Updated on 11/13/08: An earlier version of this story described ForSaleByOwner.com’s new service as a “partnership” with Realtor.com. While the service does allow non-agent-affiliated sellers to advertise their homes on Realtor.com, it does not represent a formal partnership.
ForSaleByOwner.com, a Web-based company that markets the homes of independent sellers, has unveiled a new service product that allows customers to list their homes on the popular Realtor.com real estate site without having to go through a local multiple listing service.
From the press release:
ForSaleByOwner.com today announced that it has become the nation’s first “by owner” real estate website to enable home sellers to advertise their home on Realtor.com without appearing on a local Multiple Listing Service (MLS). This new direct access to Realtor.com follows the May 2008 settlement between the U.S. Department of Justice and the National Association of Realtors.
"The DOJ-NAR settlement benefited consumers by giving them access to Realtor.com without the expensive cost of a commission fee," said Greg Healy, Vice President of Operations at ForSaleByOwner.com. "We're proud to be the first to offer this new consumer-friendly access to Realtor.com. In today's challenging housing market, sellers need cost-saving ways to sell their homes."
"Our typical home seller saves nearly $13,000 in commission and this new access to Realtor.com will help even more people sell their home without using the services of a real estate agent," added Healy.
Realtor.com is a popular real estate website that attracts nearly five million monthly visits. The new Realtor.com Showcase Listing service from ForSaleByOwner.com will allow sellers to have their homes marketed on Realtor.com, and interested buyers will be able to directly contact these sellers.