If new construction builders were feeling a little bit left out of the Zillow Group club, they’ve just been extended an invitation.
Today, Zillow Group announced the acquisition of New Home Feed, “a streamlined listing management technology that allows builders to input, manage and syndicate their listings across the web.”
Founded in 2009, New Home Feed focuses on the three services outlined in the statement:
- Syndication – Gives builders the opportunity to list their new construction homes on a network of websites (it’s easy to see how Zillow Group can help with this)
- Listing management – Provides an interface that showcases a builder’s communities, plans and inventory
- “Transparent reporting” – “Get intuitive traffic and lead reports, see top performers, and see transparent comparisons of listing-website traffic side-by-side,” says the New Home Feed Facebook “About” section.
“As the leader in new construction data management and a tool many of our builder customers currently use, New Home Feed felt like a natural extension of our current services,” said Tony Small, group vice president of emerging marketplaces at Zillow Group, in the press release. “By incorporating New Home Feed’s tool set into our offering, it will be easier for partners to send their listings to Zillow Group and will improve the quality and accuracy of our new construction listings.
“This acquisition is another step toward our ultimate goal for new construction at Zillow Group, which is to help builders market their homes to consumers with a great return-on-investment.”
“Many of our customers already use Zillow and Trulia to market their new construction homes,” said Rick Phillips, general manager of New Home Feed, in the release. “New Home Feed allows them to easily input, manage, and syndicate listings, and view intuitive reports in one dashboard. We are thrilled to start working with the Zillow Group team to integrate our technology directly with the platform to meet the rapidly growing needs of the new home industry.”
Zillow Group added that it “will discuss the acquisition further at the Zillow Group New Construction Forum, September 14, 2017, in Austin, Texas.”
Inman has reached out to see if the company will disclose terms of the deal and the implications for real estate agents in the meantime and will update with responses as they come in.