I work with a lot of buyers relocating to our wonderful Lake Norman area and without a doubt most of them use Zillow.com to search for homes. But, some big acquisitions recently have created incredible drama and turmoil within the real estate industry and these are greatly impacting home buyers and sellers and they/you probably don’t even know it!
Okay, so here is the scoop:
- Back on July 28, 2014 it was announced that #1 real estate portal Zillow.com was purchasing #2 real estate portal Trulia.com. Big news!
- Not to be out done, on November 14, 2014 Rupert Murdoch’s News Corp officially acquires Move Inc. including Realtor.com and List Hub
- On February 18, 2015 Zillow’s purchase of Trulia was officially recorded but Zillow stated they would maintain Trulia as a separate portal
- On April 7, 2015 List Hub the company providing an online data to Zillow and Trulia from MLS’s throughout the country and now under the umbrella of Move Inc. and Realtor.com ceased sending listing information from MLS’s to Zillow and Trulia!
So what does this mean to Lake Norman home buyers and sellers? Well, our Carolina Multiple Listing Service has not been able to come to an agreement directly with Zillow to provide our listings’ data. As a result, this is what we Realtors received from Zillow on April 8th:
As of today, your MLS and News Corp’s ListHub will no longer send listings to Zillow Group® sites, including Zillow and Trulia. We’ve been actively pursuing a direct feed agreement with your MLS to ensure you experience no disruption; unfortunately, we’ve not yet come to terms.
As a result, your current listings will be removed from Zillow shortly and your future listings will not be published automatically to Zillow.
Why is this such a big deal? Here are the most recent stats I could find on the top portals online market share:
Share of desktop real estate Web market in February
Source: Experian Marketing Services
The combined total of Zillow and Trulia is 29.25%. Almost one in three home buyers use one of these two sites to search for homes and yet as of today our Carolina MLS is not providing data to either one of them. As a listing agent I have to manually add my listings to Zillow and Trulia.
If you follow this blog, I will let you know when our Carolina Multiple Listing Service signs an agreement with Zillow. In the meantime, while this is being sorted out you will probably find that Zillow and Trulia are not as up-to-date at Realtor.com. So, while you may continue to use them, you might want to also check in with Realtor.com who gets data directly from all multiple listing services in the country.
Are we having fun yet????
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