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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

Brokerage 344
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Despite industry headwinds, Real believes it can continue growing agent count

Housing Wire

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. With Pro Teams, a team or brokerage firm is able to maintain its own internal economics and commission models.

Agents 420
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DataDigest: 281 Realtors sound off on future of commissions in HousingWire survey

Housing Wire

Ask the average real estate agent or broker in America if they believe the National Association of Realtors (NAR) and brokerages are likely to win the bombshell Sitzer/Burnett commission lawsuit case on appeal. Such an outcome, many predict, could eventually force a disassociation between the Realtor-owned MLSs and the NAR mothership.

Realtors 367
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Q4 BrokerPulse: Commission lawsuits spur proactive changes for real estate brokers

Housing Wire

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Some 22% said they were pessimistic, compared with 14% in the Q3 2023 survey. It ranked No.

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Real estate brokers focus on value amid commission lawsuit unease

Housing Wire

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Some 40% of respondents say they are focusing on educating and training their agents. Technological and Operational Adjustments : While seemingly unrelated, about 2.5%

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Majority of recent homebuyers have regrets: survey

Housing Wire

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We People who are planning to buy a home by the end of 2025 expect to pay $483,490 on average, but 52% of those who have purchased since the start of 2023 have spent more than $500,000.

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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million.

Agents 335