Popular U.S. real estate website Zillow (NASDAQ: ZG) is expanding to offer listings of homes being sold across Canada.
Seattle-based Zillow says it has agreements to list more than 50,000 homes being sold by Canadian brokerages and franchisers, which include Century 21 Canada, Right at Home Realty, Re/Max Ultimate Realty Inc., Exit Realty Corp International, Better Homes and Gardens Real Estate Signature Service, Core Assets Real Estate, and Greater Property Group.
In addition, Realty Executives International, based in Scottsdale, Arizona, will send listings from its Canadian franchises to Zillow's mobile app and website. Users of Zillow will now be able to use the popular U.S. site and mobile app to search for Canadian properties that are for sale. Searches can be conducted using postal codes, city names or by province.
The Canadian listings will display the home's list price, a description of the property and photos.
The Canadian property listings will also include the agent's contact information as well as a link to the brokerage or franchise website.
In a statement, Zillow said that the expansion will bring "global exposure to Canadian homes for sale." Some analysts have warned that the expansion could also increase speculative real estate buying by foreign investors in Canada’s largest markets such as Vancouver and Toronto – something that provincial governments have sought to curb in recent months.
