Technology

Move: Leads to real estate pros up 50%

Realtor.com operator plans to spend more on sales and marketing

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Realtor.com operator Move Inc. sent its real estate customers about 50 percent more consumer leads in the year ending June 30 as it did the year before, the publicly-traded company said in a regulatory filing today. Move reported second quarter revenue was up 17 percent from a year ago to $57.5 million — the biggest quarterly year-over-year growth since 2006 and the seventh straight quarter of quarter-to-quarter growth. Consumer advertising products accounted for 78 percent, or $44.6 million, of that revenue, rising 8 percent year over year. That rise was mainly due to increases in listing ads on realtor.com and the company’s “Connection for Co-Brokers” product, which saw revenue rise 134 percent year over year and 24 percent quarter to quarter, as well as from Move’s October 2012 acquisition of Relocation.com. The revenue jump was partially offset by revenue declines from Move’s featured products, including Featured Homes, Featured Area Community and Buyer Assi...