StreetEasy, New York City’s leading real estate marketplace, announced Thursday that its operating company, Zillow Group has acquired East End property search portal Hamptons Real Estate Online (HREO.com).
Zillow bought StreetEasy—a NYC-centric real estate portal, including website and app, launched in 2006—for $50 million in 2013. The company also purchased Trulia, its biggest competitor, for $2.5 billion in stock in 2015.
The company has not released the terms of the HREO acquisition, which also includes RealNet and Open RealNet Exchange (OREX), HREO’s listing entry and distribution software that offers real estate pros various tools to manage and market their listings.
“HREO and StreetEasy are leaders and experts in two real estate markets that are not only critically important on their own, but are also intrinsically linked to one another: the Hamptons and NYC. It’s a natural pairing,” StreetEasy general manager Susan Daimler explains in the announcement. “We’re excited to bring our resources and focus to another unique market that also has a large shared audience among the buyers, renters and real estate professionals in NYC and to work closely with our industry partners to develop even better tools and experiences.”
According to StreetEasy, this acquisition will provide HREO.com, RealNet and OREX with more support and resources to “fuel improvement across all platforms and provide better experiences for Hamptons buyers, renters and real estate professionals.”
Founded in 1995, HREO provides buyers and renters with a specialized search experience and access to the East End’s most comprehensive for-sale, for-rent and vacant land listings. Buyers and renters can quickly filter to find listings that fit their exact criteria and connect to real estate professionals who can help answer questions. HREO.com will now be a unique complement to StreetEasy and Zillow Group’s other NYC-focused brand, Naked Apartments.