Austin Business Journal writes, "Count Realtor.com as the latest California company to name Austin its new corporate headquarters.
The real estate platform, which already has an Austin office at 901 E. Sixth St. and employs 400 people here, is making the city its official headquarters instead of its previous home base of Santa Clara, Calif., according to an announcement. The move appears to be mainly a change of letterhead for the time being, but CEO Damian Eales said the company expects to add hundreds of new hires in Austin over the coming years, with many likely to be recruited locally.
The company will maintain its presence in New York and Scottsdale, Arizona, but will be closing its offices in Santa Clara and Chicago.
Austin's central U.S. location in a business-friendly state were among the factors that spurred the decision, Eales said, as were the city's tech scene and talent pool. He also said the availability of affordable housing in the state, compared to California, played a role.
“Texas, and some other states, recognize that if you want to grow the economy, you’ve got to house the economy,” Eales said.
Texas accounted for 15% of new housing permits in 2024, more than any other state, according to a Realtor.com report. Further, roughly 48% of all for-sale inventory in the state in 2024 was priced at $350,000 or below.
The other benefit of relocating a tech company to Austin is the ability to stand out more than in Silicon Valley, he said.
“We were positioned in California, and it’s easy to be lost in Silicon Valley with all of the tech monoliths that you’re surrounded by,” Eales said. “Whereas in Austin, we can have far more of a presence.”
In Austin, Realtor.com leases about 60,000 square feet on East Sixth Street.
The employee count could climb soon. Realtor.com is making Austin its top hiring location, according to the announcement, and while there's no set hiring goal, Eales said the company sees “many hundreds” of new employees here in the years ahead.
“Austin is the town where we’re going to bring in our senior technologists, senior marketers, and strategy people,” Eales said. He added that “we really want to recruit most of our future leaders right here in Austin.”
Even with the potential new hires, Realtor.com isn’t anticipating needing a new office in the near future. Eales said the company has enough space at its current location, where it leases three floors. Should it outgrow its current office, it would consider both expanding to additional floors or finding a new office, he said."
Source: Austin Business Journal
Written by: Cody Baird
Published: February 6, 2025
Posted by Grossman & Jones Group on
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