Move, Inc. Acquires FiveStreet, Inc. to Enhance Lead Management Offerings Addition brings new competitive edge to platform of solutions for agents, agent teams and brokerages
SAN JOSE, Calif., Oct. 16, 2013 /PRNewswire/ -- Move, Inc. (NASDAQ: MOVE), the leader in online real estate, today announced the acquisition of FiveStreet, Inc., which provides a lead consolidation and response tool for agents, agent-teams and brokerages. FiveStreet joins Move's expanding platform of professional solutions, helping REALTORS® connect with consumers and deliver exceptional customer experiences.
FiveStreet's focus is on the first five minutes after a consumer contacts a REALTOR®. The company's software consolidates leads from over 40 lead providers including realtor.com® and other major real estate sites, and automates the process of rapidly responding to, assigning and distributing leads. It provides agents with a single unified dashboard, ensuring leads aren't lost or overlooked, and provides web and mobile tools for rapid response. FiveStreet already interfaces with Move's Top Producer® CRM platform, and integration with Move's TigerLead system is underway.
"This integration is a natural fit to our suite of professional products," said Steve Berkowitz, CEO of Move. "It connects the power of our lead generation solutions with an elegant system that helps agents, teams and brokers rapidly qualify and respond to leads, and then transfer key lead information to our Top Producer® and TigerLead systems for further follow-up. And, this system works not only with realtor.com® leads but also leads generated by our competitors. Agents are freed from the inefficiency of accessing multiple systems and dashboards to run their business."
"Timeliness and data accuracy are hallmarks of our service to buyers and sellers. FiveStreet helps our customers similarly respond in a timely manner, creating an outstanding, seamless consumer experience," he added.
The growth in online real estate is driving large increases in lead generation from numerous sources across web and mobile platforms. Speed in response time is critical to an agent's success, but often one of the most challenging aspects of the business. An industry study showed that as many as 75 percent of online leads are lost, and nearly one in four leads receives an average response time of eight hours.
"At FiveStreet, we addressed one of the most competitive aspects of an agent's business – securing that first connection – by designing a simple, elegant automated tool that not only coaches the agent, via prompts, through the simple best practices designed to help secure the connection, but also integrates seamlessly with the next steps in the process," said Rusty Klophaus, CEO and co-founder of FiveStreet. "We are working with Move in harmony toward our shared vision of simply and effectively facilitating the day-to-day aspects of a high performing agent's business practice in a systematic way. We're thrilled to be part of the powerhouse of productivity that Move is creating with its suite of integrated solutions."
FiveStreet launched in 2012 under the direction of founders Rusty Klophaus and Sebastian Traeger. Subsequent to the acquisition, the FiveStreet team will join Move as employees, continuing to expand the experience and integrate with existing Move offerings.
About Move, Inc.
Move, Inc. (MOVE), the leader in online real estate, operates: realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; TigerLead®; and TOP PRODUCER® Systems. Move is based in San Jose, Calif.
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.
SOURCE Move, Inc.