In the future, California homebuyers may find it easier to locate the home of their dreams using their smartphone. This is because a merger of the two largest online real estate websites is expected to create new synergies. Zillow recently announced that it will acquire its biggest rival, Trulia, for approximately $3.5 billion, making it the largest player in its field. The combined company plans to be the leader in helping homebuyers locate desired property using their smartphones and tablets.
Zillow and Trulia, each founded about a decade ago, are first and second, respectively, in the online real estate market. Together, they have changed the way many homebuyers locate property, moving them away from traditional real estate agents to searching online for homes using any number of search criteria. Over 100 million unique visitors access the two sites monthly. Zillow is famous for its "Zestimate," an estimate of the home's market value derived from public records and user-generated information.