Zillow Partners with John L. Scott Real Estate for Online Listings
[Update 1: clarifies asset status]
Even with the recent report that its appraisal valuation models (AVMs) are perhaps no better than a homeowner's estimate, the online real estate site, Zillow.com, continues to attract new business. In a partnership announced today, John L. Scott Real Estate will now automatically feed listings to Zillow.
Based in Seattle, John L. Scott will diverge its 15,000 listings to the online marketplace. More than 800 firms now participate in the Zillow Listings Feed, which grew to more than 4m listings since November 2007.
“Zillow is very pleased to partner with John L.Scott, one of the most productive regional real estate companies in the nation, and a highly regarded brokerage with deep roots in the Seattle real estate community,” said Spencer Rascoff, Zillow chief operating officer.
Each listing from John L. Scott includes the standard description of the property, photos and contact information for the agent. The listings will also make the Zillow iPhone app, which has been downloaded almost 1m times since April 2009.
“We constantly look for ways to maximize marketing exposure for our associates and listings. By distributing our listings to Zillow, we are able to expose our clients to Zillow’s audience of nine million unique visitors each month. We believe this offers a tremendous marketing opportunity for our agents and their sellers,” John L. Scott chairman and CEO J. Lennox Scott said.
The report slamming Zillow was published in the quarterly technical and academic publication of the Appraisal Institute, the nation’s largest association of real estate appraisers. Zillow responded that the Appraisal Institute claim is misleading, saying the results are based on outdated and narrow information.
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