Technology

More than 44,000 agents buying ads on Zillow, up 68 percent from year ago

Real estate portal reports record Q3 revenue, subscriber count and Web traffic

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The number of agents paying to promote themselves on Zillow grew 68 percent from a year ago, to 44,749, the company said in reporting third-quarter results today. But average monthly revenue per subscriber was essentially flat at $264, compared with $270 during the same quarter last year. Zillow reported record revenue ($53.3 million), new subscribers (5,942) and average monthly unique visitors (61.1 million) for the quarter, but reported a net loss of $1.2 million on increased advertising expenses. Revenue for the quarter was up 67 percent from a year ago, with advertising by real estate agents accounting for the lion's share of revenue ($35.1 million). "The third quarter was another extremely strong one for Zillow, as we exceeded our outlook and delivered record results," said Zillow CEO Spencer Rascoff in a statement. "We made significant progress toward our priorities to grow audience, grow our Premier Agent business and grow our emerging marketplaces." Zillow announced...