Careers at Move
Move’s mission is to empower people by making all things home simple, efficient, and enjoyable.
In 1993 entrepreneur Stuart Wolff founded InfoTouch Corporation with the goal of creating an interactive network of kiosks that provided real estate information. The kiosks would serve to help consumers in their search for homes. In 1996 the company began developing the technology necessary to build and maintain various real estate-related websites.
That same year InfoTouch formed a subsidiary that would be used to house one of the websites, called RealSelect. It partnered with the National Association of Realtors (NAR), hosting and managing the listings of realtors in NAR’s membership nationwide. It then spent a few years raising capital, making its website content more robust, and marketing its offerings to real estate professionals.
In 1999 RealSelect’s name was changed to Homestore and it went public, raising $140 million. It also expanded its data source beyond that of NAR, forming agreements with numerous brokerages and Multiple Listing Services (MLSs) to obtain direct feeds of listings. In 2006, Homestore changed its name to Move, Inc. In 2014 it announced it was being acquired by News Corporation.
Benefits at Move
Business model of Move
Move has a multi-sided business model, with two interdependent customer segments that are both needed in order to operate: realtors that provide property listings and homeseekers who view them.
Move offers three primary value propositions: convenience, accessibility, and brand/status.
The company offers convenience by making life easier for its customers. While it operates one reportable business segment, its offerings can broadly be divided into two groups: Consumer Advertising and Software and Services. Each provides an end-to-end solution as follows:
- Consumer Advertising – Provides consumers with the tools, information, and professional expertise needed to make informed decisions in the areas of home selling, buying, financing, and renting.
- Software and Services – Provides real estate professionals with resources to assist them throughout their process, including advertising systems, productivity tools, and lead management tools.
Convenience is also provided by the fact that approximately 90% of the active listings on Realtor.com (the flagship site) are updated every 15 minutes, with the rest of the listings updated daily.
The company creates accessibility by providing a wide variety of options. It houses a network of real estate brands that serve different purposes for different consumer needs (moving, senior housing, renting, etc.). They are: Realtor.com, Doorsteps, Moving.com, SeniorHousingNet.com, ListHub, TigerLead, Top Producer Systems, FiveStreet, and Reesio.
The company has established a powerful brand due to its success. It touts itself as the leader among online real estate information providers, providing access to listings for over 100 million properties in the U.S. as well as properties in 36 other countries. It serves more than 30 million people per month, and has the deepest consumer engagement of all real estate sites, with visitors spending over 700 million minutes per month on its platform. It maintains advertising relationships with over 400,000 real estate professionals representing over 800 Multiple Listing Services, as well as several prominent display advertisers. Lastly, it has won many honors, including the following in 2015 alone:
- The Users’ Choice Tabby Award in the “Utilities & Tools” category for its rentals app
- Two Gold and two Silver W³ Awards in for its digital video series
- An Inman Innovator Award for its “New York City Bus Tour” site feature in the category of “most innovative marketing strategy, service or technology”
Move’s main channel for consumers is its website, while it reaches out to real estate professionals through its direct sales team. The company promotes its offering through its social media pages, advertising, and participation in trade shows and conferences.
Move’s customer relationship is primarily of a self-service, automated nature. Customers utilize the service through the main platform while having limited interaction with employees.
The company’s website provides three sections that provide answers to frequently asked questions: Realtor.com Resource Center, Homebuilders Resource Center, and Rental Resource Center. That said, there is a personal assistance component in the form of phone and e-mail support.
Move’s business model entails maintaining a common platform between two parties: consumers seeking homes and real estate professionals. The platform includes its website and mobile apps.
Move does not maintain a formal partnership program. That said, it forms strategic alliances from time to time in order to enhance its offerings for customers. Examples of these include the following:
- In July 2016 REA Group announced a partnership with Move in which the two would join to launch a global property network featuring listings from REA’s portals and Move’s Realtor.com.
- In November 2015 Apartments.com announced a partnership with Move through which it would exclusively power Move’s apartment community listings with advertising content from Apartments.com and ApartmentFinder.com.
Move’s main resource is its proprietary software platform, which serves over 30 million people monthly.
It depends on human resources in the form of technology employees to maintain and update the platform and customer service personnel to provide support. Lastly, it places a high priority on intellectual property with at least nine patents issued in the United States.
Move has a cost-driven structure, aiming to minimize expenses through significant automation and low-price value propositions.
Its biggest cost driver is sales/marketing costs, a fixed expense. Other major drivers are in the areas of administration, product/website development, and cost of revenue, a variable expense that includes the costs of operating and hosting its sites and mobile apps.
Move has one revenue stream: revenues it earns from the fees paid by real estate professionals to advertise their listings on the company’s platform.
info: Ryan O’Hara earned a Bachelor of Arts degree in Economics from Stanford University and an MBA from Harvard Business School. He previously served as President of Content, Distribution & Sales at The Madison Square Garden Company and as President and CEO of Topps.
info: Bryan Charap earned a Bachelor’s degree from the University of Puget Sound. He previously served as a Senior Financial Analyst, VP, Financial Planning & Analysis and Treasurer, and SVP, Finance at Move. He also served as a Business Analyst at Eddie Bauer.
info: Tapan Bhat earned a Bachelor’s degree from the University of Michigan and an MBA in Marketing from Georgetown University. He previously served as Chief Product Officer of Lithium Technologies and as SVP, Integrated Consumer Experience at Yahoo!
info: Nate Johnson earned a Bachelor‘s degree from Middlebury College and a Master’s degree from University of Michigan. He previously served as Vice President of Marketing and Growth & Engagement at Path and as Head of Consumer Marketing at LinkedIn.
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