Online retailer Overstock is making a move into the real estate market with its relaunch of Houserie, a real estate property management website the company purchased in February. CNN Money reporter Paul La Monica says the site will be geared towards landlords with services such as background checks and rent payment management. Houserie will eventually become part of a larger real estate platform that the company aims to launch in the fall and will include more information on renting, buying, and managing properties.
"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, Overstock's senior vice president of strategy, in a statement.
Moore said the site will help people who are searching for a new house or are in the process of relocating, while also selling them furniture to match their new home "more seamlessly."
This isn't the first time Overstock has made a move into the real estate business. It set up a real estate search site in 2008, only to close it down in 2011.
But the renewed push into real estate is yet another example of how Overstock is trying to diversify beyond retail, particularly through bitcoin.Read More