

|

|
|

|
Real Estate News And Advice
|

|
February 11, 2012
|
|
|
Response To: |
MUST READ:Industry Standard Investigates Homestore
(insider_truth - 05/26/2001 07:30 PM)
|
|
Main Topic: |
No Listings For Bank Of America, Says Realtor.com
|

You Deserve The Truth
Posted By: insider_truth - 05/27/2001 09:26 AM
Excerpt: Typical of these is Homestore's recent deal with Bank of America (dossier). On April 10, the two companies announced a "$10.5 million marketing and Web-services agreement" that would allow Homestore access to B of A's 3.2 million online bankers. Analysts and investors figured that meant some $10.5 million in revenues to Homestore, and the stock surged 22.8 percent in a day. But in the company's quarterly report on May 15, Homestore reported giving Bank of America $13.4 million worth of stock for the deal. The company has signed similar stock deals with Broker Gold, Budget Truck, GMAC, Norwest and a host of multiple real-estate listing services.
OK. The way this BOFA deal was done is now starting to smell like last weeks fish wrap. The listings were not only given to BOFA and then taken away, the "Revenue" deal of 10.5 million looks like it was really just a HOAX. This in my opinion, is manipulation at it's worst and should be investigated by not only NAR, but the SEC and added to the list of investigative items from the DOJ. If you are a Realtor, SPEAK UP. NAR and Cendant need to distance themselves from this company before they take everybody down with it. This stock symbol will move to the penny boards within a year and the new name of the company will be ARROGANTRIX. All in my humble opinion of course.
|
Back to Previous Post
Printer Friendly Version
| E-mail This Article to a Friend
Copyright © 2012 Realty Times. All Rights Reserved.
Terms and Conditions | Privacy Policy | FAQ | Home
|
|
|

|

Powered By

|

Site Map
Newsletter Sign-up
Subscriber Login
|