Disruptive Forces Impacting the Real Estate Industry

Disruptive Forces Impacting The

Real Estate Industry

Disruptive Forces

207 Cities 45 Countries

33,000 Cities 192 Countries

1 Million Listings

100 Million Consumers 103,000 Premier Agents

31,000 Restaurants

62 Million Subscribers

+50 Million Users

Disruptive Forces Impacting The

Real Estate Industry

1 Regulatory Pressures

2 Wall Street Influence

3 Internal Forces –

Organized Real Estate

4 Market Forces – The Portals

5 Changing Consumer Demands

& Agent Behaviors

Regulatory Pressures CFPB – Lenders, Title, Appraisals, Brokers

Regulatory Pressures Employee VS. Independent Contractor

Profitable

Accountable

Innovative

Wall Street

Influences $450M $7.3B

$4.9B $5.6B

$318B

Internal Forces –


AMP

• A parcel-centric database to power MLS services

Upstream

• A single point of listing entry, management, and

distribution for brokerages-powered by the RPR

platform

Internal

Forces –

Organized

Real Estate

Internal Forces – Organized Real Estate

NAR Core Standards

MLS Consolidation

Internal Forces – Broker Public Portal

Market Forces – The Portals Combined $150,000,000 Advertising Impact

realtor.com The Zillow Group

Market Forces – The Portals

Austin, TX Key Measures – Local Market

Geography : AUSTIN, TX

Time Period : July 2015

Target : Total Audience

Key Measures (Local Market) Media : Real Estate [Undup.]

Real Estate [Undup.] Date : 8/28/2015

©2015 comScore, Inc

Media Total Unique Visitors (000)

Total Minutes (MM)

Total Visits (000)

Average Minutes per

Visit

Average Visits per Visitor

Total Internet : Total Audience 1,045 2,064 80,144 25.8 76.7

(u) Real Estate 410 31 3,721 8.4 9.1

1 [P](U) Zillow Group 188 4 992 4.5 5.3

[M](U) ZILLOW.COM 163 3 865 3.3 5.3

[M](U) TRULIA.COM 108 1 316 4.6 2.9

2 [P](U) Realtor.com Network 72 3 253 10.1 3.5

[M](U) REALTOR.COM 70 3 248 10.1 3.6

3 [P](U) RentPath Network 26 0 35 4.4 1.4

San Antonio, TX Key Measures – Local Market Geography : SAN ANTONIO, TX







Total Minutes (MM)

Total Visits (000) Average Minutes

per Visit Average Visits

per Visitor


(u) Real Estate 440 19 4,016 4.9 9.1

1 [P](U) Zillow Group 211 8 1,710 5.0 8.1

[M](U) ZILLOW.COM 173 5 1,507 3.6 8.7

[M](U) TRULIA.COM 103 2 356 6.5 3.5

[C](U) TRULIA.COM Rentals 26 0 78 4.4 3.0

2 [P](U) Realtor.com Network 88 3 505 6.5 5.7

[M](U) REALTOR.COM 85 3 495 6.5 5.8

3 [M](U) ForRent.com & Homes.com Network 55 0 126 3.5 2.3

4 [P](U) RentPath Network 44 1 124 5.1 2.8

5 [P](U) Apartments.com Sites 35 1 122 4.5 3.5

Geography : DALLAS-FT. WORTH, TX







Total Minutes (MM)

Total Visits (000)

Average Minutes per

Visit

Average Visits per Visitor


(u) Real Estate 1,231 47 9,733 4.8 7.9

1 [P](U) Zillow Group 561 16 3,501 4.5 6.2

[M](U) ZILLOW.COM 450 11 2,992 3.5 6.7

[C](U) ZILLOW.COM Rentals 82 1 389 1.9 4.7

[M](U) TRULIA.COM 230 4 796 5.0 3.5


[M](U) HOTPADS.COM 32 0 59 5.4 1.9

2 [P](U) Realtor.com Network 278 10 1,498 6.6 5.4

[M](U) REALTOR.COM 251 9 1,468 6.4 5.9

3 [C](U) Yahoo Real Estate 104 1 182 7.2 1.7

Dallas/FT Worth, TX Key Measures – Local Market

Geography : HOUSTON, TX







Total Minutes (MM)

Total Visits (000) Average Minutes

per Visit Average Visits per

Visitor


(u) Real Estate 1,222 92 12,231 7.5 10.0

1 [P](u) HAR.com Network 483 22 2,134 10.3 4.4

[M](u) HAR.COM 482 18 2,066 8.5 4.3

[M] HARMLS.COM 50 4 438 9.5 8.8

2 [P](U) Zillow Group 453 20 3,789 5.3 8.4

[M](U) ZILLOW.COM 393 17 3,726 4.5 9.5

[C](U) ZILLOW.COM Rentals 75 1 292 3.7 3.9

[M](U) TRULIA.COM 157 3 667 4.9 4.2


3 [P](U) Realtor.com Network 246 21 2,040 10.1 8.3

[M](U) REALTOR.COM 220 20 2,037 9.9 9.3

4 [M](U) ForRent.com & Homes.com Network 146 2 314 5.8 2.2

Houston, TX Key Measures – Local Market

Rank Website % of Texas Visits

1 Zillow Group 28.50

2 Realtor.com 10.19

3 HAR.com 6.77

Texas Real Estate Visitors – July, 2015 (Source: Hitwise)

Changing Consumer Demands & Agent Behavior

90% of consumers want agent ratings.

1 Million Agent Reviews

5,142 Agents Survey Clients 4.94/5.00 Total Surveys Sent to Clients 215,773- 54% Completed


96% of consumers

want to view agent production.


Consumers want home values.


92% of consumers want transaction management.

$108 Million Costs

162,118 transactions opened in SureClose


NAR $155 (Y) x 1,000,000 =

$155,000,000

Zillow $4,200 (Y) x 103,000 =

$432,600,000

• High def images of homes • Video in new Zillow TV

Channel • New Apple TV available in

October


Disruptive Forces

Regulatory Pressures

Wall Street

Influences

Internal Forces –


Market Forces – The Portals

Changing Consumer

Demands & Agent Behaviors

Disruptive Forces Impacting the Real Estate Industry

Real Estate

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