Subsequent Event

9 Months Ended

Sep. 30, 2013

Subsequent Event

Subsequent Event

18.  Subsequent Event

On October 15, 2013, the Company acquired all of the outstanding shares of FiveStreet, Inc. which provides a lead consolidation and response tool for agents, agent-teams and brokerages.  The software consolidates leads from various lead providers, including realtor.com® and other major real estate sites, and automates the process of rapidly responding to, assigning and distributing leads.  The purchase price was $4.8 million in cash, $3.8 million of which was paid upon closing, with the remainder to be paid in two equal installments on the first and second anniversaries of the acquisition date. The financial results of the acquisition will be included in the Company’s Consolidated Financial Statements from the date of acquisition.  Pro forma information for this acquisition has not and will not be presented because the effects were not material to the Company’s historical consolidated financial statements.