Industry News

Real estate matching service posts profit

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HomeGain today announced it achieved "significant growth and profitability" last year. The Emeryville, Calif-based company said it increased its revenue 50 percent, signed up more than 200,000 prospective home buyers and sellers, and added 11,500 real estate agents to its service last year. The company is privately held and doesn't disclose its financial results in hard numbers. "Consumers increasingly look to the Internet as their first source of information and education about the purchase or sale of a home. Each month, millions of consumers look to to help them select a real estate agent, research local home listings and link up with lenders, movers and other related service providers," said Glenn Houck, SVP of agent success for HomeGain. The company attributed its results to more people using the Internet for help buying or selling a home, a "dramatic increase" in the number of real estate agents who use the Internet to generate business and the company's own onl...