For more information, contact:
Lucien Salvant 202/383-1176 lsalvant@realtors.org
Julie Reynolds 805/557-3080 julie.reynolds@move.com
NAR, Realtor.Com® Set Record Straight on Erroneous FSBO Claims
WASHINGTON, November 14, 2008
A press release issued Wednesday by ForSaleByOwner.com contained inaccuracies and misleading statements about its ability to place unlisted for-sale-by-owner information on REALTOR.com, the official Web site of the National Association of Realtors® operated by Move Inc.
NAR and REALTOR.com are setting the record straight with the following clarifications:
· The settlement agreement between NAR and the Department of Justice made no provision to allow unlisted properties, such as "for-sale-by-owner," to be posted on REALTOR.com.
· ForSaleByOwner.com does not in any way enable home sellers to advertise their home on REALTOR.com without broker representation. Every property on REALTOR.com must be listed by a licensed real estate broker.
· REALTOR.com has not authorized ForSaleByOwner.com to resell REALTOR.com's Showcase Listings Enhancement package.
· There is no relationship between ForSaleByOwner.com and REALTOR.com.
· There are no unrepresented homes on REALTOR.com - every property on REALTOR.com must be listed by a licensed real estate broker, and unrepresented properties would not qualify to be submitted to a REALTOR® owned and operated MLS.
REALTOR.com® has asked ForSaleByOwner.com to issue a retraction. ForSaleByOwner.com did not discuss in advance the statements in their press release with REALTOR.com® nor did they request or receive permission to use the REALTOR.com name in their press release.
About REALTOR.com®
REALTOR.com®, where the world shops for real estate online, is operated by Move Inc., (NASDAQ: MOVE) and is the official Web site of the National Association of Realtors®. Ranked as the #1 homes-for-sale site, REALTOR.com® currently offers potential home buyers access to over four million property listings, as well as the most brokers and agents. It also provides Realtors® and the home sellers they represent with the Internet's largest real estate marketplace, reaching more than 6.6 million consumers in September 2008.[1] Agents and companies have the power to customize REALTOR.com® resources to maximize their brand and productivity.
REALTOR® and REALTOR.com® are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS®. REALTOR® is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. All other trademarks appearing above are the property of Move Inc., or of their other respective owners.
About Move Inc.
Move Inc. (NASDAQ: MOVE) is the leader in online real estate with 8.8 million[1] monthly visitors to its online network of Web sites. Move Inc. operates: Move.com®, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com®, the official Web site of the National Association of REALTORS®; Welcome Wagon®; Moving.com; SeniorHousingNetTM; and TOP PRODUCER® Systems. Move Inc. is based in Westlake Village, Calif., and employs more than 1600 individuals throughout North America. For more information: www.move.com.
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