Houses.com has entered into a definitive joint venture agreement with Bayview Asset Management, LLC. Bayview is a real estate investment and mortgage firm with headquarters in Coral Gables, Fla. The transaction provides Houses.com capital and resources to elevate its brand, add product features, and scale consumer traffic and revenues.
The joint venture is expected to position Houses.com to seize opportunities emerging from online real estate growth. Borrell Associates reports more than $15 billion was spent in 2013 on online real estate advertising in the U.S. The total market for real estate advertising in 2014 is projected to exceed $27 billion.
Houses.com has more than two million annual visitors and more than five million market-rate and distressed property listings. Its real-time feeds from more than 100 data sources enable users to view a comprehensive selection of homes and connect with real estate professionals.
“We are dedicated to becoming the definitive marketplace for single-family houses and a leading consumer brand in the massive, growing online real estate market,” said Richard Swerdlow, CEO of Houses.com. “This joint venture will enable us to leverage our brand and acquire traffic and qualified real estate leads. Our differentiated value proposition – real-time connections to a nationwide network of real estate professionals, extensive inventory selection, and unique marketplace approach – gives Houses.com a prominent seat at the table among consumers’ best choices for finding homes.”
As a licensed brokerage company, Houses.com participates as both a publisher in the $15 billion annual market for online real estate advertising and as a broker in the $990 billion residential real estate market. Houses.com showcases houses for sale, rent and vacation, along with foreclosures, auctions, homes for seniors, new construction, and rent-to-own properties. It is curating more than 250,000 housing communities on the site, giving holistic views into quality of life and real estate opportunities in these communities.
As the category domain name for single-family homes, Houses.com is expected to benefit from significant organic search traffic, in addition to paid traffic, attracting qualified homebuyers and generating high-quality leads. It provides a comprehensive marketplace for consumers and a well-branded marketing channel for real estate professionals, banks, hedge funds, and other inventory partners.