No IPO in 2009 says Zillow, as they feel the pinch of the real estate, financial and online marketing markets. Intriguing as leadership has always been very bullish on building a business model entirely around online advertising.

Already funded to the tune of $87 million in venture financing, Zillow will have to make good on their vision soon as many other companies are offering similar and/or competing services, including  companies such Trulia, RealSeekr and now even the new NAR Library project.

At the same time, and some three years after being formed, Zillow now also follows Trulia by announcing a Broker Advisory Board to help provide them with the “right” insights into the industry.

Brokers who have joined the Zillow Board include: Steve Baird, President/CEO of Baird & Warner; Ken Baris, President of Jordan Baris; Bob Blount, CEO of RE/MAX Allegiance; Sherry Chris, President and CEO of Better Homes and Gardens Real Estate, LLC; Craig Cuyar, SVP & Chief Information Officer for the Realogy Franchise Group; Dan Elsea, President of Real Estate One; Pat Lashinsky, CEO and President of ZipRealty; Mike Montsko, President of Weichert Lead Network; and Harley Rouda, Jr., CEO of Real Living.

Zillow also recently announced reaching the “magical” mark of 3 million for-sale listings.

So there is a lot going on, yet it feels as if the sizzle is gone. What are your thoughts?