The Company has Three Consumer Offerings
The company began by working with the
National Association of Realtors
(NAR) to host and manage the listings of Realtors nationwide in the mid-1990s. At the time, the company operated as RealSelect, Inc although the company became better known as Homestore.
In 1999 Homestore went public, and immediately became the #1 real estate site on the Internet, and raised $140 million. NAR retained a significant equity position, but Homestore negotiated agreements with hundreds of Multiple Listing Servicees (MLSs) and brokerages to secure direct feeds of listings and found itself in a head-to-head competition for listings and traffic with Microsoft’s HomeAdvisor.
In November 2005, Elevation Partners, a Bay Area Equity Firm, announced a $100 million investment in Homestore.
Move.com/Realtor.com Sample Webpage
In February 2006 Homestore changed its name to Move Inc. to distance itself from the Stuart Wolff controversy and to coincide with an expanded commitment to offering consumers comprehensive real estate listings, decision support tools, and access to qualified move-related service providers.
The re-branded company has three consumer offerings: Realtor.com, Move and Welcome Wagon. The company also acquired Moving.com, a provider of consumer moving tools and access to qualified moving services.
Criticism and controversy
Much of the past criticisms of the company centered around the actions of the management team during the rise of the dot-com bubble. In particular, the founder and former CEO, Stuart Wolff, was convicted of insider trading and falsifying the company books. Wolff's conviction was overturned on appeal in 2008.
W. Michael Long, former CEO of Healtheon Corp. and chairman of WebMD Inc. after its merger with Healtheon took over as CEO on January 7, 2002. He was joined by two other former Healtheon and WebMD executives: Jack D. Dennison, chief operating officer, and Lewis R. Belote III, chief financial officer. Joe F. Hanauer, former head of Coldwell Banker’s Residential Group, was named chairman of Homestore’s board of directors.
Realtor.com is slow and harder to search compared to our local IDX search
engine, but it is also nationwide. For San Joaquin Central Valley listings
(Placerville to Merced) stick with our
Metrolist Real Estate Listings
Company and Subsidiary Links
Categories: Companies listed on NASDAQ | Real estate companies of the United States |