Google Tested Real Estate Listings in Search and Why Zillow Stock Dropped
Google Showing Homes for Sale in Search
Over the past few days, Zillow’s stock dropped sharply after reports surfaced that Google was testing real estate listings directly inside Google search.
Wall Street reacted.
Agents got confused.
And a lot of people tried to find the test themselves and couldn’t.
Here’s what most people don’t realize.
This Google real estate listings test was visible weeks before it hit the mainstream news cycle.
This post breaks down what Google tested, why Zillow stock dropped, why you can’t see the test right now, and what it signals for the future of real estate search.
I’ve also included screenshots and a quick video showing the actual test while it was live.
What Google Was Testing With Real Estate Listings in Search
Google quietly began testing native real estate listing cards directly inside search results in a small number of markets.
Users searching top-of-funnel keywords like:
“Homes for sale in Miami“
“Homes for sale in Austin“
“Homes for sale in Chicago“
…were shown search results that included actual MLS listing data, complete with photos of homes for sale.
In some cases, surrounding cities were also included. Below is my Facebook example from Lake Zurich.
Searchers could contact an agent directly via click to call or schedule a tour.
The Google real estate listing results cards displayed:
- Property photos
- Price
- Beds / baths
- Location and map context
The experience looked similar to other Google verticals:
- Google Local Service Ads
- Google Flights
- Google Hotels
- Google Shopping
This was not a traditional organic SERP.
And it wasn’t a traditional PPC ad either.
Why This Google Real Estate Test Mattered
This test showed how easily Google could reduce the need for users to click through to real estate portals like Zillow or Realtor just to view homes for sale listings.
That one change impacts the entire real estate lead generation ecosystem.
Including real estate agents, teams and brokerages.
Google Real Estate Listings Test: First Seen in October
As the founder of CallAction, I pay close attention to Google search results and ad units because they directly affect how agents we serve generate leads.
I first posted about this on October 27, 2025 with screenshots on Facebook and LinkedIn.
I also tagged a few well-known SEO professionals, including Neil Patel, to see if anyone had insight into what Google was doing.
At the time, it didn’t get much attention.
That’s normal.
Google runs small UI and A/B tests constantly. Many are limited by:
- Geography
- Device type
- User cohorts
Most come and go quietly because they are hard to replicate.
Why Google’s Real Estate Listings Test Suddenly Made Headlines
Nearly 40 days later, on Friday, December 12, the same test resurfaced when influential blogger Mike DelPrete shared a post with similar screenshots of Google displaying live real estate listings.
Now the Google’s real estate test covered more areas and was easier to replicate results.
From there, it spread fast.
- SEO circles.
- Tech media.
- Financial news.
That changed the narrative.
What was once an interesting Google UI test suddenly became a platform risk conversation, especially for companies like Zillow that rely heavily on search-driven demand.
Wall Street noticed.
Why Zillow Stock Dropped After Google’s Real Estate Test
Zillow’s core business depends on top-of-funnel visibility.
Organic search.
Paid search.
Discovery.
Yes, Zillow’s mobile app drives a large portion of its reported ~280 million monthly visitors. But Google still controls how most consumers start their real estate search.
As Neil Patel has said many times, search, social, and AI platforms are all moving in the same direction.
Keep the user on the platform.
The concern isn’t today’s revenue.
It’s future leverage.
If Google keeps users inside search:
Does portal traffic become optional?
Who controls lead flow?
Who owns the consumer relationship?
Even short-term tests like this introduce uncertainty around:
Traffic assumptions
Long-term valuation models
We’ve already seen this with AI search summaries impacting PPC and organic traffic.
That’s why Zillow stock dropped roughly 12% in a single day.
Wall Street reacted to distribution risk. Not earnings.
Why You Can’t Find Google Real Estate Listings Right Now
A lot of real estate agents are searching Google, trying to find the test to see the changes.
Most can’t.
So they assume it was fake or overblown.
That’s not how Google works.
When a test gets too much attention, Google often pulls it back.
That’s likely what happened here.
The test also triggered outreach to ComeHome and House Canary, the company believed to be providing the MLS data.
That opened conversations around MLS usage, IDX rules, and ad compliance.
Top real estate coaches like Tom Ferry, consulting firms, and real estate media outlets like Inman all weighed in.
Important point.
Just because you can’t see it today doesn’t mean it’s gone forever.
Google runs tests constantly. Visibility is often limited by:
- Geography
- Device
- User cohorts
What Google’s Test Signals for the Future of Real Estate Search
Google’s direction is clear.
- Answer the query.
- Reduce friction.
- Create direct consumer to agent conversations.
Real estate search is moving toward:
- Fewer intermediaries
- More in-search and in-platform experiences
This doesn’t eliminate agents or real estate teams.
But it does challenge:
- Portal-dependent lead models
- Rented attention strategies
The agents best positioned are the ones who:
- Build and maintain direct relationships
- Have scalable lead follow-up and nurture systems
- Make it easy for consumers to contact them
Examples Already Happening Right Now
ChatGPT and Zillow integration
Consumers can search Zillow listings directly inside ChatGPT using the Zillow GPT App.
Social platform lead forms
Facebook, Instagram, and TikTok all push native lead forms and click-to-call ads to keep users on the platform.
Zillow Pro
Zillow is launching a new ad product for agents using Follow Up Boss that keeps consumers’ real estate agents visible while they continue searching on the Zillow platform, reducing friction.
Again, the trend is to keep the consumer on the platform and focus on calls with better tools.
Consumer Phone Calls Are Increasing
Recent data from Invoca shows consumers involved in high-value transactions are calling more often.
They’re also requesting more in-person appointments.
Consumers want personalized, professional help from local professionals.
They continue to rely on referrals and reviews to decide who to trust.
That has been demonstrated by NAR HBS data over the years showing how consumers found the agent they used to buy a home.
What Realtors Should Do
Real estate professionals need a strong online presence.
- Reviews.
- Testimonials.
- Less friction when consumers are ready to reach out.
If you have questions, reach out via the chat below and schedule a call with my team.
Video: What the Google Real Estate Listings Test Looked Like
If you didn’t see the test while it was live, I recorded a quick walkthrough showing:
- Screenshots from the Google test
- How real estate listings appeared in search
- Why it matters for agents and teams
Google Real Estate Calls to Action
The primary CTA in the test was click to call, tied to Google Local Service Ads.
Mobile represents roughly 65% of all search.
That makes call capture and response speed critical if this is where Google continues to focus.
Facebook is pushing the same behavior with click-to-call ads.
There was also a Schedule Tour option, similar to Redfin’s or Zillow’s schedule tour flow.
Zillow’s Schedule Tour Advantage
Zillow has a real advantage here.
They own ShowingTime, which is deeply integrated with MLSs and agent workflows.
Zillow’s scheduling experience is smoother for both agents and consumers.
Google’s version simply sends the request to the agent like a traditional online lead.
That means agents still need to reconnect and confirm.
Speed matters.
Follow-up matters.
Google LSA and Lead Distribution
Google already prioritizes Local Service Ads with click-to-call with specific searches like “Best agent in Hermosa Beach”.
Lead distribution favors agents and real estate teams with:
- High call answer rates
- Strong reviews
- Fast response times
If you’re an agent or team, setting up your Google Business Profile and LSA account isn’t optional anymore.
Google local service ad calls must be answered, captured, and automatically logged into your CRM like Follow Up Boss.
Why This Matters Even If Google Never Relaunches This Test
Google doesn’t test features casually.
Tests reveal intent.
Small experiments that work get scaled.
Even if this exact version never returns, the direction is clear.
Search itself is becoming the destination.
The real question isn’t if Google will change real estate search.
It’s how prepared the industry will be when it does.
If you found this useful, connect with me, Jessie Beaudoin on LinkedIn or start a conversation using live chat below.
Frequently Asked Questions
Yes. Google tested native real estate listing cards directly inside Google search results in select markets, displaying MLS-sourced property photos, pricing, beds and baths, and location details, along with click-to-call and schedule-a-tour options that allowed users to contact agents without leaving Google.
No. Google is not trying to replace Zillow, but it is trying to reduce friction in search and keep users on its platform longer, and real estate listings are a natural extension of that strategy while Zillow still maintains major advantages through its app, brand, ShowingTime platform, and deep agent integrations.
Zillow stock dropped because investors saw future distribution risk, not an immediate revenue issue, as the test showed Google could keep real estate searchers inside its own results rather than sending them to portals like Zillow, raising concerns about long-term traffic control, lead flow ownership, and platform leverage.
In this test, Google appeared to source real estate listings through third-party data providers connected to MLS feeds, such as ComeHome or HouseCanary, which raised questions around MLS permissions, IDX rules, and how listing data can be used inside paid or native search formats.
You likely can’t see the listings because Google pulled the test back, which is common when A/B tests gain public attention, as Google frequently limits or pauses experiments based on geography, device type, and user cohorts without any public announcement.
There is no confirmation that Google will launch a standalone real estate platform, but Google’s testing behavior suggests it is exploring deeper real estate search experiences, and historically successful search experiments often return in expanded forms integrated directly into Google Search.
This increases the importance of strong Google Business Profiles, high review ratings, fast response times, and call answer rates, because if Google expands click-to-call or schedule-tour formats, agents who handle inbound calls efficiently will be favored in lead distribution.
Yes. For high-value transactions like real estate, phone calls signal higher intent and convert at higher rates than form fills, which is why Google, Facebook, and Zillow are all prioritizing click-to-call experiences in their platforms.
Agents should avoid being fully dependent on any single portal, because platform-controlled traffic can change quickly, while agents who build direct relationships, strong follow-up systems, and diversified lead sources are more resilient to shifts in search and advertising platforms.
No one knows for sure, but Google does not test features casually, and successful experiments often return in broader forms, making this test a strong signal of where real estate search is heading even if the exact format does not reappear.
