AUSTIN, July 18 — Realtor.com, the second most-visited real estate listings platform in the United States, remains a pivotal asset in the digital property marketplace, commanding over 100 million monthly active users and a commanding share of U.S. listings data. Operated by News Corp subsidiary Move, Inc. from its Austin, Texas headquarters, the site traces its lineage to a closed network for the National Association of Realtors launched in 1995.
The calculus behind Realtor.com’s endurance is rooted in a strategic transformation that began in 1996, when it relaunched as a public website and began displaying Regional Multiple Listing Service (RMLS) listings. By October of that year, the database had surged from 32,000 listings in December 1995 to nearly 400,000.
The site rebranded as Spot Realtor.com in November 1996 under the management of RealSelect—later known as Homestore—in partnership with NAR. The broader stakes for the platform became evident in 1997, when it locked in exclusive online real estate listings partnerships with USA Today, NBC, and America Online (AOL).
A decade of expansion and ownership shifts
By 1999, Realtor.com had amassed over 1.3 million listings and introduced virtual tours, solidifying its status as the largest real estate listings website. Homestore went public in August 1999, raising $140 million. The site’s trajectory took a decisive turn in September 2014, when News Corp acquired parent company Move for $950 million.
At that time, Realtor.com was drawing 34.1 million unique visitors each month. Morgan Stanley later valued the platform at $2.5 billion in 2016.
Partnerships with Airbnb and Yelp added to its reach. The company also moved its physical operations from San Jose to Santa Clara, California, in 2016, and briefly owned lifestyle sites Remodelista and Gardenista before selling them back in June 2019. Realtor.com now claims to display 97 percent of U.S. listings and covers 80 countries.
Revenue is generated through referral-based solutions, leads, and advertising sold to agents, brokers, and other industry players. The site is licensed by the National Association of Realtors.
Leadership changes and what they signal
The corner office has seen a series of turnovers that signal the company’s shifting strategic priorities. CEO Ryan O’Hara departed on June 18, 2019, with Tracey Fellows stepping in as acting CEO. David Doctorow assumed the role in January 2020.
The most recent change came in June 2023, when Damian Eales took over as CEO. Each transition has occurred against the backdrop of an increasingly competitive digital listings environment, where platforms vie for agent and consumer loyalty.
What this signals for the broader real estate technology landscape is a continued consolidation under deep-pocketed corporate parents. News Corp’s ownership provides Realtor.com with resources to fend off rivals, while its NAR licensing ties give it unique access to MLS data. Strategically, the platform’s ability to convert its massive user base into revenue through agent leads will remain central to its competitive calculus in the coming quarters.
