Making a Move (Inc.)
If I had to pick the biggest story in U.S. real estate this year (aside from the ongoing housing crisis) I would have to say Zillow’s IPO. But looking back I’ve been really impressed at what an incredible year Move, Inc. has put together. Yes, that’s right I said Move.
When you take a look everything Move announced in 2011 you have to say that these guys have been hard at work. Not convinced? Take a look at some of the bigger stories.
January 13. Move, Inc. powers AOL. One of the untold stories about this deal is it was actually a “take away” from LPS. So they not only signed AOL, but took the business away from a competitor. – Well played.
February 11. Realtor.com Android App was showcased a the 2011 Mobile World Conference. In the world of mobile this is a huge deal.
April 21. Move, Inc. signs listing syndication deal with Zillow. Crazy? Like a fox.
April 26. Realtor.com launches iPad App. By far the best real estate app on the iPad.
July 18. Move acquires Social Bios. I’m looking forward to see the implementation points Realtor.com does with this technology.
August 17. AOL Real Estate Launches New Search Experience Powered by Move, Inc. The fruits of their agreement begin to bear fruit.
November 1. Release first real estate CRM app to be powered by HTML5. Super cool update to their Top Producer application.
November 3. Realtor.com goes global. Oh yeah, they launched an international site, just for kicks.
November 21. Reverse Stock Split takes effect. I think this is more a mental thing than anything else.
Plus their Find app has been launched in several MLS markets around the country.
And that’s not including another biggie: “Connections” which allows Realtors to generate leads from listings within a specifc zip code (even if those listings are not their own). While I think Realtor.com lost the “high ground” with this service I do think by displaying all photos within that sponsored zip code is a clever way of placating most agents.
And then they launched a Facebook app dubbed “Social Connections“, with Ernie Graham (founder of recently acquired Social Bios).
Whew, no wonder Audie is so damn busy!
Just half of those initiatives would be a huge undertaking. There are some potential game changers on this list. But, as a wise man once said, “ideas are just multipliers of execution”. 2012 needs to be Move’s year of executing the vision (generating revenue) of what the 2011 bumper crop products and services.
So, what do I take away from this? If Zillow, Truila or anyone else wants to play in this sandbox Berkowitz, Samuelson, Beardsley and the the rest of the Move team is ready for a fight.
Talk about a piece of the rock!
Brookfield has already acquired GMAC Real Estate and Real Living (which now both operate under. This huge news in the world of Real Estate Franchisors. Brookfield has now seemingly overnight become one of the major franchisor in the United States (think Realogy or RE/MAX).
“Through its various brands, Brookfield’s residential real estate franchisees are now present in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal, with a network of approximately 80,000 real estate agents, 2,800 real estate brokerage locations and more than $150 billion in annual residential real estate transactions.”
See Full Press Release here.
RE/MAX signs deal with Homes.com
I heard through the grapevine last week that RE/MAX International (LLC?) has signed a deal with eNeighborhoods Homes Media Solutions, for it’s new marketing system Home Connect. Details are a bit early but it appears RE/MAX agents will have access to some of Homes Connect features and will be able to upgrade to other features. Sounds similar to the Market Leader and Keller Williams for eEdge. But as I said details are still forthcoming.
There are a couple things I like about this:
1. It’s great to see eNeighborhoods Homes Media Solutions get their enterprises sales mojo back. With products like Mercado sun setting, and the siphoning off their IDX business, it was huge to see a deal of this size come out of the pipeline.
2. It’s good for RE/MAX. Outside looking in it appears the franchise is going through a transition period (isn’t everybody in this market?) and it’s good to see them making investments toward the future.
I have a lot of questions still. How does Homes.com fit in? What about LeadStreet? What components are included? How much does it cost to upgrade? But I’ll save that for a later post.
Congrats to Andy and his boys for a nice win!
Hard to believe that RealtyTrac co-founder, James Saccacio, has stepped down as CEO and now acts as a “executive advisor”. As I first reported some time ago (Inman News just posted something today) it looks like my sources were correct and a equity group from Texas has bought a majority interest in the company.
Full press release below:
RealtyTrac Secures Capital Investment from Renovo Capital, Positioning the Company for Continued Growth
Capital Infusion Enables RealtyTrac to Focus on Improving User Experience by Developing Innovative Products and Refining its Nationwide Foreclosure Data
IRVINE, Calif. – Nov. 28, 2011 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today announced that the company has obtained a substantial capital investment from Renovo Capital LLC through the private equity firm’s Renwood Opportunities Fund. Renovo’s investment in RealtyTrac provides the capital necessary to fund growth, nurture expansion into untapped areas of the market, and continue the company’s mission of dramatically improving the overall experience of transacting real estate.
Moving forward, RealtyTrac will focus on expanding its data collection capabilities and footprint while constantly improving the user experience on the nation’s leading foreclosure website, www.realtytrac.com, and developing innovative new products to enhance RealtyTrac’s value proposition for individuals, investors and real estate professionals.
Brandon Moore will assume the CEO role. Moore successfully led the expansion of several online ventures and has specific expertise in subscription-based marketing. He was most recently the senior vice president and general manager of One Technologies, where he was instrumental in growing the company’s annual revenue exponentially over a four-year span.
RealtyTrac’s co-founder, James J. Saccacio, will continue to help shape the company’s future as a member of the RealtyTrac board, and as an executive advisor and continuing to impart his trusted market knowledge as a spokesperson for the company.
“I am excited to move forward with this venture as it will empower RealtyTrac to better serve its customers, providing them with a wider data reach, more robust foreclosure search and real estate research capabilities, and an enhanced user experience,” said Saccacio. “With this capital infusion, RealtyTrac’s leadership can expand on its core competencies of collecting, analyzing and democratizing the availability of U.S. foreclosure data. We have identified just the right investor to partner with, and the timing of this investment is well synched with our plans for maintaining RealtyTrac’s reputation as a go-to company that exceeds the needs of its customer base and addresses the exciting challenges the dynamic real estate market presents.”
“We are pleased to complete this transaction and continue working with RealtyTrac’s management team to preserve and expand upon this widely respected brand,” said Renovo Managing Partner Mark Barbeau. “This company is a valuable resource to real estate professionals, investors and financial institutions alike, as well as for various organizations within the public sector.”
About RealtyTrac Inc.
RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting millions of unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.
About Renovo Capital LLC
Renovo Capital LLC (www.renovocapital.com), through its Renwood Opportunities Fund, invests in companies across a variety of industries in North America. Renwood Opportunities Fund was formed by Renovo Capital and Rosewood Private Investments, the private equity arm of The Rosewood Corporation, a prominent family-owned company with diverse worldwide operations and investments. Renovo Capital has offices in Dallas, Denver, and Irvine.
About James Saccacio
RealtyTrac Co-Founder James Saccacio became the company’s chairman and CEO in October 2000. Since then, he has transitioned the company from a local provider of foreclosure data to the nation’s leading online foreclosure marketplace. He was named one of the 100 most influential real estate leaders in 2010 by Inman News and received the 2011 Distinguished Alumni Award from the SMU Cox School of Business, for which he currently serves on the Executive Advisory Board. Saccacio is a sought-after industry expert on mortgage and foreclosure-related topics. His knowledge and opinions have been solicited by major national media outlets, government agencies, business associations and educational communities alike. He remains intimately tied to RealtyTrac’s mission: to dramatically improve the overall experience of transacting real estate for individuals, investors and real estate professionals by making the process easier, more affordable and less time-consuming.
###
Media Contacts:
Christine Stricker
949.502.8300, ext. 268
christine.stricker@realtytrac.com
Michelle Schneider
949.502.8300, ext. 139
michelle.schneider@realtytrac.com
“Hey Siri, make me a CMA”
So freaking cool…
Source: Lightning | Twice – The official blog of W&R Studios
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The shit just hit the fan…
Twitter was all a…twitter, I guess when Craig Kamman posted that Edina Realty (owned by HomeServices of America) was going to pull their listings from Trulia and other “3rd party aggregators” and possibly Realtor.com. The post is worth a read:
Edina Realty discontinues 3rd Party Sites like Trulia and Realtor.com
This was followed by a blog post by Jay Thompson who had his own take on the news, where he imagines a conversation between an seller and his agent:
“So Mr. Agent, you’ll put our home listing on the internet, won’t you?
Well, it will be on our brokerage site, but we’ve elected not to put your listing on some of the most highly visited real estate sites in the country.
Uhm, why is that?
Well, we want to be sure our agents get the leads your home listing generates. And those meanies at the third party site want to charge for them!
Uhm, isn’t the point to sell our home, not generate leads for you and other agents?”
Obviously Jay doesn’t think it’s a good idea:
Edina Realty pulling listings from Trulia and Realtor.com?
Then Rob Hahn went “Oliver Stone” or got “stoned” at one of California’s many marijuana dispensaries while he was out here for the 2011 NAR Convention in Anaheim. And I quote:
“There is, I believe, a real chance that in the next three to six months, we will see the splintering of the foundation of the industry: the MLS and the Associations. The world that comes next, a world without the Multiple Listing Service, will be one filled with unintended consequences.”
After reading Rob’s post I don’t know whether to hug my kids or ask him to pass the bong, because that is some good shit he’s smoking.
All kidding aside, I may be just whistling through the graveyard so his post is worth the read:
Extinction Event Horizon: Real Estate
This story is developing…
At the NAR EXPO 2011 in Anaheim I had a chance to get a demo from Bill Fowler, from Solid Earth, of their new “Spring“, MLS system. Hope you enjoy.
Nice win for Rich Lull and his team at LPS MLS Solutions. As everyone knows the “take-aways” (meaning taking business from another) are always the hardest. Congrats!
Full Press Release Below:
The Upstate Alliance of REALTORS® Selects Paragon as its new MLS System
Fort Wayne, Ind., REALTOR® Association to Partner with LPS
JACKSONVILLE, Fla. – Nov. 10, 2011 — LPS MLS Solutions, a division of Lender Processing Services (LPS), announced today that the Upstate Alliance of REALTORS® (UPSTAR MLS) selected LPS’ Paragon™ as its MLS system.
UPSTAR MLS, located in Fort Wayne, Ind., selected LPS MLS Solutions after carefully evaluating several MLS vendors and determining that Paragon offers the features that UPSTAR MLS members need to help them become more efficient and competitive. With Paragon’s online multi-tasking capabilities, agents will save time because they have the ability to conduct property searches, create a comparative market analysis (CMA), change listing information and complete other tasks, without having to close and reopen windows on the computer. UPSTAR MLS was impressed with Paragon for a variety of reasons, including its intuitive and straightforward navigation, which will help members quickly learn how to use the system. And, because Paragon works on any browser or any mobile device, agents are able to access MLS information while in the field.
“We want our members to have the best tools to help them succeed,” said Laura Raudonis, CEO of UPSTAR MLS. “Paragon is an excellent fit for our organization because it is easy to use, fast and seamlessly connects agents with their clients. We are confident our members will experience great benefits from this new partnership and are very pleased that the system will be supported by the LPS team.”
Located in northeastern Indiana, UPSTAR MLS serves the Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley counties, and has a membership of approximately 1,500 REALTOR® and affiliate members.
“We are pleased that UPSTAR chose to convert to LPS’ Paragon, which will deliver enhanced MLS functionality to Fort Wayne real estate professionals,” said Rich Lull, senior vice president LPS MLS Solutions. “UPSTAR was looking for a cost-effective solution with robust features that could also provide a smooth transition from the association’s current system. We look forward to providing innovative tools and responsive service to UPSTAR and its members.”
Serving more than 300 MLSs and 300,000 real estate professionals, Paragon is a dynamic system platform that makes it easy for real estate professionals to manage their businesses and collaborate with clients. LPS MLS Solutions provides market-leading MLS Systems and public records data. For more information, please contact Bob Morse at 650-863-4333. You can also visit LPS MLS Solutions during the National Association of REALTORS® Conference in Anaheim, Calif., Nov. 11-14, at Booth 619 or online at www.LPSMLSSolutions.com.
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology, services and mortgage performance data and analytics to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ loan servicing platform, MSP. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com.
Media Contact: Micelle Kersch, 904.854.5043, michelle.kersch at lpsvcs dot com
Investor Contact: Nancy Murphy, 904.854.8640, nancy.murphy at lpsvcs dot com
I love this. Nice to see CoreLogic taking a stand against these guys when others didn’t have the mettle or resources to do so. To me this could be a huge point CoreLogic should make to prospects for choosing them as a vendor. We fight.
Full Press Release Below:
CoreLogic Awarded Summary Judgment in CollegeNET Lawsuit
November 11, 2011, Santa Ana, Calif. –
—Austin District Court Agrees Patent Claims Invalid as Obvious—
CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that CoreLogic MarketLinx® has been awarded summary judgment in the lawsuit, CollegeNET v. MarketLinx.
CollegeNET alleged that several CoreLogic MarketLinx products—including the MLXchange®, TEMPO® and Fusion™ multiple listing service (MLS) systems—infringed on a CollegeNET patent (No. 6,910,045), which relates to computer software that will send an automatic notification when newly-entered data matches pre-defined search criteria.
After CoreLogic was able to demonstrate to the court that CollegeNET’s patented process and system had been disclosed publically prior to the date of CollegeNET’s patent application, that is, “prior art” existed, Judge Sam Sparks in United States District Court for the Western District of Texas (Austin) agreed with CoreLogic, granted its motion for summary judgment, declared CollegeNET’s patent invalid and terminated the case two weeks before it was set to go to trial.
“Others have tried and failed to invalidate CollegeNET’s patent, but we were confident in the strength of the evidence upon which our prior art argument was based, and the courts agreed with us,” said Ben Graboske, CEO of CoreLogic MarketLinx. “MarketLinx prevailed in large part due to the expert knowledge possessed by our long-tenured and talented team members in addition to our decades-long focus on innovation.”
“CoreLogic fully respects the intellectual property of other rights holders, but we will always defend ourselves vigorously in cases we believe to be meritless,” added Rouz Tabaddor, VP and chief intellectual property counsel for CoreLogic. “Floyd Nation and Merritt Westcott of Winston Strawn did an exceptional job explaining to the Court how the prior art invalidates CollegeNET’s patent.”
About CoreLogic
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has more than 5,000 employees globally. For more information visit www.corelogic.com.
CORELOGIC, the stylized CoreLogic logo, MARKETLINX, MLXCHANGE and TEMPO are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. FUSION is a common law trademark owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.
SOURCE: CoreLogic.com
