Source: Yahoo —
In an effort to boost its revenue, real estate listings giant Zillow Group Inc. started a home-flipping business that it believed would create an alternative revenue stream to just marketing properties online.
That strategy didn’t last long after Zillow lost a ton of advertising revenue from agents and agencies who saw it as a competitor.
Amid a slumping market, real estate agencies are expanding beyond their purview to find alternative revenue streams as rising interest rates result in plummeting home sales.
For example, agency franchise giant Keller Wiliams Realty is training some of its 190,000 agents in 1,100 offices around the world to provide real estate planning and wealth management services to their customers.