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 NAR
The National Association of
Realtors®, "The Voice for Real Estate," is America's
largest trade association, representing 1 million members involved
in all aspects of the residential and commercial real estate
industries.
About realtor.com®
Operated by Move, Inc.,
(NASDAQ: MOVE), realtor.com® helps connect people with
the content, tools and expertise they need to find their perfect
home. As the official website of the National Association of
Realtors®, realtor.com® empowers
consumers to make the smartest decisions when it comes to finding a
home by leveraging direct connections with more than 800 MLSs to
deliver the most accurate and up-to-date listing information in
neighborhoods across the country, and by making timely and
meaningful connections between consumers and
Realtors®. Whether through its desktop, mobile, or
tablet version, realtor.com® is where home happens.
About Move, Inc.
Move, Inc. (MOVE) is the leader
in online real estate and operator of realtor.com®, the
official website of the National Association of
Realtors®; Move.com, a leading destination for new homes
and rental listings, moving, home and garden, and home finance;
ListHub™, the leading syndicator of real estate listings;
Moving.com™; SeniorHousingNet; SocialBios; TigerLead®;
and TOP PRODUCER® Systems. Move, Inc. is based in
San Jose, Calif.
Forward-Looking Statements
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.
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.