Sunnyvale, California — In a attempt to strengthen its home-buying features and lure local advertisers, Sunnyvale Internet giant Yahoo is is announcing an exclusive partnership with real estate listings and search site Zillow, and handle some of the ad sales on its real estate vertical, which regularly ranks among the most trafficked real estate sites on the web.
According to the terms of partnership, which will become effective later this year, promoting an existing deal, Yahoo and Zillow also are coordinating sales efforts so real estate agents and others can purchase ads for both sites. Zillow will power all for-sale listings on Yahoo Real Estate. The financial terms of the deal were not disclosed.
“This new agreement between Zillow and Yahoo Real Estate establishes the opportunity for agents and brokers to cater to one of the largest audiences of home-buyers online when they list a home or purchase an ad,” Spencer Rascoff, Zillow’s chief operating officer, said in a statement provided for release today.
Sold/For Sale signs at houses (Image Credit: AP Images)
During an interview, Yahoo Real Estate Head Steve Schultz described the partnership would let Yahoo focus on selling ads on Yahoo Real Estate to national advertisers. Zillow’s local sales force will sell advertising and maintain liaison with local real estate agents and brokers. “We see it as a revenue generating opportunity,” he said.
Zillow’s will incorporate its 4 million for-sale listings on Yahoo’s real estate site, where users will still be able to search for home listings by the same criterion as on Zillow’s site, such as by geography, price and other criteria. For-sale listings placed on Zillow will automatically appear on Yahoo Real Estate.
Yahoo earlier this year outsourced its personals to Match.com. The company also farmed-out its job listings to Monster, after it sold HotJobs to the job listing service for $225 million.