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CoStar To Acquire Listing Site Homes.com


Inman Connect
CoStar, a commercial real estate technology giant that has recently been moving aggressively into the residential space, announced Wednesday it’s acquiring listing website Homes.com.
In a statement, CoStar said it is paying $156 million in cash for the site, which it described as “a well-recognized residential property listing and marketing portal that supports over 500,000 residential agents and brokers in the home sale process.”
Andy Florance
CoStar founder and CEO Andrew Florance added in the statement that “we are excited to welcome the Homes.com team to the CoStar family.”
“We believe that the acquisition of Homes.com is highly complementary alongside Homesnap, the industry-leading workflow and marketing platform for residential real estate agents that we acquired in December last year,” Florance added. “The combination of Homes.com’s online portal and consumer traffic with Homesnap’s powerful mobile tools and highly effec ....

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citybizlist : Washington DC : CoStar Group to Acquire Residential Listing Site Homes.com for $156M


$156 million in cash.
Homes.com is a well-recognized residential property listing and marketing portal that supports over 500,000 residential agents and brokers in the home sale process. Approximately 5 million people visit the Homes.com website each month to search nearly 1.8 million residential property listings. Homes.com provides advertising and marketing services to residential brokers and agents based on listing feeds that cover more than 90% of all Multiple Listing Services (MLS) subscribers in the United States. The company is headquartered in Norfolk, Virginia.
“We are excited to welcome the Homes.com team to the CoStar family,” said
Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. “We believe that the acquisition of Homes.com is highly complementary alongside Homesnap, the industry-leading workflow and marketing platform for residential real estate agents that we acquired in December last year. The combination of Homes.com’s ....

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