Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

Tree.com Inc. says it will close all of the field offices of its brokerage company -- RealEstate.com, Realtors -- by the end of the month, but will continue to operate RealEstate.com as a lead-generation network.Tree.com announced last month that its real estate brokerage posted an $11.9 million fourth-quarter operating loss as revenue fell 67 percent from a year ago.The company brought industry veteran Steve Ozonian on board as CEO of the RealEstate.com division in October. Ozonian is a former RE/MAX International Inc. executive who has held CEO positions at Prudential Real Estate Services, Realtor.com, and Help-U-Sell Real Estate.But in a regulatory filing this week, Tree.com said results from the first two months of this year convinced management team that "the difficult mortgage a...