Join us at Inman Connect Las Vegas, July 30-Aug. 1, 2024, where the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed.
The dispute between Realtor.com and CoStar’s Homes.com has led to a lawsuit filed by Realtor.com parent Move, Inc. in U.S. District Court in California. The lawsuit alleges that a former Move employee, now working at CoStar, stole trade secrets that contributed to Homes.com’s growth as a leading portal in the industry.
Move, Inc. claims that Homes.com’s assertion of being the second-largest portal after Zillow is false, with Realtor.com actually holding that position in terms of traffic and impressions.
The lawsuit accuses the former employee, James Kaminsky, of accessing confidential information from Realtor.com and providing it to CoStar to increase web traffic for Homes.com. CoStar has dismissed the lawsuit as a distraction, stating that Homes.com has surpassed Realtor.com in terms of portal ranking.
The legal battle sheds light on the intense competition in the real estate portal sector, with web traffic being a crucial factor for success. Realtor.com has consistently challenged CoStar’s claims and is determined to defend its position in the market.
The ongoing feud between Realtor.com and Homes.com highlights the importance of accurate data and fair competition in the real estate industry. The lawsuit underscores the significance of web traffic as a key metric for success in the portal market.
Move is pursuing unspecified damages through a jury trial. You can access the full complaint by clicking on the following link: Read the full complaint here. For further inquiries, you can email Taylor Anderson.