Beamr video compression achieves up to 50% improvement for AVs
SEATTLE - Zillow (NASDAQ:Z), the $19.88 billion real estate technology company with robust financials including a healthy 3.34 current ratio, and Berkshire Hathaway HomeServices announced Tuesday an agreement giving U.S.-based agents in the Berkshire network access to Zillow Showcase, an AI-powered premium listing experience.
The partnership expands on an earlier product arrangement with HomeServices of America, Berkshire Hathaway HomeServices’ parent company. According to the companies, Showcase listings are more likely to go pending in the first 14 days on market and sell for 2% more compared to similar non-Showcase listings on Zillow. The announcement comes as Zillow demonstrates strong business momentum, with revenue growing 15.31% over the last twelve months. According to InvestingPro analysis, the company appears overvalued at current levels, though analysts have set price targets ranging from $66 to $100.
"Our agents have quickly embraced Zillow Showcase, and we expect many more to do the same after our parent company received such strong interest in a similar program," said Vince Leisey, president of Berkshire Hathaway HomeServices.
The Showcase product features an interactive listing design with high-resolution scrolling images, room-by-room photo organization, and prominent agent branding. Zillow has continued to enhance the tool with features like SkyTour, which provides an aerial view of properties.
Bobbi Jo Price, vice president of Agent Sales at Zillow, said agents have reported that Showcase "delivers through every step of the listing life cycle, from winning a listing to getting it in front of more buyers and helping homes sell faster."
The announcement comes as real estate companies increasingly turn to digital tools to differentiate listings in the competitive housing market. The partnership reflects Berkshire Hathaway HomeServices’ strategy to equip its approximately 45,000 real estate professionals with advanced technology.
This information is based on a press release statement from the companies. For deeper insights into Zillow’s financial health and growth prospects, InvestingPro offers 11 additional exclusive tips and a comprehensive Pro Research Report, helping investors make more informed decisions about this rapidly evolving real estate technology leader.
In other recent news, Zillow Group has announced agreements with major financial institutions to unwind certain capped call transactions related to its previously settled Convertible Senior Notes. This move is expected to yield Zillow 3.1 million shares of its Class C capital stock and $38.2 million in cash, thereby reducing the number of Class C shares outstanding. Piper Sandler has reiterated its Overweight rating on Zillow, citing significant growth in the company’s Flex revenue, which increased by 44% year-over-year in the second quarter. The firm also raised its price target for Zillow to $94, noting that the company’s revenue and EBITDA exceeded expectations by about 1%. Benchmark maintained its Buy rating and $95 price target on Zillow, emphasizing the company’s renewed focus on new construction. Cantor Fitzgerald also raised its price target to $74, following Zillow’s strong second-quarter performance, which surpassed prior estimates. These developments indicate a positive outlook from analysts, with Zillow’s strategic initiatives and market performance gaining recognition.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.