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ZILLOW ACQUIRES SHOWINGTIME
UPDATE: READ THE STATEMENT FROM IRMLS LEGAL COUNSEL ON THE ZILLOW ACQUISITION OF SHOWINGTIME HERE
On February 10, Zillow announced they have entered into an agreement to acquire ShowingTime. In this acquisition, Zillow states they will continue to operate ShowingTime as an open platform for the entire real estate industry. Much like their acquisitions of dotloop, Bridge Interactive, and Retsly, Zillow states ShowingTime will operate independently of Zillow Group and will remain accountable to the data privacy and restrictions required in existing agreements.
“We have been impressed with ShowingTime’s ability to simplify a cumbersome but critical part of the home shopping experience by integrating with MLSs, agents, and brokers, and giving buyers’ agents an easier way to schedule showings with listing agents,” said Errol Samuelson, Chief Industry Development Officer at Zillow Group. “ShowingTime will remain an open platform available to all industry participants, and we expect to grow ShowingTime’s engagement through all channels to ensure touring is easier for the industry and consumers.” He added, “ShowingTime has a network of nearly one million agents across North America and has developed relationships with hundreds of Multiple Listing Services (MLSs). ShowingTime coordinates schedules behind the scenes so that agents can seamlessly book a confirmed home showing online and focus on their clients, not coordinating a complicated process. In 2020, the company facilitated more than 50 million showings industry-wide. Agents can update their listings’ availability for showings through the network, enabling interested buyers’ agents to schedule home tours online with the click of a button.”
The National Association of REALTORS® issued a statement regarding Zillow’s acquisition of ShowingTime, “Zillow is an independent company and as such, they create their own business rules for operation. NAR has no relationship with Zillow that would provide us with the opportunity to offer input into their business.”
Before approval, this acquisition will be rigorously investigated by anti-trust regulators. At this time, there are no changes in the IRMLS’ usage of ShowingTime.