Realtor.com operator Move Inc. reported a $1.2 million second-quarter profit despite a slight decline in revenue from the same period a year ago.
The 2 percent year-over-year decline in revenue, to $48.9 million, was partly the result of a decline in subscribers to the company’s lead generation and marketing tool, Top Producer 8i, the company said.
Top Producer’s Market Snapshot and Market Builder products also brought in less revenue "due to reduced spending by real estate professionals," the company said, and revenue from enhanced listings also dropped.
Move has begun pilot tests in seven regional markets of a new ad service, "Connection for co-brokerage," in which unbranded lead forms are placed next to "unenhanced" Realtor.com listings when listing brokers haven’t paid for enhancements such as additional photos. Leads generated by the forms are provided to buyer’s agents who have committed to responding promptly.