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.

# # #
[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

 

 

 

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