MarketSource: HousingWire
CoStar: Homes.com growth shifts to field reps — inside sales cut 655→267
Original headline: “CoStar wants faster Homes.com growth, is shifting sales into the field” — HousingWire, Oct 28, 2026
HousingWire’s Brooklee Han reports (Oct. 28, 2026) from CoStar’s Q3 earnings call that company-wide net new bookings were $37 million (below expectations) while revenue hit $952 million (+14% YoY) and residential segment revenue rose to $460 million from $373 million; Homes.com generated $7 million of annualized net new bookings even after cutting inside sales reps from a peak of 655 a year ago to 267. CEO Andy Florance said CoStar has roughly 2,000 sales professionals (down ~10% YoY) and will shift most Homes.com growth to field sales with prior real estate/sales experience in top cities, while still building the Richmond inside team — claiming demo close rates above 40% when agents see Homes membership. The piece also notes Matterport subscription revenue +11%, Zonda’s ~$42M pro forma Q3 revenue (~75% subscription), the ~$730M Vexcel aerial deal (expected close Q1 2027), $150M cost efficiencies YTD and at least $200M more targeted over 12–18 months, plus $74M net income.
Our take (opinion & analysis, not reporting)
For US agents: expect more face-to-face Homes.com membership pitches at open houses and offices as CoStar rebuilds field capacity after cutting inside reps — HousingWire cites Florance’s >40% demo close-rate claim, so treat membership ROI against your current portal/IDX spend before signing. If a Homes.com rep wants a demo, ask what membership includes now versus last year and how leads route into your CRM. The Vexcel/Matterport/Zonda stack is CoStar’s longer-term data bet; don’t invent ship dates for richer listing imagery beyond what HousingWire attributed to the call (Vexcel close still aimed at Q1 2027).
Online discussion: no notable public discussion found yet (checked Oct 29, 2026).