Industry Buzz: Andy Florance's Remarks at CEO Exchange Fuel Speculation of CoStar Expansion

The discussion surrounding the real estate portals and their evolving services is growing, and CoStar Founder and CEO Andy Florance doesn’t want his company to be overlooked in the conversation, which was evident in a recent Richmond Times-Dispatch report where he unpacked plans for an ongoing expansion of CoStar’s biggest operation in Richmond, Virginia. Aside from hiring 2,000 new employees, the facility is expected to play a part in CoStar’s content offering on its portals, which Florance claimed would give Apartments.com and Homes.com an edge in attracting consumers. “We’re getting so much content, we’ll be able to tell you everything about a neighborhood,” he said.

During a one-on-one chat with RISMedia Founder and CEO John Featherston at RISMedia’s upcoming CEO & Leadership Exchange in September, Florance will discuss CoStar’s future in the residential space and how data is becoming the cornerstone of success in the competitive landscape moving forward. Florance will also offer insights and forecasts into where portals like Homes.com could head as innovations like artificial intelligence continue to take hold in the real estate tech space. 

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CoStar continues to capture headlines as it remains bullish on its residential and rental sector. While it won’t be the $3 billion acquisition of realtor.com® parent Move.com that folks raved about late last year, Florance made it clear in a recent earnings call that CoStar is keeping its eyes open for more opportunities. 

Florance and Featherston’s one-on-one discussion will take place on Wednesday, September 6 during RISMedia’s 2023 CEO & Leadership Exchange, which runs until noon on September 7 and takes place at the historic Mayflower Hotel in Washington, D.C. The 35th annual event will gather the industry’s top minds to discuss the most critical trends and issues impacting the year and outline strategies for success in the fourth quarter and into 2024. More than 100 brokerage executives and industry experts featured in over 25 panel discussions and presentations will help you understand what’s transpired so far in 2023 and share tangible advice for defining your destiny moving forward.