US real estate marketplace zillow.com was still busy making changes as 2009 drew to a close, ending the year by launching a distribution deal with online brokerage redfin.com.
The new partnership will allow redfin.com’s visitors to fill out a short loan request form at the bottom of its “financing your home” page. Visitors are then directed to zillow.com’s Mortgage Marketplace where they can complete a loan request form and receive custom quotes from zillow.com’s lenders.
zillow.com told inman.com the deal involves a revenue sharing agreement with redfin.com, but said the terms of this agreement have not been finalised.
In November, zillow.com changed the pricing model in its Mortgage Marketplace, introducing “market-based pricing” for customer-initiated contacts. As a result, lenders can submit unlimited loan quotes for free but have to pay a fee when borrowers email or call them regarding their quotes.
2009 was a big year for zillow.com, with the release of a record-breaking iPhone application along with numerous upgrades and partnerships.