It’s finally happening. Facebook is making a massive push into real estate by expanding the real estate listings portion of their marketplace. (via HousingWire).
Obviously Facebook’s traffic is incredible. 2 billion actives a month. That dwarfs all other real estate competitors combined (Zillow, Trulia, Realtor, Redfin, Craigslist, etc) by at least 5x and more like 10x.
While for sale listings will remain in slow growth mode, Facebook is sourcing rental listings from Zumper and Apartment List — meaning they are going to have a huge amount of rental inventory extremely quickly (aka out of the gate).
What does this all mean? Will Facebook stick it out alone and compete with Craigslist and Zillow? Will they buy Zumper or Apartment List perhaps? Will they, heaven forbid, become a brokerage?
If Facebook is serious about the real estate vertical, they should buy a portal with existing brand credibility. Rent.com perhaps? Otherwise, they are going to spend years and years attempting to build brand/mindshare related to real estate — and still fail.
How do you see this playing out?