Move, the parent company of Realtor.com, said the momentum generated by RealPRO Select in fiscal year 2026 has carried over into the first quarter of fiscal year 2027.
During the first quarter of FY 2027, Realtor.com recorded $160 million in revenue, up 5% year over year, marking the segment’s eighth consecutive quarter of growth. These financial results were highlighted during News Corp’s fiscal year 2026 fourth-quarter earnings call on Wednesday evening.
“In a housing market constrained by 7%-plus mortgage rates, Damian [Eales] and the team have exhibited exceptional discipline in their operational focus and AI integration, and that approach has converted revenue growth into meaningful bottom-line expansion,” Robert Thomson, the CEO of News Corp, said during the earnings call.
RealPRO Select grows
News Corp executives attributed Realtor.com’s strong revenue performance to the growth of RealPRO Select. The company said it is focused on enhancing the platform with stronger lead generation, branding, productivity tools and training capabilities.
Realtor.com also focused on the expansion of RealAssist AI during Q1, including the launch of a pilot of RealAssist in Rich Communication Services (RCS), integrated directly into Google search and available on iOS and Android.
“The pilot is already attracting new users, driving strong engagement, and helping us capture pre-search intent earlier in the buyer journey before consumers ever enter a browser,” Damian Eales, the CEO of Move, wrote in a blog post about the company’s quarterly performance.
In addition, Realtor.com also launched RealAssist AI for Realtor.com+, which Eales said helps agents onboard their clients faster, build more tailored searches, summarize client activity and draft follow-ups in their own voice.
“The platform is already supporting thousands of successful agent-client connections, and early feedback on these AI tools has been very positive,” Eales wrote.
Other highlights
Eales also highlighted the relaunch of the My Home dashboard, which now includes a collaboration with Opendoor. Eales said this is encouraging sellers to engage a listing agent much earlier in their journey.
In addition, News Corp also noted that Comscore data shows 4.9 visits per unique user to Realtor.com, up 8% annually, and an average of 263 million monthly visits in the quarter, which the company said represents a “substantial” lead over Redfin and Homes.com.
Despite these strong numbers, Realtor.com noted that lead volume was down 11%, which the portal attributed to broader market conditions and its repositioning of customer acquisitions to higher-quality and higher-value leads.
“Despite a constrained housing market, Realtor.com’s strategy is delivering positive results, and we’re well positioned to grow as conditions improve,” Eales wrote. “Our focus remains on investing in our audience and AI tools that enhance a consumer’s experience and augment the role of the professional agent.”
Overall, News Corp’s digital real estate services segment generated $529 million in revenue, up 10% from a year prior. The company as a whole generated $2.28 billion in revenue, a 6% annual increase, and net income of $215 million, up 43% compared to a year prior.
