Zillow to Pay $130 Million to NAR’s Move, Inc.

Move, Inc. and Zillow Reach Settlement Agreement

By Jeff Sorg, OnlineEd Blog

canstockphoto0389625 handshake(June 7, 2016) – The National Association of REALTORS is reporting in a press release that Zillow Group, Inc. has agreed to a settlement amount of $130 million in damages instead of going to trial to settle a 2014 lawsuit alleging misappropriation of trade secrets. Zillow Group and Move, Inc. are both reporting that they have reached an amicable resolution.

Move will receive the bulk of these funds but NAR hopes that they will invest this money to enhance the consumer experience on realtor.com® and benefit our members in support of the REALTOR® brand.

NAR reported that it will receive 10 percent of the settlement payment after Move deducts its legal fees, since 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.

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Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.