Zillow Group, which already boasts Zillow, Trulia, StreetEasy, and Naked Apartments in its portfolio on online real estate companies, is growing again with the acquisition of Hamptons Real Estate Online, a Hamptons-focused real estate portal.
The acquisition expands Zillow’s reach on New York, as StreetEasy and Naked Apartments are both New York City-focused websites.
“The Hamptons, like NYC, is a unique real estate market and is one of the most popular second home and vacation rental destinations for New Yorkers,” Zillow said in a release.
“HREO's comprehensive listings across the Hamptons, the North Fork and Shelter Island – all areas located along the east end of Long Island, New York – are bolstered by unique amenity, location, rental time periods and house-style filters specific to this region,” Zillow continued.
According to Zillow, the deal also includes RealNet and Open RealNet Exchange, HREO's listing entry and distribution software that provides real estate professionals with tools to manage and market their listings.
Zillow said that it plans to “fuel improvement” for all of the HREO operations and “provide better experiences” for Hamptons buyers, renters and real estate professionals.
“HREO and StreetEasy are leaders and experts in two real estate markets that are not only critically important on their own, but are also intrinsically linked to one another: the Hamptons and NYC. It's a natural pairing,” said Susan Daimler, general manager of StreetEasy.
“We're excited to bring our resources and focus to another unique market that also has a large shared audience among the buyers, renters and real estate professionals in NYC and to work closely with our industry partners to develop even better tools and experiences,” Daimler concluded.
Financial terms of the deal were not disclosed.