Via BusinessWeek:
Newspaper publisher Tribune Co. on Monday said its online unit acquired Internet real-estate Web site ForSaleByOwner.com for undisclosed terms.
This is an interesting turn of events. A major media company buys up a portal for home sellers who want to go around the normal real estate industry to sell their home.
ForSaleByOwner charges sellers fees of $90 to $900 to list their homes, allowing homeowners to avoid paying the traditional 6 percent commission charged by real estate brokers. The Web site offers neighborhood information, online mortgage applications and other home-purchasing information, Tribune said. (via Chicago Tribune)
The big question is whether or not a large print media company has alienated some of its largest advertisers (real estate brokers) with an acquisition of a company that is designed to bypass them altogether. Sure, they get 1.6 million visitors a month through this deal, but hopefully they haven’t ruined some relationships in the process.
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