Zillow Acquires ShowingTime For $500 Million

Zillow is going all-in on home tours after acquiring ShowingTime, an online scheduling platform for home showings, for $500 million. According to Zillow, ShowingTime's technology has streamlined and dramatically improved the showing experience.

"We have been impressed with ShowingTime's ability to simplify a cumbersome but critical part of the home shopping experience by integrating with MLSs, agents and brokers, and giving buyers' agents an easier way to schedule showings with listing agents," said Errol Samuelson, chief industry development officer at Zillow Group. "ShowingTime will remain an open platform available to all industry participants, and we expect to grow ShowingTime's engagement through all channels to ensure touring is easier for the industry and consumers."

ShowingTime's network includes nearly one million agents across North America and developed relationships with hundreds of Multiple Listing Services, according to a press release. The company coordinates schedules behind the scenes so that agents can book a confirmed home showing online, giving more focus to their clients. The company reportedly facilitated more than 50 million showings industry-wide.

"This is a pivotal moment in real estate, and customer expectations for a simplified, tech-enabled experience are rising," said Mike Lane, president of ShowingTime.

Click here to learn more about Zillow's acquisition of ShowingTime.