SANTA CLARA, Calif., July 28, 2016 /PRNewswire/ -- Realtor.com®, a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., today announced the expansion of realtor.com/international as part of a newly formed News Corp global property network. Created by News Corp, REA Group [ASX: REA] and Move, the global property network is the world's largest global real estate listing community, offering more than three million listings from 56 countries.
The network consists of 12 leading international real estate sites, attracting more than 200 million visits globally each month.
Users of realtor.com® and realtor.com/international already have access to both the most comprehensive inventory of for-sale real estate listings in the United States -- with approximately 1.5 million for-sale U.S. listings -- and international properties from 45 countries in multiple languages and local currencies. The network further expands the global footprint to 56 countries on realtor.com/international with plans to showcase listings from sites in Australia, France, Germany, Hong Kong, Indonesia, Italy, Luxembourg, Macau, Malaysia, Singapore and Thailand as well as News Corp's Mansion Global and India-based PropTiger.
"This is an important step forward in the evolution of real estate. We're part of a global community of international property sites that enable people to search with confidence for real estate properties and information all around the world," said Ryan O'Hara, CEO of Move. "As the U.S.'s largest and most comprehensive source of for-sale listings, we are delighted to be a formative part of this new global collective as we expand our unmatched access through technological innovation and enhanced cooperation across borders."
Robert Thomson, chief executive of News Corp said: "The global property network being launched today demonstrates the power of combining data across the News Corp digital real estate portfolio, and provides further evidence that News Corp is the largest digital property business in the world.
"By combining the listings - and the talent - of REA Group, realtor.com®, and other partner sites, we are creating an opportunity to enhance listings for consumers and customers around the world, while enabling collaboration with News Corp's existing stable of real estate businesses and partners, including Mansion Global and PropTiger. With more global properties than any other source, it's a capability that no competitor can match. We are creating a whole new world of property for consumers, and premium audiences on a global scale for advertisers," Thomson said.
With interest in foreign investment on the rise around the world, providing a common search experience across borders is a significant advantage for U.S. home searchers looking to invest abroad. Globetrotting U.S. consumers might be looking to Paris, Hong Kong or Melbourne for an opportunity, and this global property network enables them to view and compare more properties more easily using realtor.com/international. International searchers can enjoy a familiar search experience for global properties based on their location, including international market top searches. For many of the markets in the global property network, this represents the first time consumers can explore properties all over the world, starting from a site they know and trust.
Putting the technology and relationships in place to connect buyers, agents and properties is an important leap, but working with a member of the National Association of REALTORS® (NAR) – particularly one certified in international transactions – is just as critical. Real estate processes and protocols differ widely across borders, from parameters as simple as bedroom count vs. total room count, to as complex as representation, financing, ownership and international taxation. Realtor.com® has worked closely with the NAR over the past several years to advance professional resources that help agents become conversant in international property transactions.
"As the largest and most established international player in the global property network, the National Association of REALTORS® is focused on expanding international real estate business opportunities and bringing more buyers and sellers together across continents," said NAR President Tom Salomone. "The enhanced realtor.com/international website together with NAR's network of Certified International Property Specialist designees will enable more consumers to take advantage of globalization's powerful impact on real estate markets and successfully sell their home to an international buyer or purchase a property abroad."
The full international property inventory is now available on realtor.com/international, in a new user experience accessed through the beta button on the site. Additional features and enhancements are planned for the months ahead, and the integration of U.S. listing content into the beta site is planned for this winter.
Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive database of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. As the official site of the National Association of REALTORS®, realtor.com® pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit realtor.com®.
About REA Group
REA Group Limited (ASX:REA) is a multinational digital advertising business specializing in property. REA operates Australia's leading residential and commercial property websites, realestate.com.au and realcommercial.com.au, European sites casa.it, atHome.lu and immoRegion.fr, Chinese property site myfun.com and a number of property portals in Asia via its ownership of iProperty Group. REA also has a significant shareholding in U.S-based Move, Inc.
This document contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory and other factors. More detailed information about these and other factors that could affect future results is contained in News Corp's filings with the Securities and Exchange Commission. The "forward-looking statements" included in this document are made only as of the date of this document and we do not have any obligation to publicly update any "forward-looking statements" to reflect subsequent events or circumstances, except as required by law.
Realtor.com® – Christie Farrell – 408-558-7115 – [email protected]