REAL ESTATE

Home goods retailer Overstock.com makes push into real estate

BY Marianne Wilson

Overstock.com is entering the real estate market — again.

The online home goods discounter announced it will launch a platform for retail estate, called “O Real Estate,” in September. The site will eventually give landlords and tenants a portal for renting, buying and managing real estate, all in one place. Overstock previously made a move into the real estate business in 2008 when it set up a real estate search site, which it shut down in 2011.

As a first step in its foray into real estate, Overstock.com has re-launched a property management site, Houserie, that provides landlords and property managers a variety of services for managing single-home properties or multi-home complexes. (Houserie was founded in 2013, and purchased by Overstock in February 2018.) The services include potential tenant screening; communication with renters; organization of resident information; and rent payment management, which will quickly follow the launch.

The property management site launch is the first phase of Overstock’s O real estate initiative, which is focused on using the retailer’s advanced search technology to assist customers with real estate needs.

“For nearly 20 years, Overstock has connected customers with premium home goods, helping them build their dream homes; now, we look forward to expanding those services in the real estate industry,” said Seth Moore, senior VP of strategy at Overstock.com. “We’re always finding ways to use our technology to help customers find just what they want for their homes. Adding real estate to the mix was a natural fit for our brand.”

The updated Houserie site provides a new user experience with a refreshed design and added service options to better serve landlords and tenants, according to Overstock.com. Houserie offers a wide variety of services for landlords, most of which are available instantly, including: identity verification, eviction history, credit check, background check, tenant scorecard, and a comprehensive screening. The service can be purchased for one-time use at three price points depending on the information needed by clients.

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