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Zillow Announces Rental Listings!

I have an investment property in Florida. In the last three years, twice I’ve listed it for sale. Twice I’ve ended up renting it. Twice I’ve relied on my agentto help me with the decision making that took me down this path to simply get the home occupied. It is a big reality that today’s real estate market is forcing many people, like myself, to wear the landlord hat because of market conditions.

Today I am excited to announce that Zillow is expanding its marketing services to not only include homes FOR SALE, but now also include the ability to market homes as being FOR RENT.

Zillowhas always been a little different than other real estate sites because our foundation is a data base of ALL homes, not just homes that are currently on the market. Today we have about 93M property records on the site, with about 3.6M of them having been flagged as being for sale. Because of this, we get people in all stages of home ownership, from renting to buying to owning.

According to the U.S. Census American Housing Survey 2005, there are 34M rental households in the US, with 53% of rentals being 4 units or less and 30% being single family homes. And when we look at the 8M+ people that visit Zillow each month, nearly 1M of them are exclusively renters with untold others “on the fence” on whether to buy or rent.

So what is Zillow’s new product?

  • Zillow offers a Featured Rental Listing for just $9.95 for 180 days. Featured Listings are sorted to the top of search resultsand receive six times more views than non-featured listings.
  • Rich rental listings can be created with unlimited photos and detailed property information, and you only have to post this information once for up to 180 days.

How will people find my Rental Listing on Zillow?

  • Of course we’ll have the standard search, but we couldn’t just stop there.
  • Zillow has built the industry’s first search by monthly payment– allowing users to simultaneously search for homes for sale and for rent based on a monthly payment they can afford. (monthly payment on homes for sale will be calculated using that day’s mortgage rate for a 30-year fixed mortgage rate, assuming 20% down)

Zillow’s goal is to help people make intelligent and informed choices in all stages of life – whether they are renting, deciding whether to rent or buy, shopping for a home today, refinancing, remodeling or just dreaming. With the addition of rental listings and search, we are giving our users another tool to help them throughout their decision making process.

Click here to experience the For Rent search on Zillow.

Announcement on the Zillow Blog.

Post a home for rent.  

 

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Comment balloon 66 commentsSara Bonert • December 15 2009 08:14AM

Comments

This is a huge announcement for this company. Best wishes

Posted by Harry F. D'Elia III, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (RentVest) over 10 years ago

Sara -

 

Thanks for letting us know, this should make Zillow even better and attract even more people to the site.

 

THANKS!

-Phil Graves-

utahbuyeragent.com

Posted by Phil Graves, Utah Buyer Agent (utahbuyeragent.com) over 10 years ago

Great news! I have rental listed that I personally own...clicking over to Zillow to set up a listing right now!

Posted by Holly Weatherwax, A Great Real Estate Experience ( Associate Broker, Momentum Realty) over 10 years ago

Sara,  I am sending you a hug from Atlanta.  How very exciting.  I provide residential sales as well as executive home leasing services in Atlanta and Sandy Springs. I am a medium fan of Craigslist and Hotpads at this time.  I just seem to get a lot of sales e-mails from any postings.  I am thrilled to hear this news.  Thanks for sharing.  I love another resource.  All the best, Michelle

Posted by Michelle Francis, Realtor, Buckhead Atlanta Homes for Sale & Lease (Tim Francis Realty LLC) over 10 years ago

Thanks all for the positive support!  We are really excited about this too. 

The next big move in the Rental space you'll see from us in early 2010 will be the ability to ingest Rental listings via a feed.  That will also be a big help for those with larger Rental businesses or divisions. 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

That is great news!  Thanks for keeping us updated on Zillow and what is offered.  We always need more resources for our homes. 

Posted by Joyce Thomas, Your Home Sold Guaranteed! (The Thomas Group Brokered by eXp Realty) over 10 years ago

This is interesting. Will brokers/agenst be able to add their rental listings via syndication?

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) over 10 years ago

William - No today, but soon.  It is a high priority for us to get the technology to accept feeds in place (eta - early 2010).  I'll definitiely do a post when we can! 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Thanks for the insight, I already use Zillow and will positivly use this new feature. What a great toll to an already great site.

Posted by Tom Brintzenhofe- Exit Diamond Realty Pa over 10 years ago

Thanks Sara. I am really excited about this announcement. Clients are always telling me they look to Zillow for their real estate needs. Including rentals is a wonderful new addition to the site. Thank you.

Catherine in NY

Posted by Catherine C Capasso, Cottage or Castle, What's Your Dream! (Catherine Cornelia Real Estate) over 10 years ago

Great news, Sara...I'll spread the word to landlords I know! :)

Leilani

Posted by Bob & Leilani Souza, Greater Sacramento Area Homes, Land & Investments (Souza Realty 916.408.5500) over 10 years ago

Great oportunity for your company!  Ill start posting my rentals there!

Posted by Trisha P Realty Group, "Holding the Keys to Your Dream Home" (Realty Executives) over 10 years ago

I'll take the other view.... Bottom line, the fastest and cheapest way to advertise a property for rent these days is craigslist. Fast and free and it works. 'nuff said.

Posted by Michael Myers (King-Rhodes & Associates) over 10 years ago

Hi Sara,

Thanks for the update. This sounds like a great idea!

Posted by Michael Cole (CPG Tours) over 10 years ago

Michael- No argument here about Craigslist's popularity.  However, Rentals and For Sale listings aren't free in all markets.  In some major cities across the US, fraud and misuse were such a problem that they had to start charging a nominal amount.  Craig Newmark said doing this helped curb abuse immensely. 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Very exciting but I have to admit that Craigslist has been great for me. For the past few years all my properties have been rented from Craigslist.

Posted by Christa Ross, Helping you buy and sell Pittsburgh's Best Homes (RE/MAX Select Realty - REALTOR and Green Homes Specialist) over 10 years ago

its always good to hear on other ways to market property

Posted by Gene perez (Greater Mortgage Solutions & Valley Hills Realty ) over 10 years ago

Great!  I will let people know about it. Make sense to do this!

Posted by Chuck Carstensen, Minnesota Real Estate Expert (RE/MAX Results) over 10 years ago

wow, can't wait. Probably more inaccurate info disguised as being helpful to our clients.

No thanks.

Posted by Andrew Martin (REMAX Accord) over 10 years ago

I like Zillow, and will use their rental service.

Posted by peter gyoerkoes (Exit Realty NFI) over 10 years ago

Andrew - I doubt someone will pay to post inaccurate data.

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Interesting new change.  I'll have to get in there and check it out.  Thanks for posting!

Posted by Jeff D. Clark, Your Eastern Oregon Real Estate Specialist (Blue Summit Realty Group) over 10 years ago

Dawn Tittsworth York County Pennsylvania Real Estate here !

Great news!

Posted by Dawn Tittsworth York County Pennsylvania Real Estate over 10 years ago

Thanks for the tip!

 

Thanks, Patricia

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) over 10 years ago

This is not the industry's first search by monthly payment.  Hotpads started this in 2007, read the end of this article: http://www.inman.com/news/2009/12/14/zillow-rolls-out-rental-search

Posted by Samuel Thomas over 10 years ago

Sara I think this is a HUGE service for people who never intended to be landlords, but now they are!  Congrats!

Posted by Steve and Eleanor Thorne, Mortgage Loan Johnston County (Equity Resources, NMLS 60596) over 10 years ago

Sara,

What took you so long? You are growing into a service that covers just about everything in real estate, and then some. Way to go.

Posted by Esko Kiuru over 10 years ago

Sara,

I disagree with your point. People are doing that now. They pay to advertise on Zillow and it's full of bad/wrong information.

Posted by Andrew Martin (REMAX Accord) over 10 years ago

Sara: Congratulations! I've always liked what you guys are up to and wish you well!

Posted by Paul McFadden, Pest Control, Seattle, WA. (Paratex) over 10 years ago
I thought everyone just used Craigslist. I would have expected Zillow to start their rental system or free. Build the database first and then charge. The rental market is untapped, you all should do well. Frank
Posted by FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com (Northern Virginia Homes - FRANKLY REAL ESTATE Inc) over 10 years ago

they have the traffic and now will just get more and become better known in the space

Posted by Scott Hoen, COO, Hollywood Title Company 714-270-9607 (HollywoodTitleCompany.com) over 10 years ago

Good to know...thanks for posting.  It's fun keeping up with new technology isn't it??

 

~Katie

Posted by Katie Halle (Scottsdale & Paradise Valley, AZ -Team Evolution - WEST USA ) over 10 years ago

This is great news and it will certainly fill a need!  Thanks ~ brad

Posted by Brad Calef (Coco Plum Realtors) over 10 years ago

I read about that yesterday too.  I think it will be a benefit to have this on Zillow.  Perhaps they'll do similar maps with rental valuations like they do for properties.  Nothing you want to rely on totally, but at least a ballpark of rents in an area.  And Zillow is much more user friendly for searching.

Posted by Karen Crowson, Your Agent for Change (Coldwell Banker Residential Brokerage) over 10 years ago

Sara,

Thanks for the update!  Since I'm a landlord,too, I know where to place my "ad" if my property becomes vacant.

Posted by Kathy Opatka, Serving Ocean City, MD, & The Delaware Beaches (RE/MAX CROSSROADS) over 10 years ago

Good luck with this.  I hope it goes well for you guys.  Rentals are tough.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) over 10 years ago

I am glad Zillow added rentals to the site, but I think charging for it doesn't make much sense. Especially rentals!

Posted by Taylor Shults Philley, Broker, Realtor , GRI (Austin Realty Firm) over 10 years ago

This is a great addition. Will there be an option to create an RSS feed for your searches like you can do on Craigslist? I like this becuase I can feed it into Google Reader and I immediately know when something new comes on the market.

Posted by Christopher Johnston (The Johnston Team) over 10 years ago

Very interesting. Say hi to Mr. Gibbons for me!

Posted by Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) over 10 years ago

Is there both a basic rental listing (free)  and a Featured Rental Listing?

Posted by Maureen McCabe, Columbus Ohio Real Estate (HER Realtors) over 10 years ago

Chris-  There isn't a RSS functionality for either For Sale or Rentals at this point.  Good idea though.  We do have this functionality in our Zillow Advice, where you can get an RSS of questions people pose in your area or a topic of interest. 

Maureen - Good question.  Right now there is only the manually entered, Featured listing.  However because Rentals can be co-mingled with the For Sale search (if the User wishes to search this way), the prioirty placement will matter.  When we start taking Rental feeds in early 2010, there will be a basic and Featured Rental product. 

 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Good feature but not sure why we should pay to post. I wish Zillow well. I also hope agents think about what they're paying for but they just start doing it. Rental is a little untapped but CraigsList is great for rentals, but to pay $10 just don't get it.

Posted by Beverly of Bev & Bob Meaux, Where Buying & Selling Works (Keller Williams Suburban Realty) over 10 years ago

Bev and Bob - We are hoping that by charging a little (basically 10 dollars for 6 months of advertising) it will help keep the data cleaner that the scammers away, while still keep the price low enough for the true landlord. 

Then, since one would be paying a us fee, we wanted to make sure we were giving extra advertising value - over a basic free listings - so the listing will be Featured.  This means that it will show up at the top of relevant search results. 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

When I have relocation clients looking for a 12 month lease on a single family home, it is a nightmare to find an accurate list of available properties.  One client asked if there wasn't an mls for rentals.  Nope, there are a slew of rental sites, and private management sites, and rules about updating listings.

Congratulations!

Posted by Mary Jo Quay, I Move You Home (EXP Realty ) over 10 years ago

I think the industry needs a clearing house concept, private, yet funded by a consortium of major industry players to ensure there is one easy place for buyers to go to without having to figure out the myriad of sites -- probably will never happen, but more is better than less.

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) over 10 years ago

Interesting development for our investor clients. Thank you for the update.

Is the fee just to dissuade spammers, etc.?

Posted by Tom Thornton, Broker Associate, MBA, ABR, CRS, GREEN, GRI, SRES (Realty Austin) over 10 years ago

This is a good move for Zillow and will likely make it an even more popular real estate site.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) over 10 years ago

Love it, Love it, Love it!  I will definitely use this new feature.  Thanks for the info.

 

 

Posted by Theresa Molina, CRS, ABR, ASP 614-777-SOLD Central Ohio Spouses over 10 years ago

That's a good piece of information to learn. Thanks for posting.

Posted by Cheryl Ritchie, Southern Maryland 301-980-7566 (RE/MAX Leading Edge www.GoldenResults.com) over 10 years ago

Great information, thank you for sharing.  Make it a great day!!

Posted by Anonymous over 10 years ago

Tom (#49) - That is a very big reason.  Even just by charging the $1.67 a month ($9.95 for 6 months), really dissuades abuse. 

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Sounds great.  I am a realtor that has put 5 listings into rentals to keep the people happy.  I don't know if I can afford to market for them but I may ask them to reimburse me.

Posted by bonnie over 10 years ago

Thank you Sara for sharing this information.  Love that there's now a place, other than Craigslist, for rental properties listings.  Will list a Huntington Beach rental home as soon as the renovations and repairs are completed. 

Posted by Ginger Foust, Home Stager Oakhurst CA, Dream Interior Redesign & Staging (Certified Staging Professional) over 10 years ago

This should be a big help. Currently, any rental listing I have ends up on zillow automatically through an MLS feed -- except it shows up as "for sale". So I get calls asking me about buying my $4000 colonial listing... a home that would sell for $800,000 even in today's market. Will this change? I believe it comes to zillow through KWLS.

Posted by Dana Scanlon, Bethesda MD- Award-Winning Bethesda Realtor (Keller Williams Capital Properties) over 10 years ago

Sara,

This is a total nerd question, but I wondered if you had any information on if adding the rental info will affect the Zestimates. Thanks.

Posted by Dana Voelzke, Loan Officer/ First time home buyer specialist (loanDepot (203) 733-9408) over 10 years ago

Dana (#57) sorry about that. We will convert listings like those you describe to rentals soon, as well as accept rentals feeds.

Great to hear all the positive feedback here. Thanks!

Posted by Chloe Harford (Zillow) over 10 years ago

Dana- No, the a Rental fee won't affect the Zestimate. 

(Not a nerd questions! :)  I just found out this week I was a nerd by someone in our IT when I told them I shopped for a headboard on Craigslist by getting daily RSS feeds of matches in my outlook - I had no idea! haha Happy Holidays)

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Neat idea and looks like it will bring even more consumers to the site. I wonder what the effect will be on Realtor.com?

Posted by Sandy McAlpine, Search Lake Norman Homes For Sale - Lake Norman NC (RE/MAX EXECUTIVE) over 10 years ago

Sara, thanks for the news...I'm re-blogging this! :)

Leilani

Posted by Bob & Leilani Souza, Greater Sacramento Area Homes, Land & Investments (Souza Realty 916.408.5500) over 10 years ago

Some interesting marketing advice.  I hope a lot of people sign up to make rental searches easier.  I work with investors and want to know value.

Posted by Mike Henderson, HUD Home Hub - 303-949-5848 (Your complete source for buying HUD homes) over 10 years ago

I think it sounds like a good idea, and not very cost prohibitive.  $10 for 6 months to millions of viewers.

Posted by Ed Vogt, Grandville, MI Midwest Properties (Midwest Properties of Michigan) over 10 years ago

I've been using Zillow with no charge and putting my listings on there.  I love Zillow and so do my clients.  Lots of free info for them.

Posted by Karen Rittenhouse, Real Estate Investor (www.JKKPropertyInvestors.com) over 10 years ago

this is great but 10 bucks....is there a free version?

Posted by Dana Devine (Charles Rutenberg Realty) over 10 years ago

Dana - It's $10 for 6 months, not per month.  Today this is the only option.  Stay tuned, may be more news around your question in early 2010.

Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 10 years ago

Dana

It may be the market conditions in San Diego but 99.99% of my rental lsitings get rented in less than 2 weeks on Craigskist. I do get inquiries from Hotpads too. I will look into Zillow for sure, because it never hurts to expose a rental listing as much as possible. I NEVER use the MLS for rentals, I get no response and as soon as an agent sees they have to co-broke the rental fee, they are not interested. and that's fine with me!

Posted by DEBORAH STONE (Balboa Real Estate San Diego, CA) over 10 years ago

"Free" is really the best business model. Just look at Craigs'list. TreeHouseForRent is a free high-end alternative of all the costly rental listing websites. We're nationwide. See why.

Posted by TreeHouseForRent over 10 years ago

Participate