Zillow now has its brokerage license in New York, according to media reports this week, but has no intent to operate as a “traditional brokerage,” the company says.
As The Real Deal recently reported, Zillow is after broker licenses in multiple states as the company explores new revenue streams, some of which involve a license, a spokesperson stated. According to The Real Deal, in September, the company hired Doug Perlson, founder of RealDirect, a brokerage in New York City, and appointed him broker of record in New York.
“In order to cover these new services, Zillow has been working to get traditional brokerage licenses across the country, even though we aren’t operating as a classic, traditional brokerage,” company representative Viet Shelton told The Real Deal.
Zillow became licensed in Arizona in 2018, when it began piloting Zillow Offers, its iBuying program, which launched in Phoenix. According to The Real Deal, the company is becoming licensed, or already is, in roughly 25 states.
In addition to Offers, Zillow has been developing a tool that allows landlords to receive rent through its website. In New York City, the company operates the portal StreetEasy—which the brokerage community has tussled with—and last year, it started testing “Experts,” a new referral strategy. Zillow has also begun lending through Zillow Home Loans, which launched last year.
Zillow is announcing its 2019 financials later this month.
Suzanne De Vita is RISMedia’s senior online editor. Email her your real estate news ideas at sdevita@rismedia.com.
