Zillow Group has announced the debut of RealEstate.com, a new consumer real estate brand designed on first-time homebuyers, with a particular focus on Millennials.
According to the company, RealEstate.com users can search for homes by the monthly payment and down payment they can afford. RealEstate.com calculates an "All-In Monthly Price" for every home and breaks out estimated expenses that would go into a monthly payment, including principal and interest, property taxes, homeowner's insurance, HOA fees and utilities, and closing costs. Online searches can be conducted in English, Spanish or Chinese.
Buyers using the new site will be able to connect with real estate agents directly from the listing details page on the site. The listings will come from multiple listing services, real estate brokerages and franchisors, and agents will receive the same listing treatment they currently have on Zillow and Trulia.
"RealEstate.com is designed to equip the next generation of homebuyers to find a home that suits their needs and budget," said Jeremy Wacksman, CMO at Zillow Group. "We know from our research that affordability is a huge driver for homebuyers, and that first-time buyers are more likely to go over budget. By tailoring the home search experience on RealEstate.com around a home's monthly cost, we hope to make the homebuying experience less daunting and even more transparent for first-time buyers."