“Our powerful audience is increasingly a result of being part of News Corp. We expertly leverage trusted brands — including The Wall Street Journal, Barron’s, MarketWatch, The Sun U.S., The New York Post, and most recently, the California Post — to strategically extend our brand and content reach to generate high-intent buyers for the listings on our site,” Eales wrote.
He also noted that this quarter marked Realtor.com’s fifth consecutive quarter of year-over-year revenue growth, with revenue jumping 10% annually during Q2.
Company focus on AI
Eales highlighted his company’s focus on AI and its launch of the RealPro Select program for agents.
“We are executing exceptionally in our growth businesses, most particularly our seller business which is delivering the highest intent audience in the industry to listing agents,” Eales wrote.
Eales also weighed in on the private listing debate, writing that his firm wants to be part of the effort to “strengthen the open marketplace.”
“In stark contrast, some competitors operate closed platforms that intentionally limit consumer choice — restricting access to a handful of agents, steering users toward their owned mortgage services or discouraging independent buyer agency,” Eales wrote. “These practices fundamentally reduce the transparency, efficiency and integrity of the residential real estate marketplace, and ultimately harm American sellers and buyers alike.”
According to Eales, this is why Realtor.com launched Realtor.com+ in January.
“If Realtor.com was by the industry, Realtor.com+ is for the industry. Built in close partnership with Realtors & MLS leaders, Realtor.com+ reinforces the MLSs essential role as the backbone of organized real estate,” he wrote. “It strengthens data accuracy and attribution, elevates agent and MLS branding, and — most importantly — delivers the AI-driven capabilities and member tools that MLSs need to protect their data and lead the industry forward.”
Looking ahead, Eales said he expects his firm’s focus on “customers and the integrity of the industry” will fuel Realtor.com’s future growth.
Overall, News Corp., the parent company of Move, reported a second quarter revenue of $2.36 billion, up 6% from a year prior, and a net income of $242 million for the quarter, down 21% from a year ago.
