Why it's a big deal that eXp acquired Zoocasa
There were all sorts of announcements at eXp's annual Shareholders Summit in Orlando last week. This one may have slipped by you but it's a pretty big deal and can have a massive impact on real estate in North America.
What is Zoocasa?
It's the largest home search tool in Canada. It's like Zillow and dominates in Canada.
"Their experienced leadership team, technology and well-known Canadian brand will position us to create a unique portal experience, with a goal of taking home search and lead generation to the next level across North America.”
- Glenn Sanford, eXp founder & CEO eXp World Holdings
What about Zillow?
Well this means that eXp will own our own search portal & positions us to compete with redfin, realtor.com, zillow. That's a pretty big deal. eXp has a history of innovation (and zero debt, btw) and this acquisition creates a great massive opportunity.
The acquisition is expected to close July 1. You can read more about it here in the press release. Watching this one closely, stay tuned.