Zillow Tumbles

The share price of Zillow, the leading US property portal has taken a tumble as of late, primarily triggered by the announcement that it is buying Mortgage Lenders of America.  According to the company, this is to "streamline and shorten the home-buying process", primarily for those taking advantage of its Zillow Offers program, which sees the company pivoting into the 'i-buyer" sector of the industry.  

The company continues to lose money, but has narrowed the gap from $21.85M last year to $3.09M.

This is part of the continuing trend of portals looking to find their feet in this ever changing industry.  The days of the dominant portal will be eroded by changing technology.  Portals are looking to position themselves in the best place to face the challenges ahead.  Be this as big data sources, i-buyers or even online estate agents.

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Times Have Changed, So Have Property Sales

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