September 30, 2021
Chris Gough, Rushi Bhanderi, Cooper Byrne, Daniel Liu, Alexander Kirschenbauer
GCA advises ShowingTime on its USD 500m sale to Zillow Group
GCA has advised ShowingTime, the industry leader in home touring technology, on its sale to Zillow Group.
ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, while its MarketStats division provides interactive tools and easy-to-read market reports for MLSs (multiple listing services), associations, brokers, agents and other real estate companies, as well as recruiting tools for brokers. ShowingTime products are used in 370 MLSs representing nearly one million agents across the U.S. and Canada.
ShowingTime coordinates schedules behind the scenes so that agents can seamlessly book a confirmed home showing online and focus on their clients, not coordinating a complicated process. In 2020, the company facilitated more than 50 million showings industry-wide.
“We have been impressed with ShowingTime’s ability to simplify a cumbersome but critical part of the home shopping experience by integrating with MLSs, agents and brokers, and giving buyers’ agents an easier way to schedule showings with listing agents,” said Errol Samuelson, Chief Industry Development Officer at Zillow Group. “ShowingTime will remain an open platform available to all industry participants, and we expect to grow ShowingTime’s engagement through all channels to ensure touring is easier for the industry and consumers.”
The acquisition will accelerate adoption of ShowingTime’s technology as home shoppers and sellers, agents and industry partners move toward a more efficient, digital future.
The transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act.
The transaction reflects GCA’s continued leadership in the PropTech Market.