Realtor.com Sees Big Jump in Visitor Traffic

Realtor.com had a great second quarter. The company's parent, News Corp, shared its financial results. Visitor traffic was a high point for Realtor.com.

The company made $143 million in revenue. This is a 10% increase from last year. Realtor.com's CEO, Damian Eales, said this was due to new services and more people visiting the site.

Strong Performance

Realtor.com did well in the second quarter. The company's visitor traffic was high. According to Comscore, Realtor.com had 3.4 times more visitors than Homes.com. It also had 2.3 times more visitors than Redfin.

The company is catching up to Zillow. It closed more than half the gap in visitor traffic over the past 18 months. Realtor.com remains the number one site for audience engagement. It had 4.8 visits per unique visitor.

News Corp's Results

News Corp, the parent company of Realtor.com, reported its financial results. The company made $2.36 billion in revenue. This is a 6% increase from last year. News Corp's net income was $242 million. This is a 21% decrease from last year.

Focus on AI

Realtor.com is focusing on artificial intelligence (AI). The company launched a new program called RealPro Select for agents. AI is a type of computer science that helps machines think like humans.

The company is using AI to help agents and buyers. It wants to make the home-buying process easier and more efficient. Realtor.com's CEO said the company is executing well in its growth businesses.

Private Listing Debate

There is a debate about private listings in the real estate industry. Some companies operate closed platforms that limit consumer choice. Realtor.com's CEO said this is not good for the industry.

He said these practices reduce transparency and efficiency. They also harm American sellers and buyers. Realtor.com launched a new service called Realtor.com+ in January.

Realtor.com+

Realtor.com+ is a new service that helps the real estate industry. It was built in partnership with Realtors and MLS leaders. MLS stands for Multiple Listing Service. It is a database of homes for sale.

Realtor.com+ reinforces the MLS's role in the industry. It strengthens data accuracy and attribution. It also elevates agent and MLS branding. The service delivers AI-driven capabilities and member tools.

Looking Ahead

Realtor.com's CEO said the company will focus on customers and the integrity of the industry. He expects this focus to fuel the company's future growth. The company will continue to use AI and other technologies to improve the home-buying process.

The real estate industry is changing. Companies like Realtor.com are using new technologies to improve the way people buy and sell homes. As the industry continues to evolve, companies that focus on customers and innovation will be the most successful.