New NAR, Move deal sets stage for changes

Move gets more leeway to redesign real estate search site operator Move Inc. and the National Association of Realtors have updated the 14-year-old agreement governing the operation of the Internet’s most popular real estate portal with the goal of allowing more rapid innovation of the site.

Formal negotiations over the 1996 operating agreement, which were initiated by Move in May and ultimately involved a mediator, led to a lengthy amendment that took effect Sept. 10 — the first change to the agreement in more than 11 years.

The amendment to the agreement gives Move more leeway to make changes to the features, design and layout of the site and its user interface without obtaining prior approval from NAR, which owns the domain and Realtor trademark.