Facebook Marketplace adds real estate rentals
09 Nov 2017
Real estate rentals are coming to Facebook Marketplace via deals with Zumper and ApartmentList.
Zumper issued a news release on what the partnership will mean for its customers.
For renters, all of the million U.S. rental properties on Zumper’s sister platform PadMapper will now be accessible on Facebook Marketplace. Landlords and property managers will use Zumper’s Pro tool to automatically syndicate listings to Marketplace. Zumper said that listings will be updated in real-time and will include properties from both individual landlords and larger multi-family clients.
Zumper on Marketplace will allow users to view details such as price, square footage and pet restrictions, and to send a message to set up a tour or start an application. Marketplace users who choose to leave Facebook and use Zumper’s own website will get other goodies like customizable alerts and the Zumper Select white glove service.
We reported in August that Facebook was planning to open up Marketplace to real estate listings. Now the company has made good on that promise.
Despite the familiar “Z,” Zumper is not on the size or scale of Zillow. Still, the company has raised nearly $40 million in venture capital funding from investors including Kleiner Perkins Caufield & Byers, Goodwater Capital, Andreessen Horowitz, Greylock and others. The company acquired PadMapper in 2016. Zumper employs 100 in its San Francisco headquarters. The company says it had 26 million users in 2016.
ApartmentList is also a slightly off-the-beaten-track choice for Facebook, but no slouch when it comes to buzz and money. The company raised $30 million from Canaan Partners last November and another $30 million before that. It acquired reviews site RentAdvisor in 2013. ApartmentList doesn’t charge landlords to post. Instead, it takes a cut of successful transactions.
Times are booming for rentals with more people than ever opting not to buy a home. More than 110 million Americans now rent their homes – the highest percentage in more than 50 years.
“Zumper has spent the past five years building the most comprehensive rental marketplace in the U.S., and Facebook has long been home to families and friends sharing news, photos and memories,” said Anthemos Georgiades, CEO and co-founder of Zumper. “So, it’s only natural that Facebook, in collaboration with Zumper, will now also help people find their physical homes through Facebook Marketplace.”