Market Leader, Inc. 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): 3/8/2012
Market Leader, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 000-51032
11332 NE 122nd Way, Suite 200, Kirkland WA 98034
(Address of principal executive offices, including zip code)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
On March 8, 2012, Market Leader, Inc. (the Company) entered into an agreement with Century 21 Real Estate LLC (CENTURY 21), a subsidiary of Realogy Services Group LLC (Realogy). CENTURY 21 is the franchisor of the worlds largest residential real estate sales organization with 7,600 independently owned and operated franchised broker offices in 72 countries and territories worldwide.
The agreement with CENTURY 21 is subject to the terms and conditions of the Master Software As A Service (SaaS) Agreement between the Company and Realogy dated February 28, 2012 (Realogy Master Agreement). The Company entered into the Realogy Master Agreement to broadly define business terms for any SaaS agreements between the Company and Realogy affiliates, including CENTURY 21.
Under terms of the CENTURY 21 agreement, the Company will provide a marketing platform to U.S.-based CENTURY 21 agents and offices that includes integrated components for customer relationship management (CRM), lead follow-up, marketing design for print and email, and office dashboards. The initial term of the agreement is two years from the date of product launch, which is expected to occur in the second half of 2012. During the initial term, the agreement requires CENTURY 21 to make minimum payments to the Company of $2.55 million. The Company also expects to generate additional revenue from premium SaaS solutions as well as other technology and marketing services that will be made available to the more than 60,000 CENTURY21 agents and brokerage offices in the U.S.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.