Zillow Expands it’s Empire

Anyone who has ever looked online for information on homes or apartments knows that Zillow.com’s presence on the internet is unmatched. Almost any time the words “real estate” or “for rent” are searched, Zillow.com’s webpage will come up with information regarding real estate, property management such Boston property management in your area. Zillow is best known for their up to date home value and rental price estimates. Boston property management companies and Massachusetts rental agencies often find these numbers helpful when searching out comps for their clients. Zillow currently has around 2 million “Zestimates” available for home owners and renters alike. According to Yahoo! Finance, “More than 5 million current renters visit Zillow each month on mobile and on the web, searching hundreds of thousands of rental listings”. In March 2012 alone, more than 32 million users visited Zillow’s website, and 1.2 million homes were viewed on Zillow in the month of March alone! With rental rates at an all time high, Yesterday brought breaking news for the real estate world as Zillow,Inc entered into an agreement to purchase RentJuiceCorporation for $40 million in cash. RentJuice is a provider of rental and property management software for Boston property management companies, landlords, and real estate brokers. By acquiring RentJuice, ZIllow will expand their tools and services, creating even more appeal for renters and landlords alike. RentJuice will mark Zillow’s third acquisition in the past 2 years. In fall of 2011, Zillow purchased Diverse Solutions, and in spring 2011 purchased Postlets; both significantly improving Zillow’s strategic expansion beyond the normal and traditional real estate media marketing. The acquisition of Postlets alone brought Zillow a total of 500,000 additional users. Many Boston property management companies and Massachusetts rental agencies use postlets to create nice looking craigslist ads to showcase their properties. Zillow’s user base is multiplying at an incredible speed. Numbers pulled from 2008 state Zillow had 5.5 million users. In four years time that number has quadrupled as latest reports show 19.4 million current users. Here at J. Butler Property Management, a Boston based property management company, Zillow.com is a site utilized on a daily basis.

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