Zillow is increasingly at the center of the lives of homebuyers, homesellers and real estate professionals. Here’s what changed in 2025, and how it paid off for the company.
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Zillow strengthened its grip on the real estate industry last year as it continued building its brand into a do-it-all suite of consumer-facing listings and agent-centric tools — efforts that helped the company pull in $2.58 billion in revenue.
In an earnings report published Tuesday, the company estimated that agents who use Zillow products touch an estimated 80 percent of residential real estate transactions. Zillow also noted that the company continued to grow at a rate far outpacing the industry at large.
The company brought in $3 million profit in the final quarter of 2025 and $23 million for the whole year, the report also noted. Those profits came from growth across each of the company’s segments.
Zillow’s for-sale revenue grew 11 percent to hit $475 million in the quarter, and $1.7 billion for the year.
Rentals remained the fastest-growing segment of revenue for the company, jumping 45 percent from a year earlier, to $168 million in the quarter. That growth is being fueled largely by multifamily rentals.
Mortgage revenue grew at the second-fastest rate, climbing 39 percent year over year to hit $57 million in the quarter. Loan origination volume was $1.5 billion in the quarter.
Traffic to the portals within Zillow’s suite of sites rose 8 percent in the quarter to 221 million average monthly unique users. Total visits rose 2 percent in the quarter, to 2.1 billion.
The company’s business model relies on offering tools and features such as Follow Up Boss, dotloop, Showcase listings, as well as on collecting fees for deals that originate on Zillow.
Use of Zillow’s Showcase features more than doubled during 2025 and was used on 3.4 percent of new listings in the fourth quarter, Tuesday’s report revealed. Agents who pay for Showcase get access to virtual staging and other features that are intended to boost the listing’s visibility.
Zillow last year began selling membership in Zillow Pro in a kind of testing phase. The memberships include Follow Up Boss, the option to buy Showcase listings on a per-listing basis, and a pathway to becoming a Zillow Preferred agent (rebranded last year from Zillow Flex).
“It is in early testing and beta right now, so not specific markets so much as we’re just rolling it out to a set of partners early on,” Zillow CFO Jeremy Hofmann told Inman in an interview on Tuesday. “We will look to expand it nationwide the second half of the year.”
Hofmann said the company was testing a large language model artificial intelligence feature built into the app that would assist consumers during a home search.
That would follow the company’s partnership last year with Open AI to integrate Zillow home search within ChatGPT.
On a call with investors on Tuesday, CEO Jeremy Wacksman said that the company’s listing policy banning listings if they’ve been publicly marketed off the MLS for more than a day was working and had stifled the proliferation of private listing networks.
“The reason it’s small is the vast majority of sellers and agents don’t want that,” Wacksman said. “Agents don’t want to limit exposure and have a home take longer to sell.”
On Friday, a judge ruled in favor of Zillow in its legal battle with Compass. Compass sued to try and stop Zillow from enforcing its listing policy, which targets Compass’ off-MLS marketing strategy.
Wacksman also suggested that a Super Bowl ad by Rocket was actually beneficial to Zillow.
“As the category leader, with such strong not just brand awareness but brand preference, we tend to benefit when others in the category advertise,” Wacksman said. “We saw that just this weekend.”
Zillow now has $1.3 billion in cash and investments, according to Tuesday’s earnings report.
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