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Realtor.com CEO Allegedly Resigns Amid More Layoffs

Realtor.com CEO Allegedly Resigns Amid More Layoffs


Realtor.com and Move Inc., CEO Ryan O’Hara is leaving the company, parent company News Corp confirmed Thursday. Sources tell Inman that O’Hara’s departure comes amid layoffs at the company.

Ryan O’Hara. | Photo credit: realtor.com

“I am grateful to Rupert Murdoch, Robert Thomson and News Corp for affording me the opportunity to lead five different businesses on two continents over two stints with this great company,” O’Hara said in a statement. “My time at Move has been especially rewarding both professionally and personally. I am proud of the business results and the many great professionals I worked with who helped achieve them. There is no doubt that realtor.com is smartly positioned for an even brighter future.”

O’Hara has been the CEO of Move Inc. and realtor.com, subsidiaries of News Corp since 2014. He’s leaving on June 18 and set take another CEO role within the industry, the company’s announcement says.

Tracey Fellow, the current president of global digital real estate at News Corp will serve as the active CEO of Move Inc., while the search for a new CEO is underway.

“[O’Hara] has transformed realtor.com, overseeing a period of remarkable growth, with revenues more than doubling during his tenure,” Robert Thomson, chief executive of News Corp said in a statement. “[O’Hara] and the talented team have helped realtor.com more than triple the number of unique users since our acquisition less than five years ago, reaching an all-time record of more than 73 million in May.”

Realtor.com has been undergoing changes since Move Inc., acquired lead qualification and referral service Opcity last year. It has slowly been replacing its traditional lead generation service with Opcity’s referral offering.

In May, the company laid off a sales team that had been working in Scottsdale, Arizona, and told Inman it was consolidating its sales efforts in an existing California office.

Revenue from digital real estate services fell 3 percent year-over-year during the first quarter of 2018. However, Move’s revenue alone increased 5 percent, hitting $121 million. Realtor.com also saw a 7 percent growth in unique users.

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