Think real estate agent and broker dues help keep the lights on at realtor.com? Think again. News Corp. subsidiary Move Inc. has paid the National Association of Realtors $9 million for the right to operate realtor.com in the last five years -- nearly $2 million every year. NAR also received substantial consideration when Move was sold to News Corp. more than two years ago because the trade group held 1.92 percent of Move’s common stock and its only share of Series A preferred stock, according to a regulatory filings. Realtor.com, the second most-popular real estate website nationwide, is owned by NAR. But Move subsidiary RealSelect runs the site on behalf of the million-member trade group under the terms of a 1996 operating agreement. How much does Move pay? According to the agreement, Move is obligated to make license fee payments set to the annual Consumer Price Index to NAR every year. Move paid license fees of about $1.84 million and $1.85 million to NAR in 20...
- Move Inc. has paid the National Association of Realtors $9 million in license fees the last five years for the right to operate realtor.com.
- Under their agreement, Move operates the site on behalf of NAR and gets to make money from the site in exchange.
- The license fees Move pays NAR go into enforcing NAR's rules on the site, according to NAR CEO Dale Stinton.