Market Outlook, Real Estate Investment
PRNewswire | August 02, 2023
Zillow® Group's new-construction listings will soon be automatically syndicated to Redfin, connecting home builders with motivated buyers on both platforms. The strategic partnership will dramatically expand the reach of home builder listings on Zillow and allow Redfin customers to explore a broader range of new-construction homes for sale, creating a seamless home-buying experience.
The new partnership comes at a time when new construction is gaining prominence among buyers. In June 2023, new single-family home sales were up 23.8% from a year ago. This is partly because the inventory of existing homes is dwindling and consumers are shifting to new construction to find a home that meets their needs. Zillow's latest market report shows there were 28% fewer new listings added to the market this June compared to last year. A Redfin analysis found that in the first half of 2023, one-third of single-family homes available for buyers to choose from were new construction, a record-high share.
"Zillow provides a standout platform for home builders to highlight their communities and connect with potential buyers. Zillow's Community pages, in particular, help buyers understand the benefits of a new-construction home and give home builders a place to highlight all the amenities within a new-build community," said Owen Gehrett, vice president and general manager of New Construction at Zillow. "The partnership with Redfin extends this unique and valuable resource to a wider audience. It benefits home builders by expanding their reach to additional home buyers, while empowering home shoppers to make confident and informed decisions, regardless of where they choose to shop."
Zillow boasts the largest selection of new-construction communities of all real estate websites in the U.S.,1 making it the ultimate choice for buyers seeking new homes and home builders looking to connect with those prospective shoppers. Through this strategic partnership, home builders will also market their new-construction communities to Redfin's extensive customer base of 50 million monthly visitors. Builders partnering with Zillow will begin to see their listings and communities syndicated to Redfin in the fourth quarter of 2023.
"With buyer demand outpacing the supply of existing homes for sale, Redfin's home-buying customers are increasingly turning to new construction," said Adam Wiener, Redfin's president of real estate operations. "Our Zillow partnership will help our customers discover more homes that fit their criteria. This is a win-win-win for our customers, agents and the builders who advertise with Zillow, who will now reach the homebuyers on Redfin. The partnership provides a new revenue opportunity while allowing us to focus on what we do best, helping customers buy and sell homes with local Redfin agents."
As part of the rollout, Redfin will launch new features to help buyers discover new-construction communities and connect with home builders, powered by Zillow's Community pages. These pages highlight important community amenities, featuring photos, videos, community maps and amenity details, which is incredibly important to new-construction buyers. According to Zillow's 2023 New Construction Consumer Housing Trends Report, 53% of new-construction buyers greatly value shared amenities such as clubhouses and fitness centers, compared to only 24% of existing home buyers.
Community pages also list all available homes for sale within the community, including homes that are move-in ready, nearly complete and lots, and provide a direct link to the builder's website, contact information and sales center hours. These features enable builders to showcase their homes, amenities and details in one convenient place, and soon, the features will be accessible to both Zillow and Redfin shoppers.
Upon the launch of the partnership, Redfin will source non-MLS new-construction listings exclusively from Zillow. New-construction listings available through an MLS will still be discoverable on Redfin.
About Zillow Group
Zillow Group, Inc. is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, great partners, and easier buying, selling, financing and renting experiences.
Zillow Group's affiliates, subsidiaries and brands include Zillow®; Zillow Premier Agent®; Zillow Home Loans℠; Zillow Closing Services℠; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+℠, which includes ShowingTime®, Bridge Interactive®, and dotloop®.
Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with same day tours, and our lending and title services help them close quickly. Customers selling a home in certain markets can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, subject to minimums, less than half of what brokerages commonly charge. Since launching in 2006, we've saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.
Real Estate Investment
PRnewswire | August 22, 2023
Green Street, the preeminent provider of actionable commercial real estate intelligence and analytics, has partnered with Snowflake, the Data Cloud company, to deliver real-time U.S. and Pan-European commercial real estate intelligence on Snowflake Marketplace.
"Green Street is committed to delivering seamlessly connected commercial real estate data, analytics, research and news on both the public and private real estate markets in various formats," said John Guilfoy, Chief Product Officer for Green Street. "This collaboration gives clients yet another means to easily extract extensive time series data and predictive analytics – such as cap rates, market grades, and forecasts – and seamlessly integrate them into their own company models, internal systems, and daily workflows. We are excited to partner with Snowflake for this new method of data delivery."
Some key Snowflake capabilities include:
• Systematic updates: New data and analytics are promptly reflected in Snowflake.
• Integrations: Market participants can connect to their company's preferred integrations, including BI/dashboarding tools, internal databases and more.
Snowflake Marketplace simplifies discovery, access, and the commercialization of data products, enabling companies to unlock entirely new revenue streams and extended insights across the Data Cloud. To learn more about Snowflake Marketplace click here.
About Green Street
Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S. and Europe. For more than 35 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform.
Home and Design
EasyKnock | August 17, 2023
Ribbon, powered by EasyKnock, announces today that RibbonCash – its pioneering cash offer solution – has relaunched in Atlanta and Charlotte.
As one of the pioneers of powerbuying solutions, Ribbon has considered Atlanta and Charlotte as its historical home base, driving the company’s success since its founding in 2017. Ribbon’s product reached around 2 percent of the overall closings in the Atlanta market in 2022, an achievement indicative of the appetite for homeownership.
“The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock. The Southeast in general remains competitive according to Bankrate’s Housing Heat Index. According to the index, despite price declines elsewhere in the United States, the Southeast has held steady due to comparatively affordable prices. Ribbon aims to tap into this reality for everyday homebuyers who seek ways to achieve homeownership for themselves or their family.
“We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership - and seeking the leading tools to compete - has not,” Kessler said.
“We continue to be bullish on Atlanta, Charlotte, and the Southeast overall.” By working with real estate agents and loan officers, and not competing with them as a direct-to-consumer offering like iBuyers, Ribbon sustains its reputation for empowering the real estate ecosystem.
EasyKnock acquired the assets of Ribbon in 2023. Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience.
Together, Ribbon and EasyKnock are ushering in a new chapter for the real estate industry, creating a one-stop shop for financial solutions that serve homeowners, buyers, and sellers across the country.
EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. In 2023, EasyKnock acquired the assets of Ribbon Home and continues to offer Ribbon products to customers.