Qualified Remodeler Magazine

JUN 2017

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

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Page 12 of 60

the Angie's List brand and audience with HomeAdvisor's network of paying service professionals and a consumer product driving seven consecutive quarters of do- mestic revenue growth. The transaction has been approved by the board of direc- tors of both companies and is expected to close in the fourth quarter of 2017. HomeAdvisor's CEO Chris Terrill will assume the role of CEO of ANGI Homeservices Inc., whose headquar- ters will be based out of HomeAdvisor's Golden, Colorado, location. IAC CEO Joey Levin will also serve as chairman of the board of directors. Thomas R. Evans, cur- rent chairman of the board of directors of Angie's List, and Angie Hicks, Angie's List co-founder and CMO, are expected to join the board of ANGI Homeservices Inc. "The combined company will be able to leverage its joint models and resources to not only accelerate market penetration, but also continued online conversion of that marketplace," Terrill says. The companies noted key benefits of the union will include: • Scale: Homeowners will be able to tap into North America's largest combined network of active professionals be- tween HomeAdvisor's network of more than 156,000 and Angie's List's network of more than 55,000. • Product innovation: HomeAdvisor's technology and products—including Instant Booking and Instant Connect— will enhance user experience for both HomeAdvisor and Angie's List. • Monetization: Applying HomeAdvisor's existing operating model to Angie's List's direct audience will help drive incremental jobs to the combined ser- vice professional network and increase combined revenue. • Growth: HomeAdvisor can accelerate growth with this leap in scale on both the supply and demand side of the home services marketplace. "We have found a true partner in IAC and HomeAdvisor that we believe will create tremendous shareholder value for Angie's List," Evans says. "Together, we uniquely benefit from the powerful com- bination of two market leaders, who, by joining forces, can drive incredible innova- tion, customer satisfaction and category growth." | adults delay moving out on their own, get- ting married and having children. Delaying these life events may also mean delaying homeownership. Contrasting the living arrangements of young adults in 1975 and 2016 shows the percentage of young adults living with a spouse or unmarried partner has fallen from 58 percent in 1975 to 39 percent in 2016. It is reasonable to expect that as these young adults age, they will take part in home buying, but we might need to wait until the most populous age cohort gets a little older before they start ramping up their home buying. Remodelers Advantage acquires Field Training Services Remodelers Advantage, a support and training organization for remodeling business owners, is expanding operations through the acquisition of Field Training Services (FTS), a company dedicated to "Improving the Bottom Line Through Production Training." As part of the acquisition agreement, FTS founder Tim Faller will join the Remodelers Advantage staff as a full-time senior consultant. To celebrate this event, Remodelers Advantage is sending Faller on a six- month, seven-city tour across the U.S. Each stop of "Tim Tour 2017" is an exclu- sive two-day, on-site visit at your compa- ny's office and focuses on the production personnel and systems of your company. Because this is a one-on-one person- alized training opportunity, there is only one slot available per date. For a complete schedule of cities and dates, visit remod- elersadvantage.com/timtour2017. Agreement reached to combine HomeAdvisor, Angie's List IAC and Angie's List announced they have entered into a definitive agreement to combine IAC's HomeAdvisor and Angie's List into a publicly traded company that will be called ANGI Homeservices Inc. The combined business, which will maintain both Angie's List and HomeAdvisor brands, pairs the power of Department of Labor and OSHA related to the final recordkeeping rule. The lawsuit claims the rule overreaches and violates businesses' rights under the First and Fifth amendments to the U.S. Constitution. It also argues that the infor- mation's publication—OSHA plans to post some of the reported data to its website as a type of public disclosure—won't ac- tually impact workplace safety or health, but instead could create "reputational harm," says Ed Brady, chairman of NAHB and a homebuilder and developer from Bloomington, Illinois. Census reports give insights on housing market trends Originally posted at corelogic.com by Molly Boesel, principal economist for CoreLogic in the Office of the Chief Economist: The U.S. Census recently released a treasure trove of data, including popula- tion by age, homeownership rates, and a report on the changing demographics of young adults. Taken together, these three reports give us insight into current and future housing market trends. The Census release on 2016 population reveals the most populous age in the U.S. is 25 years old, at almost 4.8 million peo- ple. The largest three age groups are 24 to 26, with 14.2 million Americans combined. Common wisdom would tell us that these young adults will be heading into the homeownership market soon. In this year's first quarter, the homeownership rate was 34.3 percent for households led by people under 35. Although that's lower than the rate for other age groups, applied to the sheer size of the young adult pop- ulation, it translates into large numbers of potential homebuyers. Coming of age in the time of the Great Recession may have shaped the attitudes of young adults, and home affordability might stand in the way of young adults setting up households and buying their own homes. The new Census report titled, "The Changing Economics and Demographics of Young Adulthood: 1975- 2016," discusses how reaching the mile- stones of young adulthood (those aged 18 to 34) has changed over the past 40 years. The report finds that compared with previous generations, today's young 12 June 2017 QR QualifiedRemodeler.com IN BRIEF

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