Blog - Info About REALTOR.com

A press release issued on Wed., Nov. 12, 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:

1) The settlement agreement between NAR and the U.S. Department of Justice made no provision to allow unlisted properties, such as "for-sale-by-owner," to be posted on REALTOR.com.

2) 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.

3) REALTOR.com has not authorized ForSaleByOwner.com to resell REALTOR.com's Showcase Listings Enhancement package.

4) There is no relationship between ForSaleByOwner.com and REALTOR.com.

5) 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 its press release with REALTOR.com® nor did it request or receive permission to use the REALTOR.com® name in its press release. For more information contact Lucien Salvant 202/383-1176.

 


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Time to Set the Record Straight
 Posted in Info About REALTOR.com on November 17th, 2008 at 9:42 AM


In response to last Thursday's Blog -

The Newsweek Press release re Realtor.com raised some eyebrows and understandable so. When I saw it, not only did it seem like an improbable relationship, I was surprised that I did not see a press release from Move or NAR because that is normal procedure when announcing partnerships or alliances.I made contact with people I know at the highest levels at both NAR and Realtor.com and in a nutshell, this is the response:1. This announcement was issued without REALTOR.com's knowledge or participation and unfortunately is misleading to both consumers and the REALTOR community. We've asked ForSaleByOwner.com to issue a retraction today.2. There is no formal relationship between ForSaleByOwner.com and REALTOR.com.3. While there are many perspectives regarding the DOJ-NAR settlement, it is our opinion that the settlement agreement made no provision to allow unlisted properties, such as "for-sale-by-owner," to be posted on REALTOR.com.4. In order for a listing to appear on REALTOR.com, it needs to be placed in an MLS. As a result, every property on REALTOR.com must be listed by a licensed real estate broker.From what we understand, ForSaleByOwner.com is using the following process: ForSaleByOwner.com is working with licensed Brokers who enter the listings on an MLS. In turn, the MLS sends the listings to REALTOR.com and we display them on the site. Thus, such ForSaleByOwner.com listings are no longer "For Sale By Owner" listings, but in fact Broker represented Saul Klein  President/CEO, InternetCrusade 


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FSBOs Get Agent-free Access to Realtor.com
 Posted in Info About REALTOR.com on November 13th, 2008 at 4:02 PM


November 12, 2008 06:45 PM ET | Luke Mullins |

Updated on 11/13/08: An earlier version of this story described ForSaleByOwner.com’s new service as a "partnership" with Realtor.com. While the service does allow non-agent-affiliated sellers to advertise their homes on Realtor.com, it does not represent a formal partnership.ForSaleByOwner.com, a Web-based company that markets the homes of independent sellers, has unveiled a new service product that allows customers to list their homes on the popular Realtor.com real estate site without having to go through a local multiple listing service. From the press release: ForSaleByOwner.com today announced that it has become the nation’s first "by owner" real estate website to enable home sellers to advertise their home on Realtor.com without appearing on a local Multiple Listing Service (MLS). This new direct access to Realtor.com follows the May 2008 settlement between the U.S. Department of Justice and the National Association of Realtors. "The DOJ-NAR settlement benefited consumers by giving them access to Realtor.com without the expensive cost of a commission fee," said Greg Healy, Vice President of Operations at ForSaleByOwner.com. "We're proud to be the first to offer this new consumer-friendly access to Realtor.com. In today's challenging housing market, sellers need cost-saving ways to sell their homes." "Our typical home seller saves nearly $13,000 in commission and this new access to Realtor.com will help even more people sell their home without using the services of a real estate agent," added Healy. Realtor.com is a popular real estate website that attracts nearly five million monthly visits. The new Realtor.com Showcase Listing service from ForSaleByOwner.com will allow sellers to have their homes marketed on Realtor.com, and interested buyers will be able to directly contact these sellers.


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