RealtyTrac has announced the acquisition of online data aggregator Homefacts in the company’s latest move to grow its market presence and arm consumers with the information they need during the homebuying process. RealtyTrac entered the agreement to expand upon its data collection capabilities and broaden its data analytics, offering with new products that will further enhance the company’s value proposition. Homefacts offers homeowners and prospective real estate buyers an online due diligence resource for making informed decisions regarding property-specific characteristics and health, environmental and safety information that are outlined in real estate disclosure documents but are not otherwise easily accessible to homebuyers.
As part of this agreement, Homefacts Founder James Moyle will join RealtyTrac’s executive team as president and chief operating officer. Moyle possesses a proven track record as a forward-thinking Internet entrepreneur, having grown the popularity of Homefacts to garner more than three million page views per month in the absence of a marketing budget or external financing, and previously founding and serving as president of the prominent online vacation rental sales retailer SkiWest before selling it to Overstock.com in 2005. In his new role alongside CEO Brandon Moore, Moyle will play an important day-to-day role managing RealtyTrac product development and consumer-facing teams in addition to shaping the strategic direction for the business going forward.
“We are excited about the new opportunities that adding Homefacts’ incremental data sets allow us to explore, from new product offerings and stronger real estate analytics to better data collection methodologies,” said Moore. “RealtyTrac’s trusted leadership position in the marketplace combined with the financial backing of our strong ownership team to make strategic acquisitions such as this puts us in a position of leadership to empower homebuyers, providing them with the important information they need in the home-buying process.”
Homefacts is a pioneer in the pre-diligence process for prospective homeowners, providing them the insights required to make informed decisions regarding cities, neighborhoods and properties before actually investing the time and effort to visit them.
“Our value proposition is simple: It’s about time,” said Moyle.