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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  November 14, 2008  |   NAR: ForSaleByOwner.com Statement Misleading
A press release issued Nov. 11 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 REALTORSŪ.

REALTOR.com is 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 REALTORŪ-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.

NAR

READ MORE

Blog: What ForSaleByOwner.com said is SO not True!





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