Zillow first announced its intentions to host Canadian listings in June last year. This week, it shared the results of its northward push, which also included:
- 250 partner real estate brokerages and franchisers;
- more than 4,500 Canadian agents with profiles on Zillow.com;
- more than 3,000 reviews of agents by consumers; and
- a 32 percent year-to-date growth of monthly Canadian unique users.
Zillow brought price transparency to the U.S. homes market by launching Zestimate back in 2006. It was stymied from doing the same thing in Canada due to resistance from real estate incumbents. A ruling by Canada’s Supreme Court in August last year, however, effectively broke the Toronto Real Estate Board’s monopoly on local real estate sale price information. That was a signal to multiple listings services that transparency had become the standard nationwide.
The decision has led to a shake-up of the Canadian real estate industry. Redfin launched in Canada in February and HonestDoor, a grassroots with a mission of sale-price transparency, opened in May in Edmonton, Alberta.
Many agents clearly see Zillow, with its audience of 195 million unique monthly users, as a necessary partner.
“We pride ourselves at being at the cutting edge of real estate,” said Jamie Johnston, Broker of Record and Owner, RE/MAX Condo Plus. “We think our association with Zillow is another opportunity for our agents to demonstrate their value to the public.”