Damn... Have you ever sat there...watching a stock fall as CD did this afternoon and KNOW that it has falledn too far but still get shy about pulling the trigger on a buy? Could've gotten in under 18 and didn't. I'll take the trophy for dumb butt today, thank you very much!
It really amazes me of the stupidity and irrationality of this market (& its participants). Just because Microsoft launches a real estate site does not mean that it is going to have any revenue impact on CD. Think about it! MS is aggregating real estate listings and putting some nice content around it. Who owns the listings?? THE REAL ESTATE COMPANIES LIKE CENTURY 21! (except for the small number of For Sale By Owners). The companies that own the listings will still garner their commissions (aka revenues) for each home sale. Microsoft's HomeAdvisor website is more of a marketing tool that will HELP companies like Century 21 generate additional sales and cut expenses by having the users do all of the upfront research. DID ANYONE BOTHER TO LOOK AT AN INDIVIDUAL LISTING IN HOMEADVISOR AND SEE THAT THE REAL ESTATE COMPANY's BROKER IS LISTED THERE?? WHAT A GREAT MARKETING TOOL FOR THE AGENT/BROKER!
Also note that MS only has around 500k listings out of a potential 3 million at any given time. Go to Realtor.com and see what they do and realize the MS is doing the same thing. Another point is what happens if realtors/brokers do not wish to give their listings to MS (I don't believe that MS has that strong of a relationship with the industry). MS no longer has a product.
Go figure..I guess the irrationality that is pushing CD down has just created a purchase opportunity. The stock price will be back up in a couple of days (unless these investors went and saw "Armageddon" this past weekend think that the sky is falling and will sell all that they own.
REDMOND, Wash., July 13 (Reuters) - Microsoft Corp. said Monday it launched a free on-line real estate service to help consumers to find homes and mortgages.
Microsoft in a statement said its HomeAdvisor service (www.homeadvisor.com) streamlines the home-buying process from finding a realtor, to the desired neighborhood, to qualifying for a mortgage on-line.
The real estate network represents more than 500,000 home listings nationwide with new listings added every day, the company said. The site draws on home listings from both national and local listing services.
In addition to home and financial data, HomeAdvisor provides Inman Decision Support, an independent publisher of real estate advice, Microsoft said.
Microsoft's new service faces competition from Realtor.com, a competing on-line real estate site that is owned by RealSelect Inc. of Westlake, Calif., which has links to the National Association of Realtors.
Other rivals include Cendant Corp.'s (CD - news) Century 21, HomeShark Inc. of San Francisco and CyberHomes of Minneapolis.