ZILLOW GROUP, INC. (Z)

Zillow Group operates the most visited residential real estate website in the United States, offering mobile applications and websites, including Zillow, Trulia and StreetEasy, that connect renters, buyers, sellers and real estate professionals with digital solutions and a network of partners through what it calls a "housing super app." Its core asset is a living database of approximately 165 million U.S. homes and proprietary content such as the patented Zestimate automated valuation model, which had a 2024 median error rate of 2.0% for homes listed for sale and 7.1% for off-market homes. The company operates as a single reportable segment, and its strategy centers on three areas. In For Sale, it offers an integrated transaction experience in 43 Enhanced Markets, where consumers are supported from touring to closing by Premier Agent partners and Zillow Home Loans loan officers; For Sale revenue comprises the Residential and Mortgages revenue categories, and Zillow Showcase listings are available nationwide.

In Industry Software, it provides tools for real estate professionals, including Follow Up Boss (a customer relationship management system), ShowingTime+, Spruce and the acquired Aryeo, to manage leads, create listings and complete transactions. In its Rentals Marketplace, renters can search listings, tour, apply, sign leases and pay rent, multifamily property managers buy advertising products, and smaller landlords (under 25 units) use Zillow Rental Manager for listings, advertising, leasing and property management services; in 2024 it partnered with Realtor.com to supply multifamily listings. Zillow Home Loans, available in 49 states and the District of Columbia, originates mortgages and generally sells them on the secondary market, while a mortgage marketplace connects borrowers with partner lenders for purchase and refinance loans.

Customers and partners include consumers, Premier Agent partners, brokers, mortgage professionals, property managers, landlords, home builders and regional MLSs. The company estimates its total addressable market at $168 billion, spanning residential transaction fees, mortgage origination, title and escrow, rentals advertising and property management software. It competes in a fragmented market against single-point service providers, relies on patents, trademarks and trade secrets, and had 6,856 employees as of December 31, 2024.