ZILLOW GROUP, INC. (Z)

Zillow Group operates the most visited real estate app and website in the United States, connecting consumers with agents, loan officers, and digital tools across the entire housing journey: dreaming, shopping, renting, buying, selling and financing. Its core asset is a living database of approximately 173 million U.S. homes, which underpins the Zestimate, its patented automated valuation model (2025 median error rate of 1.8% for listed homes and 7.2% for off-market homes), along with Rent Zestimate and other housing indices. The company describes itself as a diversified, transaction-focused platform with an integrated-transaction strategy, and also builds a two-sided rentals marketplace.

Its offerings fall into several areas. For buyers and sellers, it provides home search on its apps and websites, BuyAbility, tours through ShowingTime, Zillow Showcase listings with rich media and 3D tours, connections to agent partners and home builders, and its Enhanced Markets experience, where over 40% of connections exited 2025. For real estate professionals, it offers Premier Agent, including the invite-only, pay-when-you-close Zillow Preferred program, Zillow Pro (an AI-powered membership suite), Follow Up Boss, and Zillow Workspace (ShowingTime, Zillow Showcase and dotloop). For borrowers, Zillow Home Loans originates mortgages, generally selling them on the secondary market, in 49 states and D.C., and a mortgage marketplace connects buyers with partner lenders. For renters and housing providers, Zillow Rentals lets users search, tour, apply, sign leases, pay rent and obtain insurance, while landlords can list, advertise and use leasing and property management services through Zillow Rental Manager. It had 2.4 million average monthly active rental listings in 2025, including 72,000 multifamily properties.

Zillow serves consumers (renters, buyers, sellers and borrowers) and the professionals who work with them, including agents, brokers, mortgage lenders, property managers, landlords and home builders. The Zillow Group portfolio, mainly Zillow, Trulia and StreetEasy, peaked at 259 million monthly unique users in July 2025 and had about 9.6 billion visits for the year, and Zillow Rentals drew about 33 million average monthly unique visitors. The company estimates 80% of U.S. residential transactions involve agents using at least one Zillow product. It sizes its U.S. addressable market at about $202 billion, spanning transaction fees, mortgage origination, title and escrow, rentals advertising and property management software. Revenue is seasonal, with Residential and Rentals typically peaking in the June or September quarters.

Zillow works through partnerships with thousands of agents, brokers, mortgage professionals, property managers, home builders and regional MLSs, plus rental listing syndication agreements with Redfin and Realtor.com and partnerships with AppFolio, Esusu and Elise AI. It competes in a fragmented industry of over 300,000 brokerages, over 70,000 mortgage lenders and more than 500 MLSs, on factors such as experience quality, data accuracy, brand, price and return on investment, and also competes with traditional media and word-of-mouth for partners' marketing budgets. It holds 224 issued patents and 225 pending applications, and had 7,068 employees at December 31, 2025. The text does not state its headquarters location.