Established in 2006, Zillow Group, Inc. has grown into a widely respected online real estate heavyweight, boasting over 110 million listed properties within the US. A media-heavy approach has enhanced their span and popularity, with an income model largely reliant on ad placements. Operating a similar business framework, Trulia, another prosperous online residential real estate platform, merged with Zillow Group in a $3.5 billion deal in 2015, further amplifying their industry influence.
However, their dominion hasn't encouraged Zillow Group to integrate features offered by smaller competitors. As a result, numerous online real estate platforms aim to unseat Zillow Group's dominance. Let's examine four alternatives to Zillow and its ally, Trulia.
Established as a redefined pathway to purchasing properties, Redfin is emerging as one of the big players in the online real estate field. Its app keeps data updated every five minutes, a welcomed feature for iOS and Android users. Redfin's user interface is strikingly similar to its competitors, offering generalized mapping information, instant property comparison tools, housing data points, and additional related information.
Where Redfin sets itself apart, however, is in its unique features not offered by Zillow and Trulia. It employs a highly-rated real estate agency team and offers part of the real estate commission back to the purchaser. Despite being hit with accusations of racial discrimination in October 2020, Redfin remains a viable competitor in the industry.
Homesnap comes with an intuitive map-based search function and a wealth of property information. Its innovative mobile app enables users to click a picture of a house for sale, following which the app fetches the necessary listing information. Homesnap's outshines other platforms thanks to the app’s ability to provide users with property values, even for homes outside the market.
Next, we have NeighborhoodScout, a platform that specializes in providing detailed neighborhood information within the US. The platform presents data on topics including average house values, local schools, demographic data, and crime rates, most of which are free. However, access to more detailed reports does come with a subscription fee of $39.99 per month.
Lastly, Realtor.com, a News Corp-owned platform, offers a straightforward user experience with the most current listings. Connected directly with the MLS, it presents an excellent starting point for home hunters. The added texting feature enables quick communication with real estate professionals.
A few other worthy mentions are Eppraisal, which provides insightful sales and appraisal estimates, and Xome that lists foreclosures and bank-owned auctions. FSBO.com, a site focusing on homes sold directly by owners, and Homes for Heroes, aimed at providing real estate assistance to members of crucial service sectors are also great alternatives to Zillow and Trulia.
Similarly, Apartments.com, Zumper.com, and Rentler.com offer a range of rental options, making them great alternatives for rental listings previously dependent on Zillow.
Although Zillow and Trulia have managed to grasp a significant portion of the market, the rise of these promising competitors emphasizes the importance of diversification when making substantial financial decisions such as buying a home.