Yesterday, Move.com announced that they have acquired real estate syndication service, ListHub for $13 million in cash. ListHub was founded in 1999 and say they syndicate real estate listings to over 70 real estate sites. They have approximately 21 employees and did revenues of $1.7 Million.
“Online real estate today can be a fragmented experience for consumers and real estate professionals, and the related content is often inaccurate,” said Move, Inc., Chief Executive Officer, Steve Berkowitz.
Listing syndication is the future of real estate advertising. For the rental market for example, over 90% of all renters search across multiple rental sites looking for their ideal rental. Advertisers need one place where they can syndicate their listings to multiple points on the web.