Consumer Housing Trends
Reporti. Yet, first-time buyers are nearly twice as
likely to exceed their budget as repeat buyers.
To help buyers understand the additional costs associated with
homeownership, RealEstate.com calculates an "All-In Monthly Price"
for every home and breaks out estimated expenses that might roll up
into a monthly payment, including principal and interest, property
taxes, homeowner's insurance, HOA fees and utilities, and closing
costs.
In addition, home shoppers will be able to search for and see
information about homes in English, Spanish or Chinese.
Nearly half of all home buyers (42 percent) are first-time
buyers, and the majority of first-time buyers (56 percent) are
millennials. In addition to playing an increasingly larger role in
the housing market, the millennial generation is more diverse than
older generations.
"RealEstate.com is designed to equip the next generation of home
buyers to find a home that suits their needs and budget," said
Jeremy Wacksman, CMO at Zillow
Group. "We know from our research that affordability is a huge
driver for home buyers, and that first-time buyers are more likely
to go over budget. By tailoring the home search experience on
RealEstate.com around a home's monthly cost, we hope to make the
home buying experience less daunting and even more transparent for
first-time buyers."
Millennial home-shoppers are hungry for resources to help them
in their home search. They rely heavily on technology early in the
buying and selling process, according to the Zillow Group report.
Agents continue to play an important role with this engaged group
of buyers, with 70 percent using an agent in their home search and
they are more likely to find their real estate agent online (29
percent) and to evaluate agents using online reviews (61
percent).
For real estate professionals, RealEstate.com offers another way
to connect with first-time home buyers and millennials. Buyers will
be able to connect with real estate agents directly from the
listing details page on the site. Listings come directly from
multiple listing services, real estate brokerages and franchisors,
agents will receive the same listing treatment they currently have
on Zillow® and Trulia®.
The launch of RealEstate.com builds upon on Zillow Group's
mission to empower people with information so they can make smarter
real estate decisions. At launch, RealEstate.com is available on
desktop and mobile web.
RealEstate.com will join Zillow Group's other consumer brands
including Zillow, Trulia, StreetEasy®, HotPads® and Naked
Apartments®. Zillow Group acquired the URL RealEstate.com as part
of the Trulia acquisition in 2015.
Zillow Group
Zillow Group (NASDAQ: Z and ZG) houses a portfolio of the
largest real estate and home-related brands on the Web and mobile.
The company's brands focus on all stages of the home lifecycle:
renting, buying, selling, financing and home improvement. Zillow
Group is committed to empowering consumers with unparalleled data,
inspiration and knowledge around homes, and connecting them with
the right local professionals to help. The Zillow Group portfolio
of consumer brands includes real estate and rental marketplaces
Zillow®, Trulia®, StreetEasy®, HotPads®, Naked Apartments® and
RealEstate.com. In addition, Zillow Group works with tens of
thousands of real estate agents, lenders and rental professionals,
helping maximize business opportunities and connect to millions of
consumers. The company operates a number of business brands for
real estate, rental and mortgage professionals, including Mortech®,
dotloop® and Bridge Interactive™. The company is headquartered in
Seattle.
Zillow, Mortech, StreetEasy, and HotPads are registered
trademarks of Zillow, Inc. Trulia is a registered mark of Trulia,
LLC. dotloop is a registered trademark of DotLoop, LLC. Naked
Apartments is a registered trademark of Naked Apartments, LLC.
Bridge Interactive, Contact, Cheque and Compose are trademarks of
Bridge Interactive Group, LLC.
(ZFIN)
i The first annual Zillow Group Report is the
largest-ever survey of U.S. home buyers, sellers, owners and
renters, and asked more than 13,000 U.S. residents aged 18 to 75
about their homes – how they search for them, pay for them,
maintain and improve them, and what frustrations and aspirations
color their decisions.
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SOURCE Zillow Group