Zillow announces plans to acquire mortgage lender
In a bid to boost its market share, online real estate listings catalogue Zillow has announced its latest move in acquiring Mortgage Lenders of America.
This represented the next step in an initiative that will help home sellers upload additional information to facilitate the faster solicitation of offers for their properties.
Offering mortgages will “streamline the process for people who buy a Zillow-owned home,” Zillow president of media and marketplaces Greg Schwartz told Bloomberg.
As of press time, officials have not revealed the terms of the acquisition.
Read more: Canadian home buyers to enjoy enhanced search platform
Earlier this year, Zillow and residential real estate franchisor CENTURY 21 Canada established an alliance which will directly mirror the latter’s Canadian home listings to the marketplace, thus taking advantage of Zillow’s large digital footprint across North America.
The agreement will “drive exposure of Canadian real estate listings to the millions of buyers who visit Zillow every month,” the announcement stated, adding that approximately 79% of home buyers in the U.S. shop for homes via online platforms.
”We know U.S. buyers are interested in purchasing Canadian real estate, so we're excited to offer the millions of buyers already coming to Zillow for their home search an easy way to see homes for sale in Canada and connect with an agent to help navigate the sale,” Zillow Group chief industry development officer Errol Samuelson said.
