Zillow has been considered a leader in the consumer real estate information market since its launch in 2006. After $87 million of venture funding, Zillow has not scared away its well-funded competition.
Cyberhomes is a subsidiary of Fidelity National Financial, one of the nation's largest title companies.
John Cook, on his popular Seattle blog, seemed to have it backwards - that HAR is "looking to syndicate for-sale listings to Zillow.com." [Editor's note - our original story was cited with Headline: Zillow Asks HAR for Houston Real Estate Listings Data.]
HAR was clear that "...we have not been able to come to an agreement at this point."
HAR confirmed on Friday that negotiations are ongoing and did not confirm speculation that Zillow may be asking for better terms than Cyberhomes.
Zillow's venture investors are unlikely to be patient as competition may be beginning to stifle Zillow's growth.
Reports across the internet suggest traffic is stagnant at Zillow. Zillow reps have asserted that Year-over-Year growth is at 20%. Not stagnancy for sure.
Nonetheless, unlikely to satisfy investors as its competitors begin to make headway.
Gaining access to HAR listings may help further growth for Zillow - handing Zillow traffic at little marginal cost.
Zillow, for its part, has been signing deals left and right with individual brokerages to host their listings.
The Cyberhomes deal is a coup Zillow will look to follow - a rarity for what seemed like a market leader.
The perception of Zillow as market-leader-cum-800-pound gorilla is one of those rare oddities of good timing and great PR in early 2006.
Within a month of Zillow's launch, RealEstateABC launched (an Internet Brands company) with what appears to be a similar offering, which has gained much less traction.
Trulia, a real estate listing site, had already been courting real estate shoppers, and now lags Zillow's traffic.
Cyberhomes spotted Zillow more than half a year head-start in courting a deal with HAR - only launching a year ago Friday (11/9/2006).
Zillow will unlikely sit still.
HAR will surely announce a Zillow deal - or the death of a potential one - soon.
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source: houstonrealnews.com
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