Move, Inc.-Zillow Lawsuit Settled

Move, Inc.-Zillow Lawsuit Settled

WASHINGTON – June 14, 2016 – (RealEstateRama) — We are pleased that Zillow has agreed to a settlement amount of $130 million in damages instead of going to trial, and that the parties have reached an amicable resolution.

NAR’s relationship with Move, Inc., and realtor.com® is based on a mutual respect for Realtors® and their efforts to bring online home buying and selling resources to consumers.

Move will receive the bulk of these funds; it is NAR’s hope that they will invest this money in initiatives that enhance the consumer experience on realtor.com® and benefit our members in support of the Realtor® brand.

NAR will receive 10 percent of the settlement payment after Move deducts its legal fees; Move covered the costs of the lawsuit.  After this amount is determined, NAR’s Leadership Team will consider how best to apply those funds in service of NAR’s Realtor® members; we will share that information as soon as a decision is made.

Read REALTOR® Magazine’s story on the settlement.

MEDIA CONTACT: SARA WISKERCHEN / 202-383-1013

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With more than 1.3 million members, the National Association of REALTORS (NAR) is the voice for real estate. Visit REALTOR.org to see how our real estate resources can benefit you.

REALTOR® magazine (http://www.realtor.org/realtormag) is the official magazine of the NATIONAL ASSOCIATION OF REALTORS® and the business tool for real estate professionals.

The magazine advances real estate best practices, brings expert insight to significant trends, and provides REALTORS® with timely decision-making tools on business purchases and strategies.

Contact:

Walt Molony
202/383-1177

1-800-874-6500

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