BrokerageIndustry News

RealEstate.com brokerage passes 1,000-agent mark

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Despite losses at its parent company, RealEstate.com's company-owned brokerage grew second-quarter revenue by 24 percent as it expanded into 14 markets and surpassed the 1,000-agent mark. RealEstate.com is an operating company of IAC, which is planning to spin the business off along with online lender and lead generator LendingTree and other real estate-related businesses to be grouped under the umbrella of Tree.com. In addition to a real estate brokerage with a slightly unwieldy name -- "RealEstate.com, Realtors" -- RealEstate.com operates a Web portal that offers nearly 2 million listings and valuations for 97 million properties. Although RealEstate.com shut down a subscription-based lead-generation program for agents in December (see story), the company still generates revenue through lead generation networks for real estate brokers and home builders. In releasing second-quarter results, IAC said revenue at RealEstate.com as a whole fell 47 percent from a ye...