Webware‘s Rafe Needlemen interviews Zillow CEO Rich Barton and confirms much of the excitement around Zillow is “real estate porn”–that is looking at the properties and thinking about purchases. (For those who don’t hear the term used in non-adult contexts,I hear about bike porn quite a bit,looking at pictures of bikes one will never ride…) Still,the bottom line is being supported by ads –geotargeted ads.
But listing homes in foreclosure on Zillow is a growth business. “They advertise!”Barton says.
So he’s selling his advertisements,including new geographically targeted home sale listings on the site’s front page as well as featured homes on the maps. He’s also got bank ads on the mortgage part of the site. “Those are $4 clicks,”he says.