Latest news with #Homescom
CNA
a day ago
- Business
- CNA
Zillow sued by Homes.com owner CoStar for 'massive' copyright violations
NEW YORK :Zillow was sued on Wednesday by owner CoStar Group, which accused the largest U.S. online real estate portal of publishing at least 46,979 copyrighted photos without permission. The complaint filed in Manhattan federal court seeks unspecified compensatory and punitive damages, which Arlington, Virginia-based CoStar estimated could exceed $1 billion. CoStar, whose real estate listing websites also include and accused Seattle-based Zillow of exploiting the photos, many of which contain watermarks, to boost its rental listings business. Zillow did not immediately respond to requests for comment. According to the complaint, Zillow uses CoStar's photos to induce property managers and landlords to "claim" properties that are not actively listed for rent, and then sells advertising packages and tools to generate revenue. CoStar said Zillow also distributes some photos under syndication agreements to rival portals and Redfin, owned respectively by News Corp and Rocket Cos. Zillow's "free-riding" on the photos results in infringement "on a massive scale, however measured," CoStar said. CoStar said it provides limited licenses of its photos to real estate professionals and does not allow sublicensing. In 2019, CoStar obtained a $500 million judgment against the bankruptcy estate of real estate listing platform Xceligent over the publication of 38,489 copyrighted photos, court records show. Xceligent had filed to liquidate two years earlier. CoStar threatened to sue and Redfin if they do not remove its copyrighted photos. In June, Compass, the largest U.S. residential real estate brokerage by sales volume, sued Zillow for allegedly trying to monopolize private home listings, violating federal antitrust law. Zillow has called Compass' claims unfounded.
New York Times
2 days ago
- Business
- New York Times
Company That Owns Apartments.com Sues Zillow Over Rental Listing Photos
Zillow is using 'stolen' photos to help fuel the massive database that draws millions of gawkers to its website every month, said the founder and chief executive of CoStar Group, the real estate analytics company that owns and On Wednesday, CoStar sued Zillow for copyright infringement in New York federal court, claiming nearly 47,000 of their photographs are being used to advertise rentals on Zillow, with the distinctive watermark of CoStar's logo still visible on thousands of them. CoStar, a behemoth in its own right, has spent a little over a decade acquiring and as it seeks to dominate the home-search marketplace. It has taken on rivals like Zillow, the country's largest real estate site with 160 million properties and 230 million unique monthly visitors. In the same period of time, Zillow has been engaged in its own expansion, pushing its way into the rental market, and according to the lawsuit, now has about 60,000 rental listings. 'What Zillow has not told the public,' the lawsuit reads, 'is that its growth, at least in rental properties and listings, is driven in significant part by Zillow's widespread and systematic infringement of tens of thousands of CoStar-owned real estate images.' CoStar employs about 300 of its own real estate photographers to photograph the properties across the sites in its portfolio. Representatives from Zillow did not immediately respond to a request for comment on the suit. The complaint was filed along with 46,979 pages of exhibits, each containing an image owned by CoStar and licensed to brokers, property owners and property managers who advertise properties on the company's websites. The complaint also notes that the images are registered with the United States Copyright Office. Want all of The Times? Subscribe.
Yahoo
23-07-2025
- Business
- Yahoo
CoStar Group Inc (CSGP) Q2 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $781 million, a 15% increase compared to last year. Adjusted EBITDA: $85 million, a 108% increase compared to Q2 2024. Profit Margin: 43% for commercial information and marketplace businesses. Net New Bookings: $93 million, a 65% increase over the previous quarter. Revenue: $292 million, up 11% from Q2 2024. Revenue Growth: 8% increase compared to Q2 2024. CoStar Product Revenue: $271 million, 7% year-over-year growth. LoopNet Revenue Growth: 8% year-over-year increase. Cash Balance: $3.7 billion as of June 30. Share Repurchase: 585,000 shares repurchased for $45 million in Q2. 2025 Revenue Guidance: Increased to $3.135 billion to $3.155 billion. 2025 Adjusted EBITDA Guidance: Revised to $370 million to $390 million. Warning! GuruFocus has detected 4 Warning Sign with CSGP. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CoStar Group Inc (NASDAQ:CSGP) reported a strong 15% increase in revenue, reaching $781 million for Q2 2025, marking the 57th consecutive quarter of double-digit revenue growth. Adjusted EBITDA rose significantly by 108% compared to Q2 2024, reaching $85 million, exceeding consensus estimates and the high end of guidance. achieved an 11% revenue increase from Q2 2024, reaching $292 million, with a strong net new bookings performance. delivered solid sales growth with residential annualized net new bookings totaling $12 million for the quarter, and a significant increase in membership. LoopNet's net new bookings surged by 345% in the first half of 2025 compared to the same period last year, with expectations for revenue growth to exceed 10% in the second half of 2025. Negative Points Matterport, despite being a leading provider of digital twin solutions, has not yet achieved profitability and its growth rate has slowed. The commercial real estate market continues to face challenges, particularly in the office segment with high vacancy rates and negative net absorption rates. Zillow's aggressive tactics in the market raise antitrust concerns, potentially impacting CoStar Group Inc (NASDAQ:CSGP)'s competitive positioning. The integration and streamlining efforts at Matterport involve discontinuing certain non-core revenue streams, impacting revenue expectations. The product is still in its early stages, requiring ongoing efforts to communicate its value proposition effectively to clients. Q & A Highlights Q: Have you observed any signs of wallet share loss in especially with Zillow's rental package priced below yours? A: Andrew Florance, CEO: We have not seen any loss of share or ability to capture price value at Our product remains strong with high NPS renewal rates and growing bookings. The competitive dynamics involve our competitor purchasing clients at top dollar, but these are low-quality advertisers. We feel confident in our competitive position. Q: What is driving the improvement in Net Promoter Scores (NPS), and where is there still room for improvement? A: Andrew Florance, CEO: The improvement is due to better communication of our value proposition and effective use of our product. Our sales force is relatively new, and as they gain experience, NPS and bookings improve. We are focused on educating agents about the value of marketing real estate online, and the uptake of Matterport offerings is a differentiator. Q: Can you discuss pricing strategies across your business, particularly in multi-family and new homes models? A: Andrew Florance, CEO: We are optimizing pricing based on portfolio size and value. While we are seeing pricing for smaller players at a few hundred dollars a month, larger deals can reach $7,500 to $8,000 a month. We are focusing on penetration rather than maximizing ASP initially, with plans to adjust pricing strategies as we grow. Q: How has the average price for a new membership changed, and what is your broader pricing strategy? A: Andrew Florance, CEO: We focus on profitable growth with high gross margins. Pricing is based on listing value, asset volume, and team size. We have shifted away from buyer agency work pricing and are incorporating rental portfolios into our pricing model. Our strategy is to drive profitable penetration growth, knowing we can capture more value over time. Q: What is the serviceable addressable market for and how are you approaching it with your sales force? A: Andrew Florance, CEO: The addressable market is vast, with 1.5 million agents, of which 500,000 to 750,000 are viable candidates. We aim to build relationships and educate clients on the value of our services. With 750 salespeople, each handling about 1,000 prospects, we are well-positioned to capture a significant market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
23-07-2025
- Business
- Yahoo
CoStar Group Inc (CSGP) Q2 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Revenue: $781 million, a 15% increase compared to last year. Adjusted EBITDA: $85 million, a 108% increase compared to Q2 2024. Profit Margin: 43% for commercial information and marketplace businesses. Net New Bookings: $93 million, a 65% increase over the previous quarter. Revenue: $292 million, up 11% from Q2 2024. Revenue Growth: 8% increase compared to Q2 2024. CoStar Product Revenue: $271 million, 7% year-over-year growth. LoopNet Revenue Growth: 8% year-over-year increase. Cash Balance: $3.7 billion as of June 30. Share Repurchase: 585,000 shares repurchased for $45 million in Q2. 2025 Revenue Guidance: Increased to $3.135 billion to $3.155 billion. 2025 Adjusted EBITDA Guidance: Revised to $370 million to $390 million. Warning! GuruFocus has detected 4 Warning Sign with CSGP. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CoStar Group Inc (NASDAQ:CSGP) reported a strong 15% increase in revenue, reaching $781 million for Q2 2025, marking the 57th consecutive quarter of double-digit revenue growth. Adjusted EBITDA rose significantly by 108% compared to Q2 2024, reaching $85 million, exceeding consensus estimates and the high end of guidance. achieved an 11% revenue increase from Q2 2024, reaching $292 million, with a strong net new bookings performance. delivered solid sales growth with residential annualized net new bookings totaling $12 million for the quarter, and a significant increase in membership. LoopNet's net new bookings surged by 345% in the first half of 2025 compared to the same period last year, with expectations for revenue growth to exceed 10% in the second half of 2025. Negative Points Matterport, despite being a leading provider of digital twin solutions, has not yet achieved profitability and its growth rate has slowed. The commercial real estate market continues to face challenges, particularly in the office segment with high vacancy rates and negative net absorption rates. Zillow's aggressive tactics in the market raise antitrust concerns, potentially impacting CoStar Group Inc (NASDAQ:CSGP)'s competitive positioning. The integration and streamlining efforts at Matterport involve discontinuing certain non-core revenue streams, impacting revenue expectations. The product is still in its early stages, requiring ongoing efforts to communicate its value proposition effectively to clients. Q & A Highlights Q: Have you observed any signs of wallet share loss in especially with Zillow's rental package priced below yours? A: Andrew Florance, CEO: We have not seen any loss of share or ability to capture price value at Our product remains strong with high NPS renewal rates and growing bookings. The competitive dynamics involve our competitor purchasing clients at top dollar, but these are low-quality advertisers. We feel confident in our competitive position. Q: What is driving the improvement in Net Promoter Scores (NPS), and where is there still room for improvement? A: Andrew Florance, CEO: The improvement is due to better communication of our value proposition and effective use of our product. Our sales force is relatively new, and as they gain experience, NPS and bookings improve. We are focused on educating agents about the value of marketing real estate online, and the uptake of Matterport offerings is a differentiator. Q: Can you discuss pricing strategies across your business, particularly in multi-family and new homes models? A: Andrew Florance, CEO: We are optimizing pricing based on portfolio size and value. While we are seeing pricing for smaller players at a few hundred dollars a month, larger deals can reach $7,500 to $8,000 a month. We are focusing on penetration rather than maximizing ASP initially, with plans to adjust pricing strategies as we grow. Q: How has the average price for a new membership changed, and what is your broader pricing strategy? A: Andrew Florance, CEO: We focus on profitable growth with high gross margins. Pricing is based on listing value, asset volume, and team size. We have shifted away from buyer agency work pricing and are incorporating rental portfolios into our pricing model. Our strategy is to drive profitable penetration growth, knowing we can capture more value over time. Q: What is the serviceable addressable market for and how are you approaching it with your sales force? A: Andrew Florance, CEO: The addressable market is vast, with 1.5 million agents, of which 500,000 to 750,000 are viable candidates. We aim to build relationships and educate clients on the value of our services. With 750 salespeople, each handling about 1,000 prospects, we are well-positioned to capture a significant market share. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
16-07-2025
- Business
- Yahoo
Homes.com Report: Home Price Inflation Remained Muted in June. Nationally, the Median Home Price Was up Just 1.3% From a Year Ago
The combination of higher for-sale inventory and ongoing affordability challenges has dampened price appreciation this year. ARLINGTON, Va., July 16, 2025--(BUSINESS WIRE)-- a CoStar Group leading online residential marketplace, released a new report today analyzing home price trends in June (based on the data collected to date), including price trends across major metros and house types. Preliminary price data for June showed a modest 1.3% increase in the median home price nationally, consistent with this year's trend of moderating home price inflation. The June increase is significantly below the increases that were typical for the month of June in recent years. The median home price rose by about $5,000 from June of last year to $395,000. The median prices of townhomes and condos declined compared to last June. Moderating price growth reflects a recent uptick in for-sale inventory and ongoing affordability challenges. The increase in inventory is giving buyers more negotiating power. Still, demand is yet to pick up, as home prices remain high after the run-up during the pandemic years, and mortgage rates stay elevated. Regionally, the Midwest and parts of the Northeast experienced the highest home price appreciation in June compared to June 2024. Five of the 10 major metros with the biggest price increases were in the Midwest. Several key metros in the Northeast also outperformed the nation in June. However, almost a quarter of the 40 largest metros saw outright year-over-year declines in the median home price, with the weakness concentrated in several major Sun Belt metros, struggling with elevated inventory levels and lower demand. The data shared in this report could change slightly once all home sales are accounted for. Erika Ludvigsen, National Director of Residential Analytics at is available for interviews to provide insights on the data and the residential real estate market in general. For more information and insights on the latest home buying and selling market trends, visit About is the fastest-growing residential real estate marketplace and the second-largest portal in the United States. is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021. is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. unparalleled content and search capabilities bring millions of buyers and sellers to the site, where they can seamlessly connect with agents. On average, Members are winning 58% more listings* because they offer the home sellers a real estate portal that works for them, not against them. The Network reached an audience of 104 million average monthly unique visitors in the first quarter ending March 31, 2025.** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry's largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit * Based on internal analyses comparing Members to non-Members on ** Network (which includes the Apartments Network, and the Land Network) average monthly unique visitors for the quarter ended March 31, 2025, according to Google Analytics. About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 130 million average monthly unique visitors in the first quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit View source version on Contacts Matthew BlocherCoStar Group(202)
