This week news came that Move Inc. (operator of realtor.com and a News Corp. subsidiary) would be ponying up more than $200 million to buy Austin-based lead generation firm Opcity — and that the company would also get a brokerage license.
The Austin American-Statesman reported Wednesday that Opcity, which touts a platform it says turns online inquiries about properties into transactions at rates 3-5 times the industry average, is used by more than 40,000 agents and brokerages, including Keller Williams, ReMax, Century 21 and Berkshire Hathaway.
Inman reported that Move Inc. would acquire a brokerage license along with the transaction (Opcity has one), but a spokesperson said the company didn’t plan on getting into the business of representing home buyers and sellers. I.E: competing with Realtors. (more…)