CoStar shifts Homes.com sales to field team amid revenue growth

CoStar Group reported a 14% increase in revenue to $952 million in the third quarter of 2026, marking its 62nd consecutive quarter of double-digit annual revenue growth, according to HousingWire.

Despite this growth, the company's net new bookings totaled $37 million, falling short of expectations. CEO Andy Florance highlighted the need to expand the sales force to reach more prospects.

CoStar currently employs about 2,000 sales professionals, a 10% decrease from the previous year. The company is shifting Homes.com's sales approach from a centralized inside sales team to field sales professionals with real estate experience in key cities.

Homes.com reduced its inside sales representatives from 655 to 267 over the past year but still generated $7 million in annualized net new bookings during the quarter. Florance noted that field sales reps who meet clients face-to-face tend to be more productive.

This strategic shift follows activist investor calls for CoStar to divest Homes.com. The residential real estate segment contributed $460 million to the company's overall revenue in the quarter.