The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental specialist Zumper.
The deal will see more than 500,000 Zumper rental listings appear on OJO Labs' flagship portal Movoto. According to a press release sent by OJO Labs, the deal will allow Movoto to serve house hunters at every stage of their journey, with the company noting that affordability issues continue to push ownership out of reach for increasing numbers of Americans.
While Zumper is the largest privately owned rental portal in the United States, Movoto - which was acquired by OJO Labs in June 2020 - operates both a sales and a rentals vertical and competes directly with the likes of Zillow, Realtor.com and CoStar.
Speaking about the listings syndication partnership, CEO and founder of OJO Labs John Berkowitz said:
“At OJO Labs, we recognize that everyone’s real estate journey looks different, and believe that people should be treated as individuals"
“That’s why we only work with trusted partners who share our goal to surface the best possible options for consumers today.”
“Our Ojo Select Network and mortgage partners are perfect examples of this, and Zumper is no different. We’re thrilled to partner with them to deliver high-quality listings for all — regardless of where they are in their journey — and help them find the best home for their specific needs and lifestyle.”
Zumper stands to benefit from the agreement by exposing their listings to Movoto's audience (over 22 million monthly visits according to Similarweb) according to Zumper's Chief Commercial Officer Natalie Cariola:
“Whether moving across the country or across the street, Zumper creates opportunities for everyone to make a fresh start. Adding Movoto by OJO’s audience to our network substantially increases the reach for listing partners, while also helping prospective renters access a search experience that is easier, faster, and more human.”
Listing syndication deals between portals that do not directly compete with one another are common practice in the industry. In February, the Australian challenger portal Homely signed a listings syndication deal with regional player REIWA and just last week REA India portal Housing.com tied up a deal with newly launched FSBO app MyGate Homes.