realestate

Homes.com launches "Boost" feature to enhance online listings

Homes.com offers free premium marketing for off-MLS listings affected by Zillow's ban.

H
omes.com is countering Zillow's ban on publicly marketed but off-MLS properties by offering free premium marketing for affected agents. This move marks a new front in the portal wars, with Homes.com aiming to win over agents and sellers who have been impacted by Zillow's policy.

    In response to Zillow's decision to bar listings that are publicly marketed but withheld from MLS and IDX feeds, Homes.com is providing a free "Boost" feature for agents whose listings were banned. This move is seen as a direct challenge to Zillow's business model, which CoStar CEO Andy Florance has described as "lead diversion."

    Homes.com claims that its Boost feature can increase engagement and listing views by 25%, with boosted listings being 25% more likely to go under contract in under 10 days. The company is also offering a paid Boost feature for agents who are not subscribers, which could result in additional exposure for their listings.

    CoStar has been critical of Zillow's policy, arguing that it is designed to protect the company's profits rather than consumers. In an April letter to agents, Florance called out Zillow for its new listing standards and accused the company of prioritizing its own economic interests over those of agents and sellers.

    The move by Homes.com comes as the company looks to improve its margins and profitability. CoStar has announced a renewed focus on Homes.com's financial performance, with a committee formed to review the company's investment in the portal and ensure it reaches profitability within an appropriate timeframe.

Homes.com introduces 'Boost' feature to enhance online real estate property listings nationwide.