Citigroup (C), Zillow (Z) Enter Digital Marketing Agreement
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Citigroup (NYSE: C) announced it has entered into a digital marketing alliance with the online real estate marketplace Zillow (Nasdaq: Z). The integrated offering is dedicated to reaching home buyers and those in need of mortgage financing, in priority cities for Citi’s U.S. consumer business. Under the agreement, Citi has an increased presence on Zillow, Zillow Mortgages and StreetEasy®, New York City’s go-to real estate app and website owned by Zillow.
Citi has increased its advertising program for mortgages on StreetEasy, including multiple ad placements, sponsorship of content, and visibility for approved pre-certified buildings. In addition, the Citi brand will be amplified, in terms of advertising, on Zillow’s desktop and mobile experiences.
Citi’s special mortgage features such as an on-time closing guarantee and relationship pricing will be available through the online sites, as well as expanded consumer support services with Citi representatives.
“Today, the vast majority of potential homebuyers begin their property searches online,” said CD Davies, Head of Citi’s Mortgage business globally. “We are stepping up our digital presence in the real estate space to ensure we are a leading mortgage provider in the markets we serve. Zillow offers us the opportunity to reach homebuyers and engage the real estate community in an easily accessible and productive way.”
“With more than 26 million loan requests submitted on Zillow Mortgages over the past year, mortgage shoppers clearly look to Zillow and StreetEasy for guidance with mortgage shopping,” said Erin Lantz, Zillow VP of mortgages. “The increased presence of Citi on Zillow and StreetEasy will help ensure home shoppers have more options in home financing.”
Zillow attracted nearly 90 million unique visitors in the peak home shopping month of 2014. Zillow and StreetEasy are fully functional across all major platforms including Android™ and OS.
As of September 30, 2014, Citi’s North America consumer mortgage lending portfolio was $101 billion. The company is also a third-party servicer for an additional $229 billion in mortgages.
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