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
