Industry NewsTechnology

Online real estate merger mania

Consolidation to bring 'excitement' to the industry
Published on Jul 29, 2004

SAN FRANCISCO–Real estate consolidation is not just for the brick-and-mortar crowd, said Steve Ozonian, national home-ownership executive at Bank of America. "Now you're going to see it occurring in the online space," said Ozonian, former president of Realtor.com and a former RE/MAX senior executive. Ozonian spoke during a "Trend outlook and key differentiators" panel today at Inman News' Real Estate Connect 2004 conference in San Francisco. Jim Steele, president of worldwide operations for Salesforce.com, and Mike McCarthy, general manager for Ditech.com, also participated on the panel. As this online jockeying heats up, the big players "have to start making some bets and they have to start taking some stake in how that progress is moving along," Ozonian said. It's no surprise that LendingTree is gunning for a large slice of the real estate pie, he said. Other big companies have thrown their weight into real estate before, and these companies have left an indelible ...

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