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Big real estate implications in Google IPO

One of Web's greatest lead sources to get public shareholders

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Patrick Duffy, a real estate agent with @Properties in Chicago, uses search engine giant Google to score sales leads off the Web. He, along with the tens of thousands of other brokerages and sales agents who use Google, will be affected by the company going public. Google, launched six years ago by graduate students Larry Page and Sergey Brin, today filed the papers to start the process toward its long-awaited initial public stock offering. The Google IPO carries significant implications for real estate companies. Since most consumers now start their home searches on the Web, Google has become a leading source of online real estate leads. This already positions the company as a leader in the real estate industry, though seemingly a benign one. Mountain View, Calif.-based Google intends to raise up to $2.72 billion and list its shares either on the Nasdaq market or New York Stock Exchange. The company generated revenue of $962 million and earned a profit of $106 million in ...