Realtor.com, AOL in Listings Deal
Realtor.com and America Online will announce an exclusive deal today to make more than 1 million real estate listings available to AOL members as well as on the World Wide Web. Realtor.com, which is operated by privately held RealSelect of Westlake Village, will receive at least $14 million in payments from AOL over three years, and both companies will share in advertising and transaction revenue. Realtor.com also plans to announce exclusive distribution agreements with InfoSeek, Lycos and Athome Network. AOL shares fell $2.06 to close at $72.75 on the New York Stock Exchange.
For the record:
12:00 AM, Apr. 24, 1998 California: News and Insight on Business in the Golden State THE STATE Correction . . .
Los Angeles Times Friday April 24, 1998 Home Edition Business Part D Page 2 Financial Desk 2 inches; 41 words Type of Material: Brief; Correction
A brief in Thursday’s paper incorrectly described the transaction between Realtor.com and America Online. Realtor.com, operated by privately held RealSelect of Westlake Village, said it will pay $14 million to become the exclusive provider of real estate listings for America Online.