Zillow Group acquires VRX Media to create national photographer network, elevate listing media through ShowingTime+ brand
Zillow Group (NASDAQ: Z, ZG) has successfully acquired VRX Media, a leader in real estate media services recognized for its aerial photography, virtual staging, and 3D tours. This acquisition aims to enhance the ShowingTime+ software suite by integrating VRX's offerings, ultimately creating immersive listing experiences. Zillow anticipates that 2023 will see the launch of two new products, Listing Media Services and Listing Showcase, aimed at improving agents' marketing capabilities. The deal aligns with Zillow's goal of elevating real estate listings through innovative interactive media.
- Acquisition of VRX Media enhances ShowingTime+ service offerings.
- Introduction of new products, Listing Media Services and Listing Showcase, expected in 2023.
- Strengthening of market position through immersive customer experiences and technology integration.
- None.
VRX's real estate media services provide convenient, fast delivery to customers
SEATTLE, Dec. 8, 2022 /PRNewswire/ -- Zillow Group (NASDAQ: Z and ZG) today announced it has closed on the acquisition of VRX Media. This real estate media marketing and services leader is known for its aerial drone photography, virtual staging, 3D tours, high-definition photography and fast-media delivery to clients, which is made possible through the company's national professional photographer network. Zillow Group will continue to offer VRX Media's services through the ShowingTime+ software suite.
This acquisition will help fulfill ShowingTime+'s vision of offering elevated listing products and experiences to help agents differentiate their listings and provide better shopping and selling experiences to their clients. Through ShowingTime+ products, Zillow's aim is to set a higher standard in the industry by bringing new kinds of rich interactive media to more listings.
"Listing media is a crucial part of selling a home, and we are focused on creating an immersive customer experience that makes listings stand out," said Jun Choo, senior vice president of ShowingTime+. "With VRX Media, ShowingTime+ will give agents elevated listing products unlike anything available today and will transform the way they prepare and market their for-sale listings."
Seventy percent of sellers say they are more likely to hire an agent who includes virtual tours and/or interactive floor plans in their services, and
VRX's media services and capabilities will enable ShowingTime+ to provide two new products, Listing Media Services and Listing Showcase, which will be released in 2023. Listing Media Services and Listing Showcase are premium marketing products for listing agents that bring together photography services with high-quality listing media to create beautiful, interactive listings.
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting, or financing with transparency and ease.
Zillow Group's affiliates and subsidiaries include Zillow®; Zillow Premier Agent®; Zillow Home Loans™; Zillow Closing Services™; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+™, which houses ShowingTime®, Bridge Interactive®, and dotloop® and interactive floor plans. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).
ShowingTime+™ is modernizing real estate for the benefit of all agents, brokers and multiple listing services (MLSs). A brand of Zillow Group, Inc., ShowingTime+ provides products and services to help real estate professionals streamline their businesses and deliver elevated experiences to their customers.
The ShowingTime+ technology suite includes ShowingTime®, dotloop®, Bridge Interactive®, and 3D Home tours and interactive floor plans. ShowingTime+ products are used by hundreds of MLSs representing more than 1 million real estate professionals across the U.S. and Canada. For more information about ShowingTime+, visit https://showingtimeplus.com/.
VRX Media is a real estate marketing company and media services provider offering aerial drone photography, high-definition photography, virtual staging and 3D tours nationwide. Founded in 2015 by three real estate professionals with more than 30 years of combined industry experience, VRX Media provides media materials that help sell homes. In 2020, VRX Media was named one of America's Fastest Growing Companies by Inc.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding the acquisition of VRX Media and operational plans for 2023 and beyond. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "will," "projections," "continue," "business outlook," "forecast," "estimate," "outlook," "guidance," or similar expressions constitute forward-looking statements. Differences in Zillow Group's actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group's control. For more information about potential factors that could affect Zillow Group's business and financial results, please review the "Risk Factors" described in Zillow Group's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC and in Zillow Group's other filings with the SEC. Except as may be required by law, Zillow Group does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
ZFIN
1 The Zillow Consumer Housing Trends Report 2022 is compiled by Zillow Research. To read the full report or find more information, visit: zillow.com/research
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SOURCE Zillow Group
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