NAR, Realtor.Com® Set Record Straight on Erroneous FSBO Claims

 

[From NAR]

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; SeniorHousingNet™; 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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[1] comScore Media Metrix, October 2008
This press release may contain forward-looking statements, including information about management’s view of Move’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.

________

Althea Garner

Executive Real Estate

House Of Homes Online

http://www.HouseOfHomesOnline.com

 

 

 

The Property Market and Election Day!

Well,  here I sit at Kansas City airport, awaiting my connecting flight to Orlando for the Women’s Council of Realtors National conference.  It’s been a long day of travel – was up at 5.30am, so I could be at the polling station to vote before getting to the airport in Los Angeles by 8.30am!

The election has been on my mind all day as I can’t pick up regular news reports on travel day.  Among those thoughts are: HOW WILL THE ELECTIONS AFFECT THE PROPERTY MARKET?

Now I don’t have a crystal ball and I am no more claivoyant than the next person, but something in my bones tells me that we will see a slight increase in sales once the results come out.  Realistically, no matter who you voted for, some people will feel victorious while others will be ticked that their candidate didn’t get elected.  Those whose candidate was elected will feel a surge of promise and hope and – if they are in the market to buy property – they will accept that now is a good time to buy!

For those whose candidate was defeated: perhaps they will decide not to buy, but, they were sitting on the fence anyway. In other words, they hadn’t bought and now won’t – situation unchanged.

It’s six of one and half a dozen of the other, really – those who were going to buy, will and those who were undecided, won’t!  In both cases,  the election results will simply provide the justification to act in whichever direction they are going.

Whoever moves into the Oval Office, MUST see that something MUST be done about our economy. Clearly, we can’t keep spending money that we (the US) doesn’t have.  Since being in this country (15 years, now) I have seen the government encourage consumer spending and the banks encourage the use of credit.  Hey!  Banks have even issued credit cards to students with little or no credit rating!

So now that the US consumer is accustomed to living off plastic,  the banks have run out of money and the consumers can’t repay their loans because the interest rates were so high and we have reached an empasse!

Will the incoming administration realize that there are too many banks?  That interest rates have brought the life blood of this country (the consumers) to its knees?

My fervent wish is that whoever is successful in winning the Presidential race, will be less inclined to leap back into war, and more able to count to ten and add 2 + 2.  What our country needs most at this time is a leader who has a basic understanding of bookkeeping and can see and understand that you can’t keep spending money that you don’t have!

If I were able to advise our new leader,  I would suggest that ALL interest on credit card debt be eliminated for one year so that consumer payments could be applied to principle.  Let’s face it:  banks have made a mint out of credit card users.  Now is the time to be realistic and objective – if the consumers have had to pull in their belts, then why not the banks, too?

Cash has to start flowing somewhere and better for it to start flowing from where it has bottlenecked – the government and the banks.

 

Althea Garner

Executive Real Estate

House Of Homes Online

http://www.HouseOfHomesOnline.com