CAMPBELL, Calif., Sept. 16 /PRNewswire-FirstCall/ -- The National
Association of Realtors® (NAR) and Move, Inc. (Nasdaq: MOVE), the
leader in online real estate, today announced recent discussions
related to their 14-year operating agreement have resulted in an
updated agreement intended to drive more competitive and rapid
innovations to their flagship site, Realtor.com®.
The discussions between the two organizations revolved around
bringing clarity and alignment to key issues surrounding site
innovations, content modifications, and approvals so Move and NAR
can drive faster and more competitive improvements on
Realtor.com.
"NAR is pleased to continue and strengthen our agreement with
Move. Updating the operating agreement underlines both NAR's
and Move's commitment to ensure that real estate professionals
remain as the first point of contact in the real estate
transaction," said NAR President Vicki Cox
Golder, owner of Vicki L. Cox & Association,
Tucson, Ariz.
"We're very pleased with the outcome of these discussions with
our partner NAR. We're looking forward to a stronger and more
collaborative relationship guided by an updated agreement enabling
Move to drive more competitive innovations on Realtor.com that will
enhance consumer's search experience while empowering Realtors®
with a greater range of valuable marketing services," said Move,
Inc. Chief Executive Officer, Steve
Berkowitz. "We entered the discussions seeking clarity and
alignment yet achieved much more as we quickly found vast common
ground related to our mutual objective to connect consumers with
Realtors. The internet and competitive environment have
evolved dramatically since our original agreement was crafted in
1996. Under this updated agreement, Move is now positioned to
usher in a new era of innovation. The industry looks to us as the
category leader in today's fast-paced technology-driven market
place."
The updated operating agreement now provides provisions intended
to streamline the development and delivery process for improvements
to site features and functionalities, as well as clarifies certain
areas of content now requiring NAR approval. As a result,
Move anticipates it can make innovations to the Realtor.com site
more rapidly to remain at the forefront of advancement in today's
highly competitive and information-driven environment.
"The agreement continues to ensure certain content protections
for real estate brokers in regards to property listed on
Realtor.com," said Dale Stinton,
chief executive officer of NAR. "In addition, and as a result of
these discussions, approval provisions were added to the agreement
that reflect and reaffirm both organizations' commitment to ensure
that brokers and Multiple Listing Services (MLSs) remain in control
of their proprietary listing data and related information that
displays on Realtor.com."
In addition to the discussions surrounding the operating
agreement, NAR and Move discussed the benefits Move can deliver to
real estate professionals, MLSs, and consumers by syndicating
listing data content to third parties such as online portals, real
estate listing sites and other designated destinations. As a
result, Move received consent from NAR to syndicate listing data
content in accordance with each data content provider's [MLSs and
brokers] permission and instructions.
"Move remains committed to delivering the most valuable online
real estate experience to real estate professionals, advertisers
and consumers by remaining focused on continually evolving our
products and services to meet their diverse needs and
expectations," comments Errol
Samuelson, chief revenue officer for Move, Inc., and
president of Realtor.com. "By updating our operating
agreement with NAR and expanding the relationship to enable a more
competitive approach to how we operate the business, we can fully
leverage our leadership position to deliver the right products and
services with the most comprehensive and freshest data content
available in a manner that successfully connects consumers with
real estate professionals and advertisers at the right time."
The amended operating agreement between Move and NAR was filed
on Thursday, September 16, 2010 as an
8K filing.
ABOUT THE NATIONAL ASSOCIATION OF REALTORS
The National Association of Realtors®, "The Voice for Real
Estate," is America's largest trade association, representing 1.1
million members involved in all aspects of the residential and
commercial real estate industries.
ABOUT MOVE, INC.
Move, Inc. (Nasdaq: MOVE) is the leader in online real estate
with 12.7 million(1) monthly visitors to its online network of
websites. 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 website of the
National Association of REALTORS(R); Moving.com; SeniorHousingNet;
and TOP PRODUCER Systems. Move, Inc. is based in Campbell, California.
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 10.2 million(1) consumers in
August 2010. 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.
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.
(1) comScore Media Metrix, August
2010
SOURCE Move, Inc.
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