{"id":4017,"date":"2023-02-22T16:15:17","date_gmt":"2023-02-22T16:15:17","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/02\/22\/costar-says-it-will-not-acquire-realtor-com\/"},"modified":"2025-03-13T02:49:23","modified_gmt":"2025-03-13T02:49:23","slug":"costar-says-it-will-not-acquire-realtor-com","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/02\/22\/costar-says-it-will-not-acquire-realtor-com\/","title":{"rendered":"CoStar says it will not acquire Realtor.com"},"content":{"rendered":"\n

The hubbub over CoStar<\/strong>\u2019s potential acquisition of Realtor.com<\/strong> parent company Move Inc.<\/strong> from News Corp<\/strong> was apparently much ado about nothing. The commercial real estate giant announced Tuesday during its fourth-quarter earnings call<\/a> with investors that \u201cat this point, CoStar Group is not acquiring Realtor.com.\u201d<\/p>\n\n\n\n

Florance also expressed the appreciation he had for Move Inc., stating: \u201cWe are confirming here at this point CoStar Group is not acquiring Realtor.com. We have tremendous respect for the people behind Realtor.com and for the National Association of Realtors<\/strong>.\u201d<\/p>\n\n\n\n

Instead, CoStar CEO Andy Florance told those listening to the call that the firm will focus on building out and improving its Homes.com<\/a><\/strong> business.<\/p>\n\n\n\n

\u201cOur planned investment into marketing to drive traffic to Homes.com will increase later in the year as we approach the point where we are ready to monetize Homes.com,\u201d Florance said on the call Tuesday evening. \u201cWe continue to believe that Homes.com’s business model and our principals are well aligned with the interest of NAR members and real estate agents generally.\u201d<\/p>\n\n\n\n

According to CoStar, the number of unique visitors to Homes.com in January had grown 130% year over year.<\/p>\n\n\n\n

In late January, news broke<\/a> that CoStar was in talks with News Corp to acquire Move Inc. for a rumored $3 billion. And, just 10 days ago, New Corp stated in its fourth quarter earnings report that it was still \u201cactively engaged in discussions with CoStar Group about a potential sale of Move.\u201d<\/p>\n\n\n\n

On Tuesday, however, News Corp state that it \u201cwill continue to actively assess opportunities to support the company\u2019s strategy to optimize the value of its digital real estate services segment and otherwise maximize shareholder value.\u201d<\/p>\n\n\n\n

Responding to a question about whether or not CoStar would consider bolstering their residential business through acquisitions, Florance said: \u201cI don\u2019t think you can rule anything out.\u201d <\/p>\n\n\n\n

\u201cI think we are very fortunate to have a very viable organic path,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

CoStar will not acquire Realtor.com, but will focus on its Homes.com business instead, according to CEO Andy Florance.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nCoStar says it will not acquire Realtor.com - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"CoStar will not acquire Realtor.com, but will focus on its Homes.com business instead, according to CEO Andy Florance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2023\/02\/22\/costar-says-it-will-not-acquire-realtor-com\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CoStar says it will not acquire Realtor.com\" \/>\n<meta property=\"og:description\" content=\"CoStar will not acquire Realtor.com, but will focus on its Homes.com business instead, according to CEO Andy Florance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2023\/02\/22\/costar-says-it-will-not-acquire-realtor-com\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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