BG: When you combine the assets and resources and capital that are coming into the equation through News Corp with the positive momentum realtor.com® and Move have had over the last several months, and add to that the investment NAR has made in augmenting realtor.com®’s ‘Accuracy Matters’ campaign with our own consumer awareness ads, you have a real powerhouse. Even before the acquisition, realtor.com® was getting positive results and seeing strong improvement. Now, with what News Corp brings to the table, there is huge opportunity for realtor.com® and NAR members to benefit.
The digital real estate space is very important to our industry and to organized real estate. If you take the exposure that homebuyers and sellers will now get and add it to the accuracy of our data over every other source in this industry—due to how often we replenish and update our information—you’re creating multiple positive effects.
And finally, what does Rupert Murdoch’s investment/interest in Move say about the future of the real estate market in general and what impact will this have on consumer confidence in housing?
BG: I don’t put it on one individual as much as I do News Corp as a whole and the vast resources it brings to the digital real estate play. When you digest what News Corp as a whole is bringing, it’s more than one man. Look at what News Corp is doing in Australia with the leading property website REA. They are a major player in that market. When you look at the technology that News Corp will be able to leverage along with the consumer experience that will be provided, it’s a powerhouse. This also positions us extremely well in the global market. NAR has 90 bilateral real estate partners around the world who we already work with.This will now expand our global effort and bring worldwide buyers to our members.
SB: We can probably anticipate massive marketing opportunities in the industry for agents and brokers, as well as enhanced lead generation and management tools. News Corp sees a space that has lots of room for productivity increases, especially when it comes to better-quality leads for agents. It’s clear that we are stronger together than we are apart, adding value to each other and the REALTOR® brand.
RISMedia editors Maria Patterson and Beth McGuire contributed to this report.
Stay tuned to RISMedia for ongoing coverage of the Move acquisition.
