tech
Zillow shares are getting crushed. Here's why
Zillow shares fell more than 11% on Monday as investors grew concerned that Google could be testing real estate listings on its search page.
TL;DR
- Zillow shares fell over 9% on Monday due to concerns about Google potentially entering the real estate market.
- Google is reportedly testing real estate sale listings within its search results, powered by data from HouseCanary.
- These test listings allow users to view property details, request tours, and contact agents.
- Some analysts believe Zillow's limited dependence on organic search traffic will reduce immediate financial impact.
- Other analysts view Google's move as a long-term risk, potentially competing with Zillow's Premier Agent program by facilitating agent lead generation.
- The full impact on Zillow's traffic and monetization could take years to materialize and would require a nationwide rollout by Google.