Is There a Site like Zillow for Commercial Real Estate | Zillow Review

Is there a site like Zillow for commercial real estate? The National Association of Realtors published a report in 2020, according to which 51% purchased their home through the internet, 28% approached the realtors, and yard sign was used by only 4%.

Hence, it is revealed that Real estate websites enjoy high traffic from buyers and sellers, as they render facilitative search from the comfort of home. Similarly, buyers can easily preview and readily get the home of their choice, and sellers can get the potential buyers without waiting for long.

Among the real estate websites in the USA, Zillow is the leading one. According to a digital survey in October 2021, it received 36 million monthly visitors. Similar websites like Trulia come second with 23 million monthly visits, and Yahoo homes come third with 20 million visits per month.

When it comes to buying or selling a home, Zillow is considered a top-ranked and trusted website. Two Microsoft executives founded it back in 2006. The functional tools, flexibility, and power make it well suited for sellers, buyers, landlords, agents, renters, and other professionals.

Is Zillow a Commercial Real Estate Site?

Zillow is one of the best among residential real estate sites but not the commercial ones. But Zillow has established a thorough recognition among its competitors. However, there are numerous commercial real estate websites mainly used by commercial real estate brokers, some of them are regional, and some are nationally based. Some need a paid subscription, while others render subscriptions for free for licensed realtors.

The major challenge within the commercial real estate market is that almost all the commercial brokers are reluctant to share their listings with the public on open platforms; rather, they advertise their listings independently. 

Since Zillow is a residential real estate that only serves in selling and purchasing houses, however, the commercial real estate websites are in abundance. We are going to mention a few names for your ease.

Zillow Alternatives

LoopNet

They are the owners of the largest data in the industry, with the availability of almost 500,000 listings, with 5 million monthly visitors. Their listings include commercial properties like office spaces, residential properties for lease, agricultural land, hotels or motels, industrial locations, and multi-apartment buildings. 

CREXi

This real estate marketplace has the privilege of carrying almost 130,000 listings of commercial properties for sale. It has specified transaction tools, which manage the entire mechanism from listing to closing.

Catylist/Commercial Exchange

They serve companies and individuals searching for industrial, office, multifamily, retail, land, hotel, etc. They offer free membership, which allows free list searching but with the paid amount, they provide additional facilities in the form of Catylist CLS, pro tools, Research, SiteLink, plan Email, and EDCLink 

With the help of these tools, you can gather leads, easily run marketing campaigns, create reports, and so on. Commercial Exchange is the name of the national marketplace listing of Catylist.

What are the Pros of Zillow?

Over 130 million residential properties appear to be on the database in the industry.

• It has a thorough criteria sorting mechanism.
• It has the linking facility to hold prequalified financing.
• Provides extensive guidance related to purchasing and selling houses.
• It offers mobile apps; thus, you can get into your desire anywhere easily.
• Zillow apps are among the most downloaded in Google Playstore for Android and Apple stores. More than 10 million downloads have been estimated overall rating of 4.7 out of 5 stars on Play and 4.8 on Apple.
• You can easily search for your dream home and apartment. You can list yours with the help of a tour of the property through videos and pictures. You can readily get connected with agents, can save your searches for future use, and can receive updates on your search.
• The Non- Multiple listing service of Zillow provides a facility for selling by the owner, auctions, and foreclosures sources. 
• Zillow costs nothing to buyers and sellers but makes money from lenders and agents through advertising fees. It is the major source of driving potential leads to the agents.

What are the Cons of Zillow?

• The propriety algorithm Estimates do not offer much but act as an informative database.
• The filling of onsite forms for leads is not free of cost. If you are not interested in engagement with agents, then don’t fill out any such form.

Zillow Competitors

Since real estate is a highly competitive market thus, Zillow faces competition from realtors, Redfin, and HotPads. According to the Customer Net Promoter Score, Zillow ranks number 1 comparably to its competitors. Below is the latest CEO Ranking of Zillow and its 

• CEO Rank

3rd

• eNPS Rank

3rd

• Gender Rank

Number 3

• Diversity Rank

3rd

• Product Quality

2nd

• NPS Rank

1st

• Pricing Rank

1st

• Customer Service

Frequently Asked Questions

Which one is better Real estate.com or Zillow?

Both are real estate websites dealing with residential properties. You can check both before making any purchase or finalizing a selling deal. You will not only find the item of your interest but can also get an idea about the latest market rates since Zillow has high traffic, so most sellers prefer it. However, there appear to be some claims about the outdated listings on the Zillow website.

Why does Zillow have an API, but RedFin has not? 

It’s the base on which the company works. Since data on the Zillow website is freely available to any visitor who like it with their API used as a marketing tool, its brands with Zillow wherever it is used or anyone uses it, it ultimately increases the organic reach of the Zillow site, their advertising potential, Web SEO, and grab potential customers who pay as leads. Although Zillow is free, it makes money out of it.

What is the source of Zillow data?

Mostly, Zillow receives data required to run its numerous calculations, such as Estimates, mainly from third-party sources, which the company does not disclose based on their work mechanism. We can guess that they collect data from the open data portals of various cities in the US.

Zillow can use this data to get the price history, demographics, comps, etc. They might also use other locations like Google Place, onboard informatics’ data.gov, and many more Informatics, and many others.

Is Zillow the appropriate place to search for homes?

Zillow being a high organic website receives visitors of millions every month. It has listings from numerous sources which might suit your interests, and your search would end up through getting your dream home. It has updated listings with competitive prices of your desired place.

Can I get scammed on Zillow?

Scamming is a bitter reality of the digital world since Zillow is an online platform for listing residential properties with comparative safe mechanisms. But you need to be careful while sharing your personal information, financial information, or making any kind of payment.

References

• https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics
• https://www.nar.realtor/sites/default/files/documents/2020-generational-trends-report-03-05-2020.pdf
• https://www.gaar.com/images/uploads/2020_NAR_Consumer_Profile.pdf
• https://datareportal.com/reports/digital-2021-global-overview-report
• https://datareportal.com/reports/digital-2021-october-global-statshot