WASHINGTON, Nov 14, 2008 /PRNewswire via COMTEX/ -- A press release issued yesterday 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(R) 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
REALTOR(R)-owned and operated MLS.
REALTOR.com(R) has asked ForSaleByOwner.com to issue a retraction. ForSaleByOwner.com did not discuss in advance the statements in their press release with REALTOR.com(R) nor did they request or receive permission to use the REALTOR.com(R) name in their press release.
