The National Association of Realtors is launching the very first domain name to be used strictly by real estate professionals: .REALTOR. Originally announced in June 2012, the domain name will launch on Oct. 23. Plus, NAR is offering the first .REALTOR domain name for free to the first 500,000 members who register. Although the number of domain names available is unlimited, only National Association of Realtors members can claim them.
NAR is also working with realtor.com on this project, which will provide a free profile when agents sign up for a domain name. The first 500,000 NAR members to register a domain name will receive it free for one year. After that year, and for members who do not obtain a free domain name, the cost will be $39.95 per year, but discounts will be offered regularly. Agents can sign up for a domain now, and can buy as many as they would like, but it will not be active until Oct. 23.
According to Inman News, each domain application cost $185,000, which was paid for by NAR’s strategic partner, Second Generation Ltd., a Cleveland-based investment firm that also owns and operates the .jobs top-level domain sponsored by the Society for Human Resource Management. NAR partnered with Second Gen on the application, review and development process of the .REALTOR domain for more than seven years, and now, it will finally be available.
Ken Burlington, the COO of Realtors Information Network (RIN) and vice president of NAR, says there are two reasons why NAR has made a .REALTOR domain name. The first is an attempt to make sense out of all the real estate information on the Internet. Second, NAR wants to help consumers find valued and trusted sources through .REALTOR.
Burlington says that by creating .REALTOR, it will allow NAR to leverage a $5 billion dollar brand so users can confidently choose dependable real estate agents. “It won’t happen overnight, but long-term, this could very well change the industry,” Burlington said. “NAR is very excited about this initiative. It is a wonderful thing for members to utilize, now and in the long-term,” Burlington said. “It will establish stronger relationships with consumers and trusted sources, and we believe that this will change the way that information is displayed on the Internet. We’re at the forefront, and it’s not only exciting for our future, but for the future of our members and consumers.”