TECHNOLOGY TIPS – ZILLOW TO BUY TRULIA

TECHNOLOGY TIPS – ZILLOW TO BUY TRULIA

At some point in your home search you have probably gone online and searched at Realtor.com Trulia or Zillow.

In an announcement today Zillow will be buying Trulia for $3.5 billion. This move propels Zillow to the solid number one leader in the online real estate search market. Zillow and Trulia both provide online home searches for consumers who are looking at homes condos or rentals listed in the local MLS (multiple listing service). According to Benchmark analyst Daniel Kurnos "It’s a very sound business move by Zillow. They wiped out their closest competitor." Combined both sites have reported 137 million unique visitors for June.

Zillow and Trulia will maintain their brand identities. Zillow will continue to offer their popular Zestimate tool. Both providers will continue to offer information about the neighborhood schools crime reports and mortgage calculators. While some contend that this merger will have an adverse effect on the local Realtor Analyst Bradley Safalow of PAA Research disagrees. Safalow is on record stating that neither company has changed the game at this point.

The board of both companies have approved the sale and purchase. The final merger is expected to be complete in about a year.

CATHY MALLERS & DEAN’S TEAM CHICAGO