"The search result displays include all property details, along with links to request a tour or contact a buyer's agent. The displays note that the property results are not supplied or sponsored by listing agents or brokers. Industry analysts say the potential for Google to enter into the home search portal space has been viewed as a tail risk to portals like Zillow and CoStar, as well as other industry players, for years."
"In an emailed note, analysts at Keefe, Bruyette and Woods (KBW) wrote that Zillow's significant direct traffic mix and strong brand would keep it somewhat insulated from this move by Google. But they also noted that the market is already ascribing significant negative value to CoStar's Homes.com, as the portal is focused on providing advertising for listing agents, whereas Google's product appears to be focused on buyer's agents, like Zillow or Realtor.com."
"As for Redfin, which was acquired by Rocket Companies earlier this year, the KBW analysts predict that there could be some longer-term negative impact on Redfin's unique monthly visitors. Despite this, the analysts think there is still a very meaningful opportunity for Rocket to monetize more of Redfin's current number of unique monthly visitors, and that the opportunity would still be there even if the number of visitors declines due to Google's new product."
The search result displays present full property details plus links to request tours or contact buyer's agents, and they state results are not supplied or sponsored by listing agents or brokers. Industry analysts view a potential Google entry into home-search portals as a tail risk to established portals like Zillow and CoStar. Prior Google real-estate experiments did not develop into major offerings, producing skepticism about long-term commitment. The Google move prompted declines in listing-portal stocks. KBW highlights Zillow's brand and direct-traffic insulation, notes Homes.com's agent-ad focus faces market pressure, and flags potential Redfin visitor declines alongside monetization opportunities for Rocket. Gannett also launched a portal partnership with AddressUSA.
Read at www.housingwire.com
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