As the category leader, Move and Realtor.com remain committed to providing a world-class search experience that will revolutionize the American dream of homeownership and extend our position as the leader in online real estate search.
LOS ANGELES (PRWEB) October 27, 2008
"The redesigned Realtor.com offers a more inviting, easy-to-navigate and personalized search experience that's complemented with the right tools, resources and information," said Lorna Borenstein, president of Move. "Despite one of the most challenging real estate markets we've experienced, second quarter user registrations increased by 9% and the number of consumers electing to receive email alerts has doubled [over 3.3 million delivered since Beta], compared to the first quarter of this year. This increase in engagement after the Beta release confirms we've made the right enhancements to the site, encouraging potential home buyers to remain onsite longer as they access more real estate listings, resources and information. As the leader in online real estate, we feel a special responsibility to keep users engaged as we continue to deliver the best online tools available."
Beta tests show consumers are more actively involved with the new site's search tools and features as compared to those offered on the "classic" site. On the newly designed search results pages, visitors are viewing 40% more properties and clicking through 12% more often to view property details. Compared to the "classic" version, 45% more visitors downloaded informational brochures on properties of interest and forward listings to friends 10% more often. During the Beta test phase, visitors were 10% more likely to click on to a broker or agent's Web site and 37% more likely to email an agent or broker for more details.
"The new Realtor.com sets the online standard in real estate search and offers Realtors and advertisers the most effective marketing platform available," said Errol Samuelson, president of Realtor.com. "By making it even easier for consumers to find what they need in the context of Realtor.com's comprehensive listing database, we've significantly improved visitor involvement within the site and delivered greater value to our advertisers."
The new Realtor.com includes a complete redesign of the home page, search results pages and listing detail pages. Landing on the redesigned Realtor.com homepage, visitors will immediately notice a new look and feel featuring a warmer color palette and streamlined design centered around a dynamic photo carousel and easy-to-use Find Homes search box. Integration of neighborhood data that delivers hyper-local information on 55,000 communities, a newly added home valuation feature that includes sold data directly from MLSs, and instant access to tools and trends have also taken up residence on Realtor.com's new homepage.
Throughout the site, newly integrated intuitive search features have reduced the number of clicks consumers take as they search, while improved navigational features swiftly power them through Realtor.com's four-million-plus listings, the largest collection of online real estate listings. Listings will now be "time-stamped" for freshness and feature more, higher-quality super-sized photos that are 140% larger than on the "classic" site. Virtual video tours and photo galleries that give an "insiders view" of a property are now easier to find, while greatly enhanced personalization options offering convenient and timely alerts better enable consumers to remain current as new information or listings become available.
As a result of the design enhancements to the consumer search experience, Move has created a more valuable and efficient advertising vehicle for Realtors® and consumer media advertisers. The company is now better positioned to capture revenue from advertisers shifting their marketing spend towards the Internet. Industry trends and studies show advertising dollars have been consistently shifting online, away from traditional media from 2004 through 2007, with newspapers and broadcast TV losing $890 and $720 million per year respectively. Industry analysts predict US Internet ad spending increases will remain in positive territory, "in the mid-teens or higher through 2011."
"We're pleased and excited to give consumers an online real estate resource they can trust that's exciting, engaging and relevant," Borenstein says. "As the category leader, Move and Realtor.com remain committed to providing a world-class search experience that will revolutionize the American dream of homeownership and extend our position as the leader in online real estate search."
REALTOR.com®, where the world shops for real estate online, is operated by Move, Inc., (NASDAQ: MOVE) and is the official Web site of the National Association of REALTORS®. Ranked as the #1 homes-for-sale site, REALTOR.com® currently offers potential home buyers access to over four million property listings, as well as the most brokers and agents. It also provides REALTORS® and the home sellers they represent with the Internet's largest real estate marketplace, reaching more than 4.88 million consumers in September 2008. Agents and companies have the power to customize REALTOR.com® resources to maximize their brand and productivity.
REALTOR® and REALTOR.com® are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS®. REALTOR® is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. All other trademarks appearing above are the property of Move, Inc., or of their other respective owners.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ:MOVE) is the leader in online real estate with 7.1 million monthly visitors to its online network of websites. Move, Inc. operates: Move.com®, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com®, the official Web site of the National Association of REALTORS®; Welcome Wagon®; Moving.com; SeniorHousingNet™; and TOP PRODUCER® Systems. Move, Inc. is based in Westlake Village, California, and employs more than 1600 individuals throughout North America. For more information: http://www.move.com.
This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
 Harris Poll commissioned by Move, Inc. 5/23/08
 Reasons to Shift Offline Spend Online, eMarketer, 10/6/06
 US Online Advertising: Resilient in a Rough Economy, eMarketer, 8/19/08
 comScore Media Metrix, September 2008