Zillow buys the MLS of the Hamptons

HREO will be the yin to StreetEasy's yang, says Susan Daimler

TRD New York /
Jan.January 13, 2017 02:50 PM

HREO interface

New York City isn’t enough for Zillow — it’s taking on the Hamptons too. Under its StreetEasy subsidiary, the real estate database company acquired prominent Long Island real estate portal Hamptons Real Estate Online, or HREO.

Terms of the deal were not disclosed, according to Investopedia.

As part of the acquisition, Zillow will also own software that HREO offers to real estate professionals for listing management and distribution, called RealNet and Open RealNet Exchange.

HREO and StreetEasy are “intrinsically linked to one another,” StreetEasy general manager Susan Daimler said in a statement. “[T]he Hamptons and NYC. It’s a natural pairing.”

Seattle-based Zillow acquired StreetEasy for $50 million in 2013, and bought out its closest competitor, Trulia.com, for $2.5 billion in 2015, after which its revenue rose by over 300 percent. The company’s stock price jumped 63 percent in the last year, and it turned a profit by the third quarter of 2016.

Zillow coughed up $130 million in June to settle a lawsuit with Move Inc. and the National Association of Realtors, which sued the former over alleged theft of trade secrets after it poached two Move execs in 2014. [Investopedia] — Cathaleen Chen


Related Articles

arrow_forward_ios
Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over

Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over

Placeholder image

Zillow to pay $50M for StreetEasy

REBNY pivots on politics; Newark sues NYC for sending homeless

REBNY pivots on politics; Newark sues NYC for sending homeless

Clockwise from top left: Andrew Saunders of Saunders & Associates, Cia Comnas of Brown Harris Stevens, Nanette Hansen of Sothebys, Ernie Cervi of Corcoran, Marty Gleason of Corcoran, Ed Reale of Sothebys, Robert Nelson of Brown Harris Stevens and Theresa Quigley of Saunders & Associates

Take that, Zillow: Hamptons firms’ listings site goes live this week

Zillow CEO Rich Barton (Credit: JD Lasica via Flickr, iStock)

Trulia hit with lawsuit over Premier Agent

From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran) 

Agents to StreetEasy: The fee is too damn high

The current fee for rental listings is $4.50 per day. (Credit: iStock)

StreetEasy hikes rental listing fees, forces manual entry

The Daily Digest - Tuesday

Zillow president to step down, Compass buys AI startup

arrow_forward_ios