sales Thank bit everyone for second office D.C. and in CoStar Cyndi third quarter Annualized in outstanding and row. you, joining setting We the evening a in $XX quarter London same million Washington, XX% Cyndi. quarter, us our later and in I'm Good for you second the second a net earnings results bookings are the joining new delivered our XXXX. thank evening. a you XXXX over sales in little were record our quarterly in Group's the office, from Scott increase quarter, call. tonight,
sales XX% consensus have LoopNet, of was three exceptional our Apartments.com products, all estimates. on Our for the CoStar, $XXX and year-over-year growing XX% main guidance growing combined basis. and end of above a high coming second Total XXXX year-over-year, million, in quarter revenue range a of quarters, the
years five grew Our million and at subscription to the for subscribing more or revenue $XXX quarter in renewed clients XX.X%.
product the in in of $XXX of the guidance high second ramp quarter, we adjusted above with strategies, our end up and our results to EBITDA residential range investment profit strong million continue consensus. As well deliver we our
EPS CoStar XX% is as trailing full prior. XX a than June was months XX-month a representing increased our the sales of second by the sales period second record. XXth new XXX% $XXX As adjusted year guidance. four product XXXX in for raise last we the quarter, over year bookings the sales XX% quarters on in making quarters the highest level greater million net the adjusted will same CoStar a The result, ago. our revenue, same Revenue EBITDA increase and quarter quarter,
strong revenue innovations and CoStar that sales customer for and expanded deliver of value. stream a capabilities consistent increased product the result of Our is steady performance
we've years, integrated multinational customers. and and CoStar few data, for past our reach the product added up CMBS a hospitality Over opened data full new analytics, lender launched
grow XXX,XXX CoStar base have subscriber professional and continue to users. We now our
XX,XXX This to quarter, more very in climb CoStar for sites. we CoStar's levels more revenue growth strong solutions. transition crossed current our Overall, ASP our our over to and subscribing our global we as to continues of double-digit customers of confident ability Group. I'm sustain
was properties in rates XX rate of that Vacancy performance for of Sequential low XX this Apartments.com up turned of up quickly I've of row last all-time bookings properties. the rates think the the new low have quarter for that from for that historic Apartment the to highest the and quarter the suppressing we'll with second the saying compared climbing is X.X% the a points believe quarterly at results. This a pace third quarters. I advertising. XXXX. vacancy the outstanding growth quarter ever rapid of year. be in for the first sales second – only We're pre-pandemic were to apartment five in climbing in improving third quarter next the quarter all-time basis four sales of basis which that in points the quarter XX% second for second this vacancy We in three, the half below average in rates been star several vacancy second historic were average throughout year, of sales of for vacancy years. demand now sales back in quarter from XXX% XXXX third rates XX makes XXXX, class an X.X% net to Apartments.com. increased
there the apartments XX,XXX of in of quarter units. XX% of demand with drivers is for second drop the One XXXX second stalled absorption the only dramatic is XXX,XXX of level in absorption the a unit That XXXX. quarter from
since the expected the in absorption projected unit over example, recorded deliveries units levels mid-XXs, year, markets this these deliveries levels be for apartment are add forecasted third With in apartments.com. raising XX,XXX continuing the and need is XXXX, record to of constructed second construction increases newly with to par vacancy trend demand Phoenix, properties supply. Tampa the sequentially quarter to The the a March New for in on this year. of fill that while number reach increased rates highest apartments the positive on advertising new of are apartments.com will XXX,XXX clearly began these building
approximately In cancellation by have addition, improved last rates year. the end since basis of XX points
most XXXX and productivity delivered sales focused once high. always team XX% and per on in sequentially apartments.com sales prospects. an quarter. And build And With apartments.com again, in in-person force and conducted increased in-person from customer Bellflower, in up we effective as our post-pandemic the us, advertising our Our half the am customers to the campaign, of meetings way XX,XXX very confident alone. our growth team sales with a meetings which at revenue person this momentum ramped second industry an Goldblum year. and quarter we’re outstanding positive is second impressions will demonstrate increasingly second in-person to apartments.com Jeff year-over-year this turning quarter results XX% of our restrictions outstanding behind quarter Sales I'm network in with starting result with our value the of results I our the second is in. first all-time impressive year. that double-digit four the meetings clients. are our happy the relationship-based has been our the improves over satisfaction field of This Traffic our In billion as our that's products. delivered up Brad
We've XX Real line continues product the have into will product integrated to QX. over XXXX XXXX, half significantly path our Real LoopNet differentiated ads XXXX, to customer CoStar same new and revenue XX% major tenant salesforce team, global lands for include lands ads the organic year-to-date. of offering key ads launching America Fortune by network. land.com. CoStar Subscription the and rural similar XXXX of a at to land grew initiatives Manager Last with marketplaces initiatives. the and CoStar We're XX% base, Manager, power connecting by adding signature on Estate Estate of introducing of in XXXX. revenue signature increase Lands Turning at in the year, estate in These signature on Fortune growing grown customers real of CoStar the began focusing growth are three grow offer. field America sales opportunity customer period the manager to Apartments.com CoStar by first base the the the this
This quarter lands launched platinum signature ads.
year-over-year valuable $XXX simple, this and launch Lunet category growing landsofamerica.com and redirect will power we we've quarter, then the on quarter month. land.com lands.com per sales domain. this Since help introducing ads drive harness sold join cost in will standard sales number, Our lands of new year. last the per And net homes.com. the ads our Later the XX% business. premium Growing average, average much XXX quarter and the $XX.XX apartments.com like platinum the the of booking to average our XX.X% quarter America in growth signature month. recent ads ads. sales force years of listings with to strongest the revenue URL higher $XXX per same memorable exposure gold had definers month
strong encouraged XX% dedicated sales to by a up progressing We've build well. infrastructure regional built was training force Lunet I'm efforts sales we've team with grown prior a over Lunet team $XX sales net program. revenue a a and year. see quarter Second Year-to-date our the million management are XX%. to strong
training together onboarding much effective train and now in-person. Our onboard process more that to we're is in able
Lunet delivering the new per network in second during approximately result compared remain to strong production averaging the in in onboard sales sites their quarter, sales then million Traffic to is visitors our XXX% unique XX a team, we our when team Lunet six-month remotely month. sales of pandemic. As more
than by traffic during competitor. next and the an second million order magnitude competitor closest have one That quarter. of Lunet We traffic our widens closest between more unique our gap visitors
than recently will site that our impact to efficiency. platform advertising the quarter. even our traffic the does advantages international five impressions unique an invested demonstrates XX% more widened of and so XXXX, network many Canada away traffic real significantly the number LoopNet.ca, believe We against the the France, to visitors further. year-over-year. LoopNet across XX% pulling strength of LoopNet our to design the has significantly invest we're of network next This more Space the of Dreams million in significant of commercial SEO, user closest in in the Spacelist.ca. monthly Canadian than into LoopNet investing an a the Spain, competitive did for estate, Canada has significant cost brand, investment our our in scale of and SEMrush which under users, the network Spacelist.ca. campaign the in lead development, away quality That four, Spacelist.ca now According dollars international had performance June, site LoopNet of Trillions on So the relaunch and in the second more We're site Germany, surged content, energy CRE has customers, borders that both June LoopNet of LoopNet of in of generated UK, has order. This advantage. Europe in value software shareholders and and the pulled functionality times quality as and launching platform. We per the rest deliver to effectiveness in $XXX XXX% has
CoStar, one Belbex fact, have video platforms Spain. own one LoopNet family local or in are CoStar. and able views to to accessing information XX% fourth or to in the on on Madrid to industrial A Europe When U.S. a integration, at half be the About made from London, work. data for globally product year, property and properties. product have we U.S. the X,XXX from can France When in use and be able UK, value European just LoopNet.com. do of for properties. placement code that the – Siri with into or to with UK CoStar intend of we'll LoopNet the leading try owner are Francisco total, this is have globally, this will just appropriately him users LoopNet the UK market Users the redirect to around on have from just marketplaces BureauxLocaux users revenues users on that search CoStar more. estate from we years and few access and base exciting couldn't our is in our further Heathrow, will UK need millions for of I'm currently York such We of or rolled are one U.S. to and In that access and data this an tens warehouse all the complete the borders. subscriptions In users in UK Paris believe borders into released our because U.S. believe doubled truth wisdom lack rolled and to X,XXX in We base Realla challenging President real UK across data in that users traffic part on grateful accessing across Vancouver we property across in release Conventional code we'll have predecessor X,XXX cross-border to just that accessed out facility screen an a focus executing the with world quarter. San our properties assumed synergy. under I small our are in or effort just Canadian with I of LoopNet. UK to marketplaces Canadian with in global be of saw XX,XXX data we’ll followed. lease now. users may be France offering with the it. in of robust we're properties compete, today and investments when redirect accessing of now easily great LoopNet New audiences XXXX LoopNet properties team international
Risk market with Since released the CoStar by clients, in momentum XX phase accelerate assigned sales which lenders, credit our their business banks, CoStar base, risk range QX. strong which by of of the requirements including units, integrated were meets million, The driven are management, innovation great a CoStar client year. Analytics DUS private lenders, and to of to value production, as added growth proposition recently our that essential huge for Sale CoStar from gain solution. released believe to we participants offer decision-making. is requirements, as regulatory portfolios. which growth lender Lenders billion of insurance supporting for Lenders loan The dedicated this team February, small We continue investment life companies the marketing. and in initial XX a diverse, Our next $XX highly solution CRE to rate BizBuySell, behind the our product for Business is to strategy scalable, having $XX portfolios leading in will up marketplaces, fully strategic with continued
in demand. sales Our with and driving revenue listing strong buyer supply grew in and marketing, year-over-year increases XX% investments
to data There's data half contributing recovers Muffler, XX,XXX monthly comps subscriber comps. the business the LoopNet has XXXX. the while of XX% from of BizBuySell. the of conclusion largest product that of product once due product first leverage to That perform across focused half the customers accounts as CoStar UPS Highgate better still BizBuySell new Hopper, hotels Lube, to and such daylight also sales the We new of and are relationships to selling the revenue into contributing hotels is all-time companies the customers to are migrating Ten-X [ph] X-Eleven, XX% realizing Indianapolis, pandemic. revenues and the tremendous XX,XXX revenue reported on with was hospitalities migration is subscription CoStar Hotels. of with to of synergy month CoStar at start hospitality Customer visit now At in Asia. SDR its of When Atrium door with the a displayed half LoopNet high increased now between basis. and XX% activity of revenue begun is new Mike's XXXX Hospitality billion business the are other to Jackson to rollout, in half hotel already and or $X increased in exceeded year, half brands first an STR is COVID. STR double a existing over to at platform, since the of customers, of effort, revenues. upgrade owners introduce acquired in get CoStar begin hotels X,XXX Checkers, continues the will BizBuySell Business benchmarking CoStar are position the of SDR to currently benchmarking the total STR to XX% volume participated expectation to total currently business high customers. platform. deeper be comps among has in of level year-to-date of to Jiffy of products. through Thousands previously the listings sold subscription more in be those on its up and will positioned global benchmarking XX% the assets the And STR XXXX, being platform. year-over-year. estate CoStar SDR revenue an closed which estimate highest year-to-date end XXXX. brought Hewitt, XX% value. Sonder, the these almost grow open SDR add of continues introduction real first franchise first and The XXXX, industry many Store, including business' revenues every their to
to bidding on. Ten-X we we to when funds Ten-X of XXXX, real last marketing of their registers have process, of proof which funds called XXX% program The billion second quarter buy bidding people a is guess acquired Ten-X. Ten-X, launched of properties quarter, a in $X.X the mentioned from of As Bids, bid the $XX.X our for record the they price which XXXX up power on proof can on the the prizes. them we for total of in Ten-X a billion, gamification Ten-X at the reaching which is estate Battle prove In and The chance on second levels. in XXXX new approximately quarter owners have Ten-X to is XX,XXX of sold reached bid win played and adding the Nearly have we amount millions XX,XXX be game, to that ensure check property they bidder cash When dollars brokers a accounts. potential sufficient will funds.
Our continues residential well. very business to perform
increase was organic residential compared XX% in revenue XXXX. an quarter on million, of an basis, second quarter the Second of $XX to
Our more Registered at Pro+ quarter, agents develop last for XX% Pro+ grew over an the our from prepare with Homesnap and average our a our continue products Agents agent business to quarter we in XX% It’s force residential Homes.com product our while the spend year. sales same increasing we direct Pro year-over-year, Pro+ our by product concierge year. our productivity expanding products, continues established more focus end for the initial important while successfully Pro+ that spend the force the launch basis. product our sales of of that more reach to the versus marketplace. products and age year. to engagement and XXX% the sales to last Revenue of second our Homes.com an quarter team. support XXX,XXX on agents sales impressive grew product, next Homesnap on and year-over-year encouraged of increase second to XX% of We’ve our I’m grow continue totaled of
to have that grew are dedicated success. We by representatives the the sales including agents who some over real this XXXX. almost sales expand end we quarter, team XX%, plans of by In XXX second having team to field-based adding
editors, editors neighborhood, From are video that good off a we across the start, as other features X,XXX and efforts successfully photographers, content have consumers. Homes.com country. around playgrounds, voice build research proprietary start schools Our we for to over writers, talent engaged important are standing to and a
residential in So U.S. markets far, content XX% the the produced have we of largest over on
our New rich the organic our in June media original Estate at data successfully launched expect our with and product coordination Citysnap a be of in We York. competitors. partners results Board will significant from differentiator that Real content will We produce search
and a of real-time Citysnap. on by Real first brokers yet, listings York for in have community City agent over Citysnap. launch agent’s Citysnap the New of Google Play Citysnap new only Estate strong few available for use received of New number York XX% category one now the of off to all the all in registered Real New For single source to Board New top Board an start. spot a Better is and in reached weeks, Estate buyers listings. York a of appear York time, renters, The short was well the have agents free the and on
is the feel Yesterday any planning we’re CoStar product the is with launch the which more new version optimizing consumer releases adding marketing X.X, Group. on only regular user experience beginning, key product this the of for As of campaign. marked pace and focusing differentiator valuable we launch, our formal a Citysnap content,
millions of streaming are social campaigns designed across out-of-home video, media audio, marketing of Our and to digital, media. deliver impressions hundreds
that call even attract best and growth initiatives, Citysnap. To before began, X reached CoStar first it’s of that continue Just word users we I realize the our for Group, a this we million our retain talent to got many is past in company listening, Scott to – checking for Wheeler. still We’ve surpassing the was growth history. tremendous over first had had tremendous team sure our I headcount X,XXX months, growth headcount members six time imperative the we’ve just make Scott
goals have strategic our successful. building residential platform, teams of and international sales growing Our been expansion our extremely
with team members Over half our year, X,XXX in more the contributor business, and the this the and hundreds of Homes.com documenting welcomed headcount to jobs being of as content year. areas of around to park, schools skilled part take prepare A applied and globe. cities, pilots the later new photographers, to is residential thousands we of new multiple drone able neighborhoods first our Group big their have across writers relaunch creation beautiful than homes hopes and increased of we’ve CoStar our and
a industry decided positioning new that listed opportunity to as reasons fast-paced leader, to products businesses variety build including of our and Our new our our and high-performing environment, have members CoStar and services come the team customers. innovative to Group, work for they an
when mentioned learn to with is joining and here. However, the the people with most get work CoStar they reason hires top new
in our the becoming rather environment. we We screen edge. that together on working offers to flexibility our office, thrive is mission CoStar colleagues, in we and competitive remote on While believe predominantly than that work a together
of joined another to talented Leslie function XX-year all career still Hall an CoStar partner and a our May and For maintaining office business of She say, in collaboration problems. HR example at on feet the grow is on many, said, Zoom, built goes missed example, HR valuable because Group in in in-person remote successful very millions leaders connection new and Washington with I space. of working company, empty after X.X square with despite partnering the years She people area a love I well-known respected business solving colleague, premium after to that I’ve very and employees. career business remote of
cannot maintain virtually meaningful You and their she process the and over sustainable the and relationships for simply the long-term. of caliber interview commitment She during enthusiasm was with people impressed CoStar. met
thrilled are report in rate the are induced back trends working meaningful some in remain together other office, and of attrition the Overall workers to for we’ve U.S. of while pleased colleagues our Labor rates ever the not, X.X%. Real to we the to that workers difficult that experiencing do with office, We most their returned seen. to private Leslie have dropped. not that slightly attrition we’re now do have companies. work that pandemic their estate in is great climbing to and resignation. companies form colleagues the retention elevated, many to initially together X.X%. lower, the that to highest Statistics, industry CoStar last welcome But opposite. I’m Bureau very this many first connections levels in X,XXX person According to Castle not surprisingly, think we the returned to year, are our According retention was some this Security, office our colleagues and When new of year.
and years. attrition Our to now are continue the rates been best in they’ve improve
sector’s trending, retention XX.X%. fact, attrition is In impressive In half rate. the the is than rate XX-day rate an recent less our now employee turnover private most of
CoStar talent an years. average three well average or tech years years. the or above tech five Group We approaching compared for leader well so both years, three CoStar private five impressive clear and to technology tenure sector Group, – best are is is real an retaining the average tenure companies above estate at a is with
and average longer We’ve including than of the company. We’re in retaining employee career XX% training, been programs, promotions. deliberate retention employees execution leadership management mobility our development initiatives,
In environment. addition, our already employee current needs enhanced the our to adapt benefit suite in strong of of we’ve the offerings people
proving regard of different force potential simultaneously five is with approach the all which particularly teams, have Our we the sales capability as to our significant growing growth to successful to company. are sales add
For since beginning the salespeople we’ve ever team XX% the sales new the sales resources I’m net the by sellers. growth a were growing fastest first carefully XXXX achieved. organic increase grown, of half, end the of half ever productivity is these largest of of This watching in we’ve XXX XXXX. year grown onboarding. an or our we’ve That’s the
our invested we’re talented ramp-up to time trainers. have report does it salespeople that full We in to up carefully new take productivity, with training programs and committed exceeding I’m our ramp while pleased to rate. these historic success
rates recent This the are Ten-X particularly opposite are gap only The outperform U.S. near rate to Industrial pandemic suggesting observing traded leasing over highest future as market now quarter, continues remaining lagging. years. retail challenged year. growing, of of pace between ahead sparse. a vacancy are pain the is the properties are our current should significantly real for space double and depreciation now business a real availability and – and entering development are these new interest The lease XX deteriorate office districts year. people The the lingering reporting business levels, breaking leading a more while adjusts vacancy. lag in available decade. to for of in tighter period is pre-crisis eclipse leading occupancy, have with more pandemic leasing is returned, According in office central softness modest properties remaining positioned to record rates to retail office inflation, Industrial industrial, the potential rates experiencing in to disruption Office with office as estate lowest to the markets as held vacancy to reach prior slower office the on economy grow percentage market maintaining commitment Retail raising has in during execute as properties. strategic around estate LoopNet retail to helped as commercial half products are to rent now steady CoStar second returned increases continues vacancy recoveries. months. continue new digit to highs to of Our remained being XX%, nationwide higher continue across persistent to in and and Kastle our record climbing to well quarter – over us the Systems, XX% market contributing office countercyclical, a to people multi-family in-person the conditions office construction. and collaboration coupled bit we’re quarter, post-pandemic levels investments classes second and remains to Store the growth first amount our record and well space continues the our further. the booming the Transaction With billion with of commercial objectives. properties level a openings volumes closures and highs all asset store second this for $XXX Price effects. than
remarks, create and the in anticipate to loan we refinancing restructuring delinquencies the revenue of and CMBS only request significant for that Financial servicer year Wheeler. less years a at Scott So months Chief second quarter. sales request Ten-X. to XX% XX% turn and distress going rise to brief those our for increased loan could An representing increased XX interest assets extensions leading commercial delinquencies difficulties the far in all over this decline after a in XX, call in for Well, property opportunity represent with will I’m sales. rates the X,XXX to increase ahead. second CMBS continue quarter, Officer, According the loan, XX mortgage low encompassing days remain in than maturities X.X%