Real estate listing company Zillow plans to announce Wednesday that it has acquired Buyfolio, a NYC-based company that allows prospective home buyers and brokers to communicate and organize their real estate searches.
This is the fourth acquisition for Zillow, a real estate listing site that boasts over 110 million postings of homes for sale, for rent, and those not currently on the market, and connects potential home buyers and renters with potential lenders on the Zillow Mortgage Marketplace. The company switched out CEOs in 2010, moving current CEO Spencer Rascoff into the spot, and went public in July 2011.
Buyfolio allows homeowners to create a database of potential listings of interest and then share those listings with a broker or between spouses, who can add notes to the listings and update with information. Buyfolio also provides listings and information on the NYC housing market, which can be added to a user’s database. The company has versions available for the Apple iPhone and iPad, as well as Android, and has a suite of products intended for real estate brokers as well.
Zillow said it plans to offer Buyfolio’s online and mobile products, and in September, Rascoff spoke at GigaOM’s Mobilize conference on his company’s success at monetizing on mobile, nothing the 14 different apps they had available.
Earlier this month, the company’s stock took a tumble after disclosures of communication between Rascoff and the Securities and Exchange Commission that questioned how the company was reporting its sales, although analysts said the communication wasn’t necessarily cause for concern, CNN Money reported.