How Does Zillow Make Money?

Zillow makes money by connecting consumers with real estate professionals, housing providers and services that help them get home, while keeping home search free and accessible. Zillow’s mission is to make home a reality for more people. We believe what’s best for buyers, sellers and renters is also what creates value for the real estate professionals who support them.

How does Zillow work?

Consumers can browse listings, research neighborhoods, understand their housing budget, apply for a rental and explore housing options on Zillow at no cost. We develop products and features to empower consumers with information and choice so that people can use Zillow to make informed decisions.

When you use Zillow to search for homes to buy or rent, consider home-selling options, connect with an agent or secure a mortgage, you’re using one side of a two-sided marketplace that brings together:

• Consumers looking to buy, sell, rent or finance a home
• Real estate professionals such as agents, landlords, property managers, builders and mortgage lenders

How does Zillow make money?

Zillow earns money primarily by connecting buyers and sellers with agents and builders, and renters with property managers; providing mortgages through Zillow Home Loans; and building and selling software and tools used by industry professionals that help them provide a seamless consumer experience and scale their businesses more effectively.

Zillow's revenue streams

• Agent advertising: Real estate agents choose to advertise on Zillow to meet potential buyers and sellers. Agents pay to connect with buyers who click the "Contact Agent" or "Request a Tour" buttons. Enhanced listing experiences are also paid for by agents to showcase homes with richer detail, photos and interactive elements. 
• Rental advertising: Property management companies pay to advertise or promote their rental listings across the broader Zillow rental network. Renters may pay for services such as Zillow’s $35 universal application or the CreditClimb tool, which allows renters who do not pay rent through Zillow to report on-time rent payments to major credit bureaus for a fee. 
• Providing mortgages: Home buyers have the option to finance their home purchase through Zillow Home Loans. Zillow also operates a Mortgage Marketplace, where third-party lenders pay to advertise their rates and offers.  

Taken together, these areas reflect how Zillow supports consumers at every stage of moving while earning revenue from services that help them get home. It’s an ecosystem that serves everyone, starting from the same place.

Does Zillow make money from home buyers?

Shopping for a home on Zillow is free to everyone. You can search listings and explore neighborhoods without paying Zillow.

Zillow earns money directly from a home buyer only if they choose to finance with Zillow Home Loans. These lender financing fees are standard and always disclosed to a buyer. Getting a pre-approval through Zillow Home Loans is always a free and no-obligation process. 

Agents pay to advertise on Zillow

Zillow makes money as consumers shop for homes primarily through agent advertising. Real estate agents choose to advertise on Zillow so they can meet potential buyers and sellers who are actively shopping. They pay for that advertising to reach new clients in two different ways. 

For example, when you visit a listing on Zillow and connect with a buyer’s agent through the "Contact Agent" or "Request a Tour" buttons, that agent has paid Zillow to appear in front of home shoppers like you. This is similar to online advertising you see on other sites. Some agents pay upfront for advertising in specific markets or ZIP codes, while others participate in success-based programs where they only pay Zillow after they help a buyer successfully close a transaction. This marketing expense for agents does not get passed through to the consumer. It is an exchange between the agent and Zillow directly. Learn more about working with an agent you find on Zillow.

Agent advertising was one of the earliest ways Zillow made money. Over time, Zillow has expanded beyond this model to support consumers across the entire moving journey.

Home financing

When buyers are ready to finance a home, Zillow offers solutions to help them compare options and move forward with confidence.

Zillow earns mortgage revenue in two primary ways. The first way is through its affiliate mortgage company, Zillow Home Loans, where consumers have the option of working directly with in-house loan officers. If a consumer chooses to finance through Zillow Home Loans, Zillow earns revenue when a purchase or refinance loan successfully closes.

Lender advertising

Zillow also operates a Mortgage Marketplace, where third-party lenders advertise rates and offers. Zillow connects consumers with lenders that offer products that meet their needs, and lenders pay Zillow for advertising. 

This gives consumers flexibility to explore financing options while allowing Zillow to earn revenue when a consumer elects to connect with a participating lender. Lenders compensate Zillow for advertising and lead generation. Each buyer has individualized needs and our goal is always to serve up options so the buyer can select what works best for their needs – whether that’s through our in-house mortgage company, Zillow Home Loans, through one of our mortgage marketplace partners or a lender outside our ecosystem.

Does Zillow make money from home sellers?

Listing a home on Zillow is free, whether a home seller is working with a real estate agent or listing their home as for sale by owner (FSBO). 

You may notice enhanced listing experiences on Zillow. These features are paid for by agents as marketing tools to showcase homes with richer detail, photos and interactive elements, helping shoppers get a deeper sense of a property before scheduling a tour.

Does Zillow make money from renters? 

Zillow earns rental revenue from property management companies that pay to advertise their rental listings across the broader Zillow rental network, placing listings where renters are already searching. Searching for and connecting with available rental listings is always free on Zillow. Renters may choose to pay for optional tools like credit-building services or universal application fees.

Listing fees from property managers

When you see an available multifamily apartment on Zillow, the landlord or property manager has often paid to list it on Zillow, and sometimes paid to promote that listing so it reaches more renters. Zillow Rentals has 2.5 million average monthly active rental listings, giving you options whether you’re searching for an apartment or a single-family home.

In some cases, Zillow also earns revenue through Pay-Per-Lease, a success-based model where Zillow is paid when a renter signs a lease with a participating rental partner.

Renter tools

Zillow also offers optional tools renters may choose to use. One is Zillow’s $35 universal application that allows renters to apply to an unlimited number of participating rentals in our network for one month. Another tool is CreditClimb, which allows renters who do not pay rent through Zillow to report on-time rent payments to major credit bureaus for a fee. Renters’ insurance is also available to purchase through our platform.

To improve the rental experience, Zillow enhances listings with AI-powered renter engagement tools that help property managers respond to inquiries and schedule tours more efficiently. While these tools are not standalone paid products for renters, they support better outcomes across the rental marketplace.

Zillow makes searching for homes free and accessible for all consumers

Across home shopping, rentals and mortgages, Zillow’s business model puts consumers first. By keeping search free and accessible, Zillow helps people explore their options with confidence.

Together, these revenue streams allow Zillow to monetize professional services while keeping your home search free and accessible and continue investing in better tools to help more people get home.

Frequently asked questions

How does Zillow make money if listings are free?

What happens if I contact an agent on Zillow?

Does Zillow make money from renters?

Does Zillow make money from home buyers directly?

Why doesn't Zillow charge consumers to search?