On the same day Redfin announced a new partnership to syndicate Zillow rental listings in multifamily buildings, the company said it would eliminate the positions of approximately 450 employees.
Category: real estate 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.
Realtor.com parent sues CoStar Group, claiming theft of portal data
“Competitors should never be allowed to cheat and steal to get ahead,” Move, Inc. attorneys claim in a new suit alleging an ex-Realtor.com employee maintained access to the data while at CoStar.
CoStar Group tallies Q1 revenue growth on success of Homes.com
The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.
Greg Schwartz’s Tomo launches AI-powered home search platform
Former Zillow executives Greg Schwartz and Carey Armstrong have launched an artificial intelligence-powered home search portal under their company, Tomo. The portal is available to homebuyers in 21 states.
Realtor.com CEO ‘loves’ heated competition with Homes.com
Realtor.com CEO Damian Eales addressed the traffic rivalry with Homes.com and why competition is good for agents and consumers.
Zillow unveils top 10 markets where people dreamed of moving in 2023
The real estate portal pulled user search data and other metrics to find the top markets where people looked to move to in 2023. (Hint, the East Coast is really popular right now)
Buckle up for the 2024 portal war
Expect the portal wars to go into overdrive in 2024, with CoStar Group leading an ambitious effort to unseat Zillow as the country’s top real estate portal, technology advisor Mike DelPrete writes.
Realtor.com suffers double-digit drop in quarterly revenue, traffic
Realtor.com parent company Move Inc.’s revenue declined 16 percent to $142 million in the fiscal first quarter. Despite the loss, CEO Robert Thomson remained bullish about the portal’s long-term prospects.