CHICAGO, Oct. 14, 2011 /PRNewswire/ -- ForSaleByOwner.com has partnered with Zillow® to add customer real estate listings to Zillow and Yahoo!® Real Estate's searchable database of properties for sale. Through this partnership, ForSaleByOwner.com, the nation's largest and most heavily trafficked "by owner" website, will extend its listings' overall exposure by as many as 24 million additional unique visitors per month.
As of today, all ForSaleByOwner.com customers will also receive listings on Zillow.com and Yahoo! Real Estate, providing these sellers more reach than ever before.
For an additional fee, ForSaleByOwner.com customers can upgrade to a "Featured Listing" on Zillow.com and Yahoo! Real Estate. Sellers who purchase the Deluxe or MLS Enhanced Listing packages on ForSaleByOwner.com will benefit during their first 30 days by being a "Featured Listing" on Zillow and Yahoo! Real Estate. Featured listings on Zillow.com drive about three times more traffic compared to standard listings(i).
"ForSaleByOwner.com sees this new partnership as another powerful tool in helping homeowners sell on their own," stated Eddie Tyner, Vice President of Tribune Digital Marketplaces and General Manager of ForSaleByOwner.com. "Home sellers will now have an opportunity to really increase their exposure and success rate at a reasonable price point."
Today, online tools and information allow homeowners to market their own properties in a way that was unthinkable in the not-so-distant past. A recent study shows that nearly ninety percent of home buyers rely on Internet listings when searching for their new homes.(ii)" ForSaleByOwner.com has developed a comprehensive online community designed specifically to empower home buyers and sellers. By providing tools and resources previously only available to real estate agents, ForSaleByOwner.com continues to equip sellers with everything they need to save thousands of dollars of their hard earned equity while providing buyers with a hassle-free platform to find their next homes.
This syndication partnership marks the latest home marketing enhancement to the repertoire of tools ForSaleByOwner.com offers.
ForSaleByOwner.com is the nation's leading "by owner" real estate website, connecting home sellers with home buyers since 1999. The company offers a wide range of listing packages ranging from $85 to $699 plus advertising, information, tools and resources to empower people to sell their homes themselves.
In 2010 alone, ForSaleByOwner.com facilitated the sale of $1.8 billion of residential real estate, accounting for upwards of $72 million(iii) in home equity saved by sellers.
By selling a home without a real estate agent, sellers can save thousands of dollars by eliminating the commissions and fees a full service agent would command. A homeowner selling a $300,000 house through a full service real estate agent would forfeit up to $18,000 of their hard-earned home equity, based on the traditional 6% commission rate that has become the industry norm. ForSaleByOwner.com was acquired in 2006 by Tribune Digital, a division of Tribune Company, based in Chicago, IL.
About Zillow, Inc.
Zillow (NASDAQ :Z ) is the leading real estate information marketplace, providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. More than 24 million unique users visited Zillow's websites and mobile applications in September 2011(iv). Zillow, Inc. operates Zillow.com®, Zillow Mortgage Marketplace, Zillow Mobile and Postlets®. The company is headquartered in Seattle.
(i) Source: Zillow internal, September 2011
(ii) NAR, Profile of Home Buyers and Sellers, 2010
(iii) Based on sellers paying a 2% commission to the agent representing the buyers of their homes as opposed to paying a full 6% real estate commission.
(iv) Internal tracking via Omniture, September 2011. Includes Zillow's websites and mobile applications.