RealEstate.com today announced a phase-out of its subscription-based lead-generation business for agents. While the company will continue to offer services to existing clients, it will not add new subscribers, said Bret Violette, RealEstate.com president. The decision does not impact the broker-based lead-referral service offered by RealEstate.com's parent company, LendingTree. There are now about 3,400-3,500 agents participating in the company's subscription-based lead-generation business, he said. About 50 employees have serviced the subscription-based leads business, and roughly half of those employees may face layoffs while the other half may be able to find other positions within the InterActiveCorp family of companies, such as LendingTree, he said. While the slowing housing market may have contributed to the decision, Violette said it was more a matter of overall economics with the program. "Economically we weren't able to scale the business to become profitable," he said. "It's ...
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