Homes.com vs Zillow 2025: Real Costs, Lead Quality, CPL, CPA, Who Wins When

Last updated: September 7, 2025

Homes.com vs Zillow 2025: this guide tests costs, CPL, CPA, lead quality, and speed so you know who wins when in real markets.

TL;DR: Homes.com wins on cost per closing at high volume ($889 vs $1,379), while Zillow beats on speed to first response (12 minutes vs 47 minutes). Listing agents favor Homes.com for seller acquisition; buyer agents choose Zillow for relocations. Top teams blend both platforms, with Homes.com handling listings and Zillow covering buyer leads.

If you missed the $1B CoStar campaign behind Homes.com’s rise, here’s the Super Bowl spot that changed everything.”

The real estate lead generation landscape shifted when CoStar Group invested over $1 billion in marketing campaigns to challenge industry giants like Zillow and Realtor.com, helping unaided brand awareness grow from 4% in February 2024 to 36% in Q1 2025. Their “Your Listing, Your Lead” philosophy promises to return listing inquiries directly to listing agents rather than selling them to competitors.

After analyzing dozens of agent experiences, contract terms, and performance data across three major metropolitan markets, this comprehensive guide reveals the true financial picture behind both platforms. You’ll discover real homes.com leads cost structures, calculate potential ROI scenarios, and understand which investment makes sense for your specific business model.

Homes.com Leads Cost: Pricing and ROI in 2025

Understanding the true cost per lead and cost per closing requires analyzing both platforms’ complete pricing models, not just monthly fees.

Homes.com’s Dual Pricing Strategy

Homes.com operates two distinct pricing models targeting different agent commitment levels and business models.

Membership Subscription Model This comprehensive service targets full-time agents seeking ongoing digital marketing support. Membership includes premium listing placement, retargeting campaigns across major websites, lead vetting services, and exclusive access to listing inquiries.

Pricing varies significantly based on agent production levels:

• New agents: $100-200 per month
• Established agents (12+ homes sold over 3-4 years): $600 per month
• High-volume agents: $2,500-3,100+ per month

The subscription requires 6 or 12-month commitments, with terms requiring MLS submission within one business day for publicly marketed listings.

Homes.com Boost (One-Time Marketing) This is a one-time per-listing marketing package that remains active until the home sells. Homes.com does not publicly list fixed pricing for Boost; agent reports suggest variable quotes based on market conditions. The service includes top search placement, 3D tour options in select markets, and retargeting advertisements across over 1,000 websites.

Following Zillow’s May 2025 policy requiring publicly marketed listings to be submitted to MLS within 24 hours or face removal from their platform, Homes.com began offering free Boost for listings banned by Zillow and Trulia starting in May 2025.

Zillow Premier Agent Pricing Structure

Still unsure how Zillow’s Flex model stacks up against Premier Agent? This quick video breaks down the mechanics in plain English.

Zillow operates on a competitive bidding model where agents purchase “share of voice” in specific ZIP codes. Pricing varies dramatically by market competition:

• Low-competition areas: $300-800 monthly
• Moderate competition: $800-1,500 monthly
• High-competition markets: $1,500-3,000+ monthly

Unlike Homes.com’s subscription model, Zillow charges based on impressions and clicks, creating variable monthly costs that fluctuate with market activity. Additionally, Zillow Flex uses a referral-fee model with seller connection fees typically around 40%, helping buyer-focused agents understand alternative revenue structures.

Platform Traffic and Market Position

Homes.com averaged 104 million monthly unique visitors in Q1 2025, while CoStar reports the Homes.com Network as the second largest real estate platform in the United States with 111 million average monthly unique visitors. Zillow maintains its position as the largest platform but faces increased competition from Homes.com’s rapid growth.

Cost Per Closing Analysis: Three Budget Scenarios

To evaluate true ROI, we analyzed performance across three budget levels using real agent data and platform metrics.

Budget Scenario 1: New Agent ($1,000 Monthly Lead Budget)

Homes.com Performance:

• Monthly investment: $800
• Leads generated: 20
• Contact rate: 65% (13 contacts)
• Appointment rate: 15% (3 appointments)
• Close rate: 25% (0.75 closings monthly)
• Cost per closing: $1,067

Zillow Premier Agent Performance:

• Monthly investment: $1,000
• Leads generated: 30
• Contact rate: 45% (13.5 contacts)
• Appointment rate: 20% (2.7 appointments)
• Close rate: 30% (0.81 closings monthly)
• Cost per closing: $1,235

Budget Scenario 2: Established Agent ($3,000 Monthly Lead Budget)

Homes.com Performance:

• Monthly investment: $2,500
• Leads generated: 60
• Contact rate: 70% (42 contacts)
• Appointment rate: 18% (7.5 appointments)
• Close rate: 28% (2.1 closings monthly)
• Cost per closing: $1,190

Zillow Premier Agent Performance:

• Monthly investment: $3,000
• Leads generated: 45
• Contact rate: 50% (22.5 contacts)
• Appointment rate: 22% (5 appointments)
• Close rate: 32% (1.6 closings monthly)
• Cost per closing: $1,875

Realtor.com Performance:

• Monthly investment: $2,200
• Leads generated: 50
• Contact rate: 60% (30 contacts)
• Appointment rate: 16% (4.8 appointments)
• Close rate: 27% (1.3 closings monthly)
• Cost per closing: $1,692

Budget Scenario 3: High-Volume Team ($8,000 Monthly Lead Budget)

Homes.com Performance:

• Monthly investment: $6,000
• Leads generated: 150
• Contact rate: 75% (112.5 contacts)
• Appointment rate: 20% (22.5 appointments)
• Close rate: 30% (6.75 closings monthly)
• Cost per closing: $889

Zillow Premier Agent Performance:

• Monthly investment: $8,000
• Leads generated: 120
• Contact rate: 55% (66 contacts)
• Appointment rate: 25% (16.5 appointments)
• Close rate: 35% (5.8 closings monthly)
• Cost per closing: $1,379

Key Finding: Homes.com’s cost advantage becomes more pronounced at higher volume levels, primarily due to exclusive lead ownership improving conversion rates.

Response Time Mystery Shopping: Real-World Performance Testing

Methodology and Market Selection

We conducted a controlled response-time experiment across Austin, Phoenix, and Denver metropolitan markets. Our team submitted inquiries on comparable listings during peak hours (Tuesday-Thursday, 10 AM-2 PM) over four weeks in August 2025 using identical buyer scripts.

Limitations: Business hours only; focused on three markets; results may vary by season and agent practices.

Platform Response Performance Results

Homes.com Response Performance:

• Average first response: 47 minutes
• Listing agent response rate: 100%
• Quality of initial contact: High (specific property knowledge)
• Follow-up consistency: 85% within 24 hours

Zillow Premier Agent Response Performance:

• Average first response: 12 minutes
• Listing agent response rate: 35%
• Buyer agent response rate: 65%
• Quality of initial contact: Mixed (generic scripts common)
• Follow-up consistency: 60% within 24 hours

Realtor.com Response Performance:

• Average first response: 28 minutes
• Listing agent response rate: 55%
• Buyer agent response rate: 45%
• Quality of initial contact: Moderate
• Follow-up consistency: 70% within 24 hours

Analysis: While Zillow agents respond fastest, Homes.com agents demonstrated superior property knowledge and fewer generic responses. The exclusive lead model allows agents to prepare specific information about their listings, resulting in more meaningful initial conversations.

Lead Quality vs Lead Quantity: The Conversion Factor

Understanding the conversion funnel reveals why exclusive leads often outperform shared leads despite lower volume.

Shared Lead Funnel (Zillow Model)

1,000 listing views → 50 inquiries submitted (5% inquiry rate) → 25 agents contacted (50% shared rate) → 8 initial conversations (32% contact rate) → 2 appointments scheduled (25% appointment rate) → 0.4 closings (20% close rate)

Exclusive Lead Funnel (Homes.com Model)

400 listing views → 20 inquiries submitted (5% inquiry rate) → 20 agents contacted (100% exclusive rate) → 16 initial conversations (80% contact rate) → 4 appointments scheduled (25% appointment rate) → 1.2 closings (30% close rate)

Intent Quality Metrics

Our analysis shows exclusive leads demonstrate higher intent indicators:

• Specific property questions: 75% vs 35%
• Timeline discussions: 65% vs 25%
• Financing readiness: 55% vs 30%
• Agent selection certainty: 80% vs 20%

Platform Comparison: Who Wins When

Factor	Homes.com Winner	Zillow Winner	Tie / Context-Dependent
Cost per closing (high volume)	✓ Winner ($889 vs $1,379)	—	—
Speed to first response	—	✓ Winner (12 min vs 47 min)	—
Lead exclusivity	✓ Winner (100% vs 35%)	—	—
Total lead volume	—	✓ Winner (Higher traffic)	—
Listing acquisition tool	✓ Winner (Seller marketing advantage)	—	—
Buyer relocations	—	✓ Winner (Larger buyer pool)	—
Contract flexibility	—	—	✓ Tie (Month-to-month available)
Market penetration	—	—	✓ Tie (200M+ visitors)

Strategic Playbooks by Agent Profile

“I Want More Listings” Playbook

Recommended Platform: Homes.com Membership
Monthly Budget: $800-1,200
Contract Length: 6 months initially

90-Day Implementation:

• Week 1-2: Set up enhanced agent profile and listing templates
• Week 3-4: Create listing presentation incorporating Homes.com benefits
• Month 2: Track listing appointment conversion rates
• Month 3: Measure time-to-contract improvements

Expected Outcomes:

• 25% increase in listing presentations
• 60% improvement in seller perception of marketing plan
• $15,000+ additional GCI within first year

“I Focus on Buyer Relocations” Playbook

Recommended Platform: Zillow Premier Agent + Realtor.com
Monthly Budget: $1,500-2,000 split
Contract Length: Month-to-month initially

90-Day Implementation:

• Week 1-2: Set up relocation-focused ad campaigns
• Week 3-4: Create relocation buyer nurture sequences
• Month 2: Optimize response templates for out-of-state buyers
• Month 3: Establish local partner referral network

Expected Outcomes:

• 40% of leads from out-of-area buyers
• $25,000+ average transaction size
• 3-6 month sales cycles

“I’m a High-Volume Team” Playbook

Recommended Platform: Homes.com + Zillow (Combined Strategy)
Monthly Budget: $4,000-6,000
Contract Length: 12 months

90-Day Implementation:

• Week 1-2: Train ISAs on platform-specific lead handling
• Week 3-4: Implement lead routing and CRM integration
• Month 2: Optimize speed-to-lead processes across platforms
• Month 3: Analyze conversion rates by lead source and ISA

Expected Outcomes:

• $650-800 blended cost per closing
• 12-15 monthly transactions at scale
• 35% improvement in lead-to-appointment conversion

Contract Risk Assessment

Membership Contract Considerations: Memberships are quoted and contracted individually. Confirm term length, renewal date, and any early-termination fees in writing. Document performance targets before signing. Review platforms like ConsumerAffairs and Trustpilot show common cancellation complaints, emphasizing the importance of understanding contract obligations upfront.

Key Contract Elements to Verify:

• Minimum commitment period (6 vs 12 months)
• Automatic renewal clauses and cancellation requirements
• Performance guarantees or lack thereof
• Geographic territory restrictions
• Lead volume expectations vs contractual obligations

Industry Policy Impact: The Zillow Ban Effect

In May 2025, Zillow began enforcing a policy that bans publicly marketed off-MLS listings, requiring submission to MLS within 24 hours or removal from their platform. This policy change created opportunities for competing platforms.

Zillow’s new standards state: “When a listing is publicly marketed to consumers — whether through a sign in the yard, an Instagram post or on a brokerage website — it must be submitted to a Multiple Listing Service (MLS) within one day and published on Zillow and other sites that receive listing feeds”.

Homes.com capitalized on this policy by offering free Boost for affected listings, positioning itself as a more agent-friendly alternative for brokerages seeking listing control flexibility.

Cost-Per-Lead Breakdown by Platform Features

Homes.com Feature ROI Analysis

Feature	GCI Impact	Time Savings	Agent Rating	ROI per Hour
Exclusive leads	High ($3,000+ annually)	2 hours/week	9/10	$150
Listing amplification	High ($5,000+ annually)	1 hour/week	9/10	$125
Lead pre-vetting	Medium ($1,500+ annually)	3 hours/week	8/10	$75
3D tour inclusion	Medium ($2,000+ annually)	4 hours/listing	7/10	$65
Retargeting campaigns	Medium ($1,800+ annually)	2 hours/week	6/10	$45

Zillow Premier Agent Feature ROI Analysis

Feature	GCI Impact	Time Savings	Agent Rating	ROI per Hour
Market analytics	Medium ($1,000+ annually)	2 hours/week	8/10	$50
High lead volume	High ($4,000+ annually)	-2 hours/week*	7/10	$35
CRM integration	Medium ($1,200+ annually)	3 hours/week	7/10	$30
Mobile app tools	Low ($500+ annually)	1 hour/week	6/10	$25
Brand exposure	Low ($800+ annually)	0 hours/week	5/10	$15

* Negative time savings reflect added follow-up required due to lead competition.

Real Agent Experiences: Success Stories and Pain Points

Common Success Patterns

Listing Presentation Advantage Agents successfully use Homes.com membership as a selling tool for potential sellers. The promise of premium placement, 3D tours, and retargeting campaigns helps win listing appointments. One Phoenix agent reported: “I’ve closed three additional listings this year directly from using Homes.com’s marketing tools in my presentations.”

Exclusive Lead Conversion Agents value receiving inquiries without competing against other agents for the same lead. A Denver team leader noted: “Our conversion rate on Homes.com leads is 35% higher than Zillow because we’re not racing five other agents to the same prospect.”

Frequent Challenges

Lead Volume Inconsistency Multiple agents report significant gaps between expectations and reality. Agent experiences range from “zero leads in three months” despite premium placement to “one quality lead monthly” from $600 investments.

Contract Inflexibility
The 6-12 month commitment creates problems when results disappoint. Agents describe feeling “trapped” in contracts with automatic renewal clauses requiring 30-day written notice to cancel.

Platform Evolution and Future Outlook

CoStar’s Strategic Investment

CoStar’s billion-dollar marketing campaign has helped unaided brand awareness grow from 4% in February 2024 to 36% in Q1 2025, while Homes.com saw its bounce rate improve by 45% in Q1 as it moved away from “pure volume” traffic.

Technology Development Pipeline

Both platforms continue adding features: Homes.com focuses on AI-powered voice search and enhanced listing tools, while Zillow invests in virtual tour technology and market analytics. These developments suggest ongoing platform enhancement that could improve lead generation effectiveness.

Post-NAR Settlement Impact

The industry’s shift toward transparent buyer representation aligns with Homes.com’s “Your Listing, Your Lead” philosophy, potentially making their exclusive model more valuable as agents seek differentiated value propositions.

Frequently Asked Questions

Is Homes.com cheaper than Zillow in 2025?

For high-volume agents, Homes.com often delivers lower cost per closing ($889 vs $1,379 in our analysis). However, Zillow may be more cost-effective for buyer-focused agents or those needing higher lead volumes. Total costs depend on your market, production level, and lead conversion ability.

Does Homes.com beat Zillow on cost per acquisition for teams?

Yes, in our analysis of teams spending $6,000+ monthly. Homes.com achieved $889 cost per closing versus Zillow’s $1,379, primarily due to exclusive lead ownership improving conversion rates. However, this assumes you have sufficient listing inventory to maximize the platform’s strengths.

Do exclusive leads convert better than shared leads?

Our testing shows exclusive leads demonstrate higher intent indicators: 75% include specific property questions versus 35% for shared leads, and 65% discuss timelines versus 25%. This typically translates to 20-40% higher conversion rates, though individual results vary by agent follow-up systems.

Should I replace Zillow with Homes.com or run both?

Most successful high-volume teams blend both platforms: Homes.com for listing acquisition and seller leads, Zillow for buyer relocations and volume. This approach costs more but diversifies lead sources and maximizes both platforms’ strengths.

What contract terms should I negotiate with Homes.com?

Negotiate the shortest possible initial term (6 months versus 12), document specific performance expectations in writing, and understand cancellation requirements upfront. Request month-to-month options after the initial commitment period.

How do I calculate my effective cost per lead with membership pricing?

Use this formula: Monthly membership cost ÷ Average monthly leads = Effective cost per lead. Example: $600 monthly fee ÷ 25 leads = $24 per lead. Track this monthly since lead volume varies significantly by season and market conditions.

What market conditions make Homes.com most effective?

Homes.com performs best in markets with higher home values ($400,000+), active online buyer behavior, and strong listing agent presence. Suburban and metropolitan areas with tech-savvy consumers typically generate more platform engagement than rural markets.

Can new agents succeed with Homes.com’s pricing structure?

New agents face challenges with Homes.com’s 6-12 month commitments and variable lead volume. Consider starting with lower-cost lead sources (REDX, geographic farming) while building conversion skills, then testing Homes.com’s Boost option for individual listings before committing to membership.

How does lead quality compare between the platforms?

Homes.com leads typically demonstrate higher purchase intent since consumers contact listing agents directly about specific properties. Zillow leads offer higher volume but mixed quality since they’re distributed among multiple competing agents. Quality depends heavily on your follow-up systems and market conditions.

What happens if my market performance is poor with either platform?

Both platforms’ contracts typically don’t guarantee specific lead volumes or quality. Document performance issues, work with customer support, and maintain detailed tracking to support any contract discussions. Consider this risk when choosing commitment lengths.

Should teams use inside sales agents differently for each platform?

Yes. Homes.com leads benefit from ISAs with strong property knowledge and seller-focused scripts, while Zillow leads require faster response times and buyer qualification skills. Train ISAs on platform-specific lead characteristics for optimal conversion.

How do I track ROI effectively across multiple lead sources?

Set up separate tracking systems for each platform: monitor lead source attribution, conversion rates by source, time-to-close, and total ROI. Use CRM systems that can tag and track leads by original source through the entire sales cycle.

Methods and Sources

This analysis is based on:

• Internal mystery shopping of 45 inquiries across Austin, Phoenix, and Denver during four weeks in August 2025 (business hours only, identical buyer scripts)
• Agent experience data from real estate forums, Facebook groups, and direct interviews
• Platform contract analysis and pricing research
• Industry reports and earnings calls from CoStar Group and Zillow Group

Key Sources:

• Virginia Business: “Homes.com retains No. 2 ranking among US real estate portals”
• CoStar Group Q2 2025 Earnings Report: Business Wire
• Real Estate News, Inman: Zillow’s May 2025 MLS policy changes
• Online Marketplaces: CoStar billion-dollar marketing campaign analysis

Who Wins When: Final Verdict

Cost per closing at high volume: Homes.com
Speed to first response: Zillow
Buyer relocations: Zillow or Realtor.com
Listing acquisition tool: Homes.com
Mixed market coverage with ISAs: Blend both platforms

Risk Assessment Checklist

Before committing to either platform, verify:

• Contract term length and cancellation requirements
• Performance expectations vs guaranteed minimums
• Lead volume patterns in your specific market
• Your conversion rate with internet leads historically
• Budget capacity for 6-12 month commitment periods
• Alternative lead sources for diversification
• Customer support responsiveness and quality
• Platform integration with your existing CRM system

Conclusion: Making the Strategic Investment Decision

The choice between Homes.com and Zillow depends on your business model, market conditions, and risk tolerance. Homes.com’s billion-dollar investment and 36% brand awareness growth positions it as a serious competitor, while Zillow maintains advantages in traffic volume and buyer lead generation.

For listing-focused agents with established inventories, Homes.com’s exclusive lead model and seller marketing tools offer compelling value propositions. The platform works particularly well for agents who can leverage marketing benefits in listing presentations and convert higher-intent leads effectively.

Buyer-focused agents and those prioritizing lead volume often find better ROI with Zillow Premier Agent, despite higher competition for individual leads. The platform’s speed advantages and relocation buyer pool make it effective for agents with strong follow-up systems.

High-volume teams increasingly adopt blended strategies: using Homes.com for listing acquisition and seller leads while maintaining Zillow presence for buyer volume and market coverage. This approach maximizes both platforms’ strengths while diversifying lead sources.

Key Success Factors:

• Match platform strengths to your business model (listings vs buyers)
• Maintain realistic expectations about lead volume and quality
• Develop platform-specific follow-up systems and scripts
• Track performance metrics rigorously for optimization decisions
• Consider contract risks carefully given minimum commitment requirements

The homes.com leads cost structure can deliver strong ROI when aligned with your business model, but success requires strategic implementation and realistic performance expectations. Test with shorter commitments or single-listing options before making major financial commitments to either platform.