Move Inc (Also affectionately known as REALTOR.com), was just sold to News Corp.
Here are the particulars.
While many will debate what this means, I would rather focus on what it does NOT mean. It is much more of a clear picture right now to see what this will NOT do.
So without further ado:
- It does not mean that Realtor.com will be promoted on Fox News Channel. That is a separate company. 20th Century Foz as opposed to News Corp.
- It does not mean that the REALTORS are more likely to get ownership of their trademark back anytime soon. It is now LESS likely.
- It does not mean that Move will be in a better position to take on Zillow.
- It does not mean that Rupert Murdoch likes REALTORS. (His company just saw a CHEAP buy relative to other unprofitable companies in the space **cough** Zillow**cough** in the space and they bought it at relatively fire sale prices.
- It does not mean that politically liberal minded REALTORS should boycott R.com
- It does not mean…well honestly much at all.
The bottomline is that we (the real estate industry) are now owned by a new entity, making R.com owned by a newspaper company MUCH more like HomeGain, which is owned by a Gannett/ other newspapers syndicate. Different master. Same plantation. The REALTOR Trademark is still licensed out to those who are not REALTORS. Just my .02