Move, Inc., parent company of Realtor.com, has announced that it has acquired UpNest. The Bay Area-based UpNest operates a marketplace that connects sellers with local agents who compete for their business.
The acquisition will expand Realtor.com’s seller’s support, currently housed under its ReadyConnect Concierge umbrella.
“Our open marketplace approach is all about empowering people with choices. While some of our competitors try to funnel buyers, sellers and real estate professionals into a specific set of services in a closed system, Realtor.com helps homeowners choose how they want to find and connect with an agent, and agents and brokers can decide which methods work best for them,” said realtor.com CEO David Doctorow. “UpNest has a proven track record of successfully connecting homeowners looking to sell with the right agent for them, and we believe that its innovative model complements our existing ReadyConnect Concierge program.”
Terms of the acquisition were not made public, but UpNest’s 50 person team is expected to stay on and work under the Move, Inc. umbrella of organizations.
“UpNest has helped hundreds of thousands of people sell their homes with the help of top agents over the past eight years,” said UpNest Founder and CEO Simon Ru. “We’re excited to join the Realtor.com® family. Realtor.com’s audience reach and strong customer base will help us connect even more sellers with the agents who can best help them.”