The RealEstate.com site will give real estate professionals a new opportunity to reach first-time buyers who can contact real estate agents directly from listings pages. Agents and brokers will get similar service from the new site as from existing Zillow and Trulia portals.
The new site will enable buyers to search by monthly mortgage cost and downpayment that they can afford with calculations for the total cost including taxes and homeowners.
“We know from our research that affordability is a huge driver for home buyers, and that first-time buyers are more likely to go over budget. By tailoring the home search experience on RealEstate.com around a home’s monthly cost, we hope to make the home buying experience less daunting and even more transparent for first-time buyers,” said Jeremy Wacksman, Zillow’s CMO.
Zillow’s research shows that he millennial group is hungry for resources to help their home search. Although 70% will use an agent, a third will find them online and almost two-thirds will check online reviews.
Information and search capability will also be provided in three languages: English, Spanish and Chinese.
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New online search portal aimed at first-time buyers has been launched by Zillow.