CoStar Group has appointed Steve Price as President of Ten-X, its digital commercial real estate auction platform. Price joins after 12 years at Auction.com, where he most recently served as Executive Vice President of Foreclosure Auction Services, and previously spent a decade at Bank of America. Ten-X will operate as a standalone brand with its own leadership team, while auctions remain available on CoStar and LoopNet, and CoStar Group plans to relaunch the Ten-X website with direct bidding functionality. CoStar Group CEO Andy Florance said the move is part of a strategy to innovate, grow revenue, and regain share in the online real estate auction space.
CoStar Group IncAppointment of new president to lead Ten-X and relaunch website aims to grow revenue and regain share.
Bank of America CorpCoStar's strategic move to regain share in online auction space directly competes with Auction.com.
