Move’s counsel filed a Notice of Removal on Tuesday to move the class action suit against it from state to federal court. The lawsuit claims Move knowingly sold unvetted and fraudulent leads to agents through its network.
Category: portals
Real estate portal strength provides outsized pricing power
Mike DelPrete analyzes that near-monopoly the most prominent portals have in their markets and how that translates into pricing power.
Portals and disruptors are eyeing the future of mortgage markets
The companies that can afford to, including Zillow, are aggressively growing MLO headcount in order to capture future market share, Mike DelPrete writes.
Matterport posts $38.4M loss in Q3 as it spends for scale
During the first nine months of the year, Matterport pulled in a total of $125.8 million in revenue. Most of that is from recurring services and subscriptions.
CoStar moves one step closer to securing Arlington HQ
CoStar Group inked a deal with a longtime tenant of its new Arlington HQ, which leased 13 of the building’s 31 floors. The tenant agreed to downsize to two floors, giving CoStar enough space for the 500 employees moving to the new HQ.
Rupert Murdoch’s REA Group calls it quits on Rightmove acquisition
News Corp.-subsidiary REA Group announced on Monday it had given up on its quest to purchase Rightmove after its fourth offer of $8.3 billion was rejected by the UK portal’s board of directors.
Realtor.com releases enhanced map-based search feature
Realtor.com released its new map-based search experience on Tuesday, which uses color-coded map layers to help homebuyers find their next home based on preferred home features and market trends.
Court denies Move’s preliminary injunction in suit against CoStar
California District Judge George H. Wu declined Move’s preliminary injunction request against CoStar on Monday, stating the portal failed to prove the risk of “imminent, irreparable harm.”
HUD partners with Zillow to close racial homeownership gap
The Department of Housing and Urban Development has partnered with Zillow for “Let’s Make Home the Goal,” a campaign aimed at connecting minority communities with HUD pre-housing counseling services.
Zillow hires former PayPal exec to lead agent sales team
Zillow is continuing its leadership shuffle, with the Seattle-based residential portal announcing a new senior vice president of agent sales on Friday. Former PayPal executive Soumya Tulloss will lead Zillow’s agent sales, the segment that includes flagship products Zillow Showcase and Zillow Premier Agent.