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Realtors® Reaffirm Commitment to realtor.com®
Jul 24, 2013 (02:07 PM EDT)
CHICAGO, July 24, 2013 /PRNewswire/ -- The National Association of Realtors® Board of Directors today reaffirmed NAR's commitment to making realtor.com® the first, best online destination for home buyers and sellers. The board voted in favor of recommendations to modify an existing operating agreement that will help the site compete more effectively in an evolving online marketplace.
"Over the years, Realtors® have invested a lot of time and millions of dollars in building information technology to give consumers online access to real estate information, and we know that consumer demand for all things 'home' has never been greater," said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. "As the most trusted resources for real estate information, Realtors® want realtor.com® to have the resources and flexibility it needs to give consumers what they want while ensuring that today's buyers and sellers can continue to rely on Realtors® for the most accurate, credible market data. We think the proposed changes achieve both goals."
The operating agreement is between NAR subsidiary Realtors® Information Network and Move, Inc. subsidiary RealSelect, Inc. The RIN board sought advice from NAR's BOD because any changes to realtor.com could have a substantial impact on NAR's members. The RIN board met immediately after the NAR BOD meeting, and approved the final recommendations.
"When today's consumer is searching for their dream home, they are utilizing more tools and information than ever before," said realtor.com® President Errol Samuelson, Chief Strategy Officer for Move, Inc. "Today's historic and collaborative recommendation from the NAR board members empowers us to further expand and enrich the consumer experience on www.realtor.com and its mobile applications with greater breadth of content, and to do so with our continuing commitment to the highest level of quality and accuracy for both the real estate community and consumers."
The proposal recommended by NAR's BOD gives realtor.com® more flexibility to identify listings from sources beyond those provided by Realtors®. That includes additional new homes and rental properties. At the same time, the site will reinforce the value of using a Realtor® when buying, selling or investing in real estate, and will give consumers tools to differentiate between Realtors® and real estate agents who are not Realtors®.
"We want consumers to be able to envision their American dreams of homeownership online and then make those dreams a reality in the offline world," said Thomas. "Working together, realtor.com® and Realtors® are making home happen."
Move is hosting their Q2 earnings call on August 1 at 2 p.m. Pacific Daylight Time and will discuss the outcomes of the NAR meeting in more detail on this call. To access the call, please dial 866-652-5200, or outside the U.S. 412-317-6060, five minutes before 2:00 p.m. Pacific Daylight Time. A live webcast of the call will also be available at http://investor.move.com under the Events & Presentations menu.
About Move, Inc.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the "News, Blogs and Video" tab on the website.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.
SOURCE Move, Inc.