Zillow Group, Inc. (NASDAQ: Z and ZG) on Thursday announced new features created for builders to help better market their communities to home shoppers on Zillow® and Trulia®. Builders who participate in Zillow Group’s Promoted Communities program, the advertising platform for builders on Zillow and Trulia, will now have the ability to display real-time lot availability on search results and maps. In addition, they will have access to Zillow Group’s brand new Builder Insights platform, which is currently in beta.
Lot Availability: With the addition of real-time lot availability to the home search experience on Zillow, builders will be able to showcase the true breadth of their available inventory to home shoppers. It will be clear to home shoppers what lots are available in a community and what the lot’s status is (i.e. not yet built, under construction, move-in ready, sold). Shoppers can get real-time updates of the community activity such as: “only 5 lots are left in this community,” driving more consumer traffic to new construction communities.
Builder Insights platform: Builders who participate in Zillow Group’s Promoted Communities program will now be the first to receive exclusive insights on consumer behavior through the new Zillow Group Builder Insights platform, which can help them better assess local market conditions and determine consumer preferences. Insights are based on proprietary data in three categories – available inventory, consumer search data, and housing economics. This data can help builders make more informed decisions regarding their product positioning, land acquisition and marketing.
