Realtor Information Network (RIN) REALTOR.COM

Changes for and NAR as a Result of Special Meeting

The RIN board (a wholly owned subsidiary of NAR) has approved amending the operating agreement with RealSelect (a wholly owned subsidiary of MOVE) in three fundamental ways:
1. Amending the restriction that says Move may display only listings that have been sourced from REALTOR®-owned and controlled MLSs or from REALTORS®. Under the revised agreement, Move will be able to obtain listings from entities that are not REALTOR®- owned and controlled and from brokers who are not REALTORS®.

2.Amending the restriction on unlisted properties. The revised agreement will allow the display of unlisted new homes and new home communities and will allow the display of unlisted properties that are for rent. Individual consumer FSBOs remain precluded from the site.

3. Amending the requirement for listing broker’s consent for the foreclosure status of a listing to be displayed. Under the revised agreement, unless the listing broker objects, Move/RealSelect will have the ability to identify:
• Properties where notice of default has been recorded
• Auctions of distressed properties
• Short sales
• Foreclosures
• Bank-owned properties

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