Aiming to bring one more piece of the real estate industry’s core infrastructure under its control, Zillow announced it has agreed to buy open house scheduling platform ShowingTime.

Nearly 1 million real estate agents across the country use ShowingTime to manage home tours, Zillow said in its announcement – a function that’s grown substantially more important with the need to keep different parties of buyers from being in a for-sale house at the same time, due to the COVID-19 pandemic – and coordinated 50 million showings last year. The service has also been integrated with hundreds of Multiple Listing Services across the country.

Zillow is buying the company for $500 million and pledged to continue to invest in the service and “increase its engagement among agents and partners.” Zillow said the move will promote “a more efficient, digital future” in real estate.

Attempting to mollify fears that it would use its market position to penalize agents who don’t participate in its Premier Agents program, Zillow said has no plans to close it off to outside agents.

“We have been impressed with ShowingTime’s ability to simplify a cumbersome but critical part of the home shopping experience by integrating with MLSs, agents and brokers, and giving buyers’ agents an easier way to schedule showings with listing agents,” Zillow Group Chief Industry Development Officer Errol Samuelson said in a statement. “ShowingTime will remain an open platform available to all industry participants, and we expect to grow ShowingTime’s engagement through all channels to ensure touring is easier for the industry and consumers.”

Zillow Group already owns such key companies as Dotloop, used for securely managing and tracking the signing of offer letters and other key transaction documents, and Bridge Interactive.

Zillow Buys Popular Home Tour Scheduler ShowingTime

by Banker & Tradesman time to read: 1 min
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