Realtor.com is investing in Own Up—a lender matching service that lets homebuyers compare mortgage offers—and is integrating the service into its portal.
The partnership was announced at the same time as a €25m funding round led by Brand Foundry Ventures. The company will use the funds to further build out its technological capabilities, expand its offering and invest in people.
Bryan Charap, CFO at Realtor.com, said:
"This relationship is a natural fit. Own Up’s team brings deep mortgage expertise to the Realtor.com online experience, and together we’re able to expand upon our shared goal of helping Americans find and close on their dream homes."
Patrick Boyaggi, co-founder at Own Up, said:
"Realtor.com plays an essential role in the home search process for so many Americans and now we’ll be able to provide mortgage education and tools to comparison shop, boosting buyer confidence as they move through the process."
Realtor.com becomes the latest portal to diversify its offering to include mortgages. joining the likes of REA Group and Zoopla to cast its net over a larger proportion of lucrative property transactions, as highlighted in Online Marketplaces' 2022 Adjacencies Report.
Meanwhile, Realtor.com rival Zillow is struggling with its mortgage segment, with industry expert Mike Del Prete suggesting that Zillow Home Loans is "consistently unprofitable", with Zillow spending $1.85 for every $1 of mortgage revenue during the first half of 2022.