Move Inc. (MOVE) Buys FiveStreet

Posted Oct 16, 2013

Move Inc. (NASDAQ:MOVE) is an online real estate company that has acquired FiveStreet Inc.  FiveStreet offers a lead consolidation and response tool for agents, agent-teams, and brokerages.  Move will be able to help realtors connect with consumers.

FiveStreet has a focus on the first five minutes after a consumer contacts a realtor.  FiveStreet consolidates leads from over 40 lead providers including and several other real estate websites.  FiveStreet automates the process of rapid response for assigning and distributing leads.  FiveStreet gives agents a single and unified dashboard that ensures leads are not lost or overlooked.  FiveStreet is already integrated with Move’s Top Producer CRM platform.

“This integration is a natural fit to our suite of professional products,” stated Move CEO Steve Berkowitz. “It connects the power of our lead generation solutions with an elegant system that helps agents, teams and brokers rapidly qualify and respond to leads, and then transfer key lead information to our Top Producer and TigerLead systems for further follow-up.  And, this system works not only with leads but also leads generated by our competitors.  Agents are freed from the inefficiency of accessing multiple systems and dashboards to run their business.”

FiveStreet has disrupted the real estate market.  I remember when I was looking for a house, I must have sent out e-mails to 50 real estate agents in the area.  I received 10 responses within a week, but I ended up working with the agent that got back to me the fastest.  According to an industry study, as many as 75% of online leads are lost and around one in four leads receives an average response time of 8 hours.

“At FiveStreet, we addressed one of the most competitive aspects of an agent’s business ? securing that first connection ? by designing a simple, elegant automated tool that not only coaches the agent, via prompts, through the simple best practices designed to help secure the connection, but also integrates seamlessly with the next steps in the process,” added FiveStreet CEO and co-founder Rusty Klophaus.  “We are working with Move in harmony toward our shared vision of simply and effectively facilitating the day-to-day aspects of a high performing agent’s business practice in a systematic way. We’re thrilled to be part of the powerhouse of productivity that Move is creating with its suite of integrated solutions.”