There seems to be no end to the real estate bust, especially as the economy continues its descent. Despite this, the online real estate portal, Move, Inc. (NASDAQ: MOVE), continues to plug along.

According to its Q4 results, revenues went from $62.6 million to $57.5 million. Adjusted EBITDA came to $7.3 million, which was down from $9.7 million. Although, this was 27% higher than Q3.

Based on Move's conference call, there is still little visibility as to when the real estate market will stage a comeback. As a result, the company continues to hunker down. For example, Move slashed $20 million in costs over the past two quarters.

Move, Inc. (NASDAQ: MOVE), a leading real estate portal, has had to endure the financial collapse, the plunge in mortgages and the continued deterioration in the housing market. Despite all this, the company continues to get traction.

Just look at the Q3 results. Revenues came to $61.2 million, which compares to $63.4 million in the same period a year ago. Adjusted EBITDA (earnings from before interest, taxes, stock-based compensation and charges, depreciation, amortization and other non-recurring charges) was about $5.7 million. There is about $114 million in the bank.

Move is also continuing to find ways to boost cash flows. For example, the company is in the process of reducing expenses by $20 million per year, which would be a big boost.

At the same time, Move is taking steps to remain competitive and provide its users with a better experience. To this end, the company launched a redesign of its website. In fact, during September the Realtor.com site saw a 17% increase in total minutes spent on the destination.

For the most part, there is a major shift in marketing expenditures from traditional to online platforms. True, this is being muted because of the rough environment. But when things start to improve, Move will certainly be poised to capitalize on the growth.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market. He is also the founder of BizEquity, a valuation website.

I recently did a post talking about the big market potential for local online advertising and how it will be different from national search. For example, companies with "feet on the street," such as AutoTrader.com, may be big beneficiaries.

Well, another big beneficiary could be Move.com. Actually, the company has expanded its coverage -- including the whole real estate cycle, such as buying a home, financing, moving, etc.

But will Google or other search engines beat back Move.com?  Probably not.  Move.com has an exclusive agreement with the nationwide Multiple Listing Service. In fact, Move.com has more than three million listings.

Moreover, Move.com has partnerships with AOL (a division of Time Warner (TWX)), MSN (part of Microsoft (MSFT) and Yahoo! (YHOO) for distribution.
 
I talked to Move.com's EVP of corporate development, Allan Merrill, who believes more money will come into the online real estate market.  "Consumers have moved online, with more than 77% of buyers saying they used the Internet as their primary research media," he said. "But buoyant market conditions over the past several years have not been conducive to stimulating change in marketing behaviors. That is changing as markets slow and both buyers and sellers expect to see more online. Move surveyed thousands of consumers. Buyers want to see more photos and virtual tours, and better mapping and more neighborhood information."

In other words, as the online ad market continues to grow, it's not just the big players who will get the spoils. Increasingly, niche sites – like Move.com – will bring more to the table and have a chance to ride the growth wave.  

Link:

Interview with Move.com's EVP of corporate development, Allan Merrill