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Media, Communications, Internet, Finance

Zillow Tackles Home Improvement


Real estate listing site Zillow.com on Thursday expanded its business with the launch of a directory of real estate professionals who serve homeowners.

 

The Zillow Professional Directory is a listing of more than 150,000 real estate agents, contractors, landscapers, architects, and others registered with Zillow.

 

In a crushed U.S. housing market, Zillow continues to seek ways to recalibrate its various online assets to attract more visitors and create new opportunities for ad revenue.

 

A survey released Thursday by Zillow rival Trulia said that there is a crisis of confidence among homebuyers. More than 70 percent of non-homeowners said they have no plans to purchase a new home in the next year.

 

Younger respondents between 18 and 34 blame the cost of homes while respondents aged 35 to 44 blame concerns about being able to qualify for home loans.

 

The main reason why people visit Zillow or Trulia is because they are looking to buy or sell  homes, but with the current capital markets crisis, Zillow is looking to vary its traffic.

 

“If nobody is buying or selling houses, Zillow is hoping that this professional directory gives homeowners a reason to come to their site,” said Greg Sterling, an analyst with Sterling Market Intelligence. “There is still some remodeling and renovation going on even in this very bad market.”

 

In the past few months Zillow has carved out various new roles for itself in adjacent services beyond just its homes listing.

 

In April, the Seattle-based firm added a mortgage marketplace for lenders to get in front of Zillow’s 5.4 million monthly visitors. (see ZillowHosts Mortgage Open House)

 

In July, Zillow announced that it will seek the counsel of a board of executives handpicked from the brick-and-mortar sector of the real estate market.  Zillow said it will seek the board’s advice when creating new products and services. (see: Zillow Taps Brokers for AdviceOn Future Moves)