“We are impressed by ShowTime’s ability to simplify a cumbersome but critical part of the home shopping experience by integrating with MLSs, agents and brokers, and by providing buyers agents with an easier way to schedule impressions with agents on the list, “said Errol Samuelson, Chief Industry Development Officer at Zillow Group. “ShowTime will continue to be an open platform available to all industry participants, and we expect to increase ShowTime engagement across all channels to make touring easier for the industry and consumers.”
ShowTime has a network of nearly a million agents North America and has developed relationships with hundreds of Multiple Listing Services (MLSs). ShowTime coordinates schedules behind the scenes, so agents can seamlessly book a confirmed home show online and focus on their customers, without coordinating a complicated process. In 2020, the company facilitated more than 50 million impressions across the industry. Agents can update the availability of their listings for network impressions, allowing agents of interested buyers to schedule online tours with the click of a button.
ShowTime’s industry-leading technology will help increase the number of tours and transactions for industry partners, including Premier Agents. Many Zillow Premier agents are already using ShowTime and appreciate the convenience it offers when planning tours. Zillow buyers who request tours are high intent buyers, and ShowTime’s service enables more seamless tours for those buyers and sellers.
“This is a pivotal moment in the real estate industry and customer expectations for a simplified, tech-supported experience are on the rise,” said Mike Lane, Chairman of ViewingTime. “ShowTime technology serves nearly one million real estate professionals, and we look forward to sharing our technology solutions with even more clients, enabling a truly seamless real estate transaction that is efficient and simple.”
The acquisition will accelerate adoption of ShowTime’s technology as home shoppers and sellers, agents and industry partners move towards a more efficient, digital future.
ShowTime will maintain its existing data privacy policy and will continue to operate as an open platform for its existing and new partners – many of whom already use other Zillow Group industry offerings such as Dotloop and Bridge Interactive. The transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act.
About Zillow Group:
Zillow Group, Inc. (NASDAQ: Z and ZG) is rediscovering real estate to make it easier to unlock the next chapter of life.
As the most visited real estate website in the United States, Zillow® and its subsidiaries provide customers with an on-demand sales, purchase, rental or financing experience with transparency and a near-seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, giving sellers control over their timeline. Zillow Home Loans ™, our affiliated lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed real estate agency, to streamline Zillow Offers’ transactions.
Zillow Group’s affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans ™, Zillow Closing Services ™, Zillow Homes, Inc., Trulia®, Out East®, StreetEasy® and HotPads ®. Zillow Home Loans, LLC is an equivalent mortgage lender, NMLS # 10287 (www.nmlsconsumeraccess.org).
About Show Time:
ShowTime is the leading technology provider for stock market and market statistics management in the residential real estate industry, with more than 1.2 million active listings subscribed to its services. Displaying products and services simplifies the appointment planning process for real estate professionals, buyers and sellers, while the MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, real estate agents, agents and other real estate companies. as recruiting tools for brokers. ShowTime products are used in 370 MLSs representing nearly one million agents in the US and Canada.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, but not limited to, statements relating to the proposed acquisition of ShowTime, Zillow The Group’s business and financial outlook, strategic priorities and operational plans for 2021. Statements with words such as ‘can’, ‘believe’, ‘anticipate’, ‘expect’, ‘plan’, ‘plan’, “project”, “” projections “,” continue “,” business prospects “,” forecast “,” estimate “,” outlook “,” guidelines “or similar expressions are forward-looking statements. Differences in actual results of the Zillow Group those described in these forward-looking statements may result from actions taken by Zillow Group and from risks and uncertainties beyond Zill’s control ow Group, including but not limited to meeting conditions precedent to the closing of the proposed acquisition of ShowTime by the Zillow Group, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act. For more information on possible factors that could affect Zillow Group’s business and financial results, please refer to the “Risk Factors” described in Zillow Group’s Annual Report on Form 10-K for the past year. December 31, 2019 and in the Zillow Group’s Quarterly Report on Form 10-Q for the past three months September 30, 2020 filed with the SEC and in Zillow Group’s other filings with the SEC. Except as required by law, Zillow Group does not intend and undertakes no obligation to update this information to reflect future events or conditions.
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SOURCE Zillow Group
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