In our interview with Jason Helfstein of Oppenheimer as part of our Internet Services Report he mentioned Move Inc. and why they stand out from the rest;
Mr. Helfstein: Move owns Realtor.com. They’re the leading real estate Website by a significant factor. They’ve made a number of changes over the last two years to position the company much more aggressively from a content Website standpoint and they have an exclusive relationship with the National Association of Realtors (NAR), which basically gets them the best data. So really if you’re a consumer and you’re looking to buy a house, that’s the place you go. They’ve got very strong relationships with agents and brokers around the country, and while all the listings are free, they then try to convince those agents and brokers to kind of upsell. They also have the leading CRM or client relationship management software for real estate brokers and agents, and I think there is an opportunity for them to tie that into the Website. So just like Google, you only pay, as in advertising, if somebody clicks, you can track the effectiveness, and I really believe there is an opportunity for that to happen over the longer term in the real estate sector with Move’s Website. In the short term, are they feeling pain because of the real estate cycle? Of course, but in the most recent quarter, the core part of their business was down just a few percent, and that’s pretty impressive, given what’s going on.
Internet is cyclical but the good news is that, in some cases,it is less cyclical than other areas of advertising. Search advertising and e-commerce are both taking market share so they aren’t seeing the negative trends that exist in the more traditional advertising market.
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