Star bright, starlight
- By Wendy Broffman
- Published January 2016
new brand than to maintain one," Florance told analysts in October.
"(CoStar) has really taken on multifamily by storm," said Carr.
"Apartments.com is now the most visited site, the most time on site, the most page views, the most, the most, the most. And the same is true around Finder.
"We completely transformed and evolved Apartment Finder to be equally purpose-built for the renter and a specific audience and we have some incredible new tools that are really geared for people looking for a great deal and a lot of cost calculators and a transparency in the pricing that people will be stepping up to in the rental process," she said.
New and next
As the vanguard in a rapidly growing business sector, CoStar has moved the bar on providing real-time data to both renters and operators, but their competitors are moving rapidly to respond to their challenge.
Zillow has been acquiring rental ILSs over the past several years. Other competitors include a number of new start-ups, several of which CoStar has sued for allegedly stealing its data.
Wall Street Journal-owned Move Inc, which owns single-family and CRE sites, is also a competitor.
However, in November, CoStar Group announced an agreement to exclusively power its apartment listings of communities with 50+ units on the websites owned and operated by News Corp subsidiaries Move Inc, Realtor.com, move.com and doorsteps.com.
"The partnership allows our advertising services to provide more exposure to our property managers and owners and expand reach to different types of renters in the market," said Carr.
Finally, when asked by analysts in Q3 if CoStar was planning more M&A activity, Florance said there were opportunities, but nothing specific.
He did note that any deal would have to be correctly priced so that CoStar could capture the value itself, not give it to someone who is selling their business.