Zillow's new product represents a new business model — from pay-per-lead to pay-per-listing — that mirrors the way profitable international peers monetize their market-leading positions.
While the brokerage's overall head count rose modestly to 144,510 agents in the second quarter, its agent count declined in the U.S. by 6.3 percent, to 56,987, according to a Q2 earnings call Wednesday.