Housing Wire

NOVEMBER 30, 2023

An attorney for the plaintiffs, Robert Braun of Cohen Milstein Sellers & Toll, asked Wood if she would be willing to set a trial date for the third quarter of 2024. 19, 2023, deadline for submitting things like motions for summary judgment. “We The suit received class-action status in March 2023.

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Legal Sellers Realtors Law 388

Housing Wire

APRIL 5, 2024

has ruled that the Department of Justice can reopen its investigation into the National Association of Realtors. In Walker’s view, “the sole question is whether DOJ is correct that it could have immediately reopened its investigation of the Realtors’ two remaining policies after contracting to close that investigation.

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Realtors Contracts Government Real Estate 536

Housing Wire

FEBRUARY 28, 2024

The watchdog group reached this conclusion in a report released Tuesday, in which the group examined 43 different contracts from 37 states, with most of the sample contracts coming from state or local Realtors associations. This provision has the potential to inflate seller or buyer costs,” the report states.

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Buyers Contracts Agents Realtors 344

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

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Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., The Gibson suit was filed in late October 2023 by Michael Ketchmark, just after a Missouri jury ruled in favor of his clients in the Sitzer/Burnett suit that found real estate industry players liable for colluding to artificially inflate agent commissions.

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Realtors Real Estate Brokerage Law 326

Housing Wire

SEPTEMBER 5, 2023

According to court documents filed on Tuesday, Anywhere Real Estate and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. A trial date has yet to be set for the Moehrl lawsuit. “We

Real Estate 414

Real Estate Buyers Legal Realtors 414

Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. Burton sold her house with the help of a local Keller Williams agent in Spartanburg, South Carolina, in September 2023.

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Sellers Realtors Buyers Agents 400

Housing Wire

MARCH 29, 2024

In its motion filed on Wednesday, CMLS said its amicus curiae brief is in repsonse to the Department of Justice’s statement of interest which was filed in early February in relation to the proposed settlement agreement reached by the Nosalek plaintiffs and defendant MLS Property Information Network in July 2023.

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Sellers Real Estate Buyers Contracts 406

Housing Wire

APRIL 4, 2024

Despite settlement agreements from Anywhere , RE/MAX , Keller Williams , Compass and the National Association of Realtors (NAR), the copycat commission lawsuits keep coming. She is also filing the suit as both a home seller and a homebuyer. District Court for the Eastern District of California in Sacramento.

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Realtors Agents Sellers Real Estate 325

Housing Wire

APRIL 26, 2024

The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages collectively pay hundreds of millions of dollars in damages and make large-scale changes to longstanding commission policies.

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Brokerage Agents Real Estate Buyers 425

Housing Wire

APRIL 16, 2024

The second Batton suit was filed in November 2023, just days after the jury verdict in the Sitzer/Burnett suit was announced, and the defendants include Compass , eXp World Holdings , Redfin , Weichert Realtors, United Real Estate , Howard Hanna and Douglas Elliman.

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Real Estate Realtors Law Legal 328

Housing Wire

MARCH 8, 2024

District Court in New Orleans, home seller plaintiff Joseph C. The lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit. “The In 2023, it ranked as the No. In a lawsuit filed on Tuesday in U.S. Latter & Blum did not return a request for comment.

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Brokerage Sellers Realtors Agents 350

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. A little over a year later, in mid-June 2023, the three parties involved in the suit, all filed motions for summary judgment on at least some issues, if not the entire lawsuit.

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Advertising Brokerage Real Estate Legal 359

Housing Wire

MARCH 27, 2024

2023, denied the HomeServices defendants’ motion to decertify the class. At the time, the defendants in the suit, which included HomeServices, as well as the National Association of Realtors , Keller Williams , Anywhere , and RE/MAX , requested that the Eighth Circuit court of appeal review the class certification order.

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Law Sellers Realtors Contracts 344

Housing Wire

MARCH 19, 2024

billion in damages awarded by a jury in late October 2023. million in funds that resulted from the settlement agreements reached by Anywhere , RE/MAX , Keller Williams and the National Association of Realtors (NAR). 1, 2023) at the rate of 5.4% The plaintiffs then subtracted the $626.5 per year, compounded annually.

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Sellers Realtors Law Contracts 317

Housing Wire

AUGUST 17, 2023

Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. In the order, Zilly noted that NAR’s No-Commingling Rule was optional and that about 29% of Realtor-affiliated MLSs had not adopted the rule, without any repercussions from NAR.

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Advertising Legal Brokerage Realtors 359

Housing Wire

JANUARY 8, 2024

A bevy of copycat commission lawsuit plaintiffs are looking to consolidate their nine suits in Missouri under Judge Stephen Bough, who over saw the Sitzer/Burnett commission lawsuit trial in October 2023. 31, 2023, and Dec. In a filing dated Dec.

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Real Estate Realty Real Estate Agent Legal 312

Housing Wire

NOVEMBER 20, 2023

Some of these provisions include no longer requiring agents to be members of the National Association of Realtors or following NAR’s Code of Ethics or the MLS Handbook. 22, 2023, to schedule final approval hearing. The terms of the settlement agreements require RE/MAX and Anywhere to pay $55 million and $83.5 said in a statement.

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Legal Real Estate Agents Realtors 364

Housing Wire

MAY 21, 2024

The National Association of Realtors (NAR) has petitioned a circuit court of appeals in Washington, D.C., In late January 2023 , Judge Timothy Kelly of the U.S. The DOJ appealed the ruling in March 2023, and the three-judge panel heard oral arguments from NAR and DOJ in early December 2023 before making a ruling in April 2024.

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Government Contracts Realtors Law 349

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

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Real Estate Sellers Realtors Real Estate Agent 392

Housing Wire

SEPTEMBER 28, 2023

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

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Advertising Legal Law Real Estate 375

Housing Wire

FEBRUARY 22, 2024

In early September 2023, Steve Murray , the co-founder of RealTrends Consulting , told HousingWire that he believed this was a possible outcome. The outcome the DOJ wants would only reduce costs for sellers, but it Is going to put buyers in a hole,” Murray said.

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Sellers Buyers Real Estate Agents 412

Housing Wire

APRIL 8, 2024

Filed in late 2023 in Missouri by Daniel Umpa, a Maryland home seller, the Umpa suit , like the other commission lawsuits, accuses real estate industry players, including Real, of conspiring to artificially inflate real estate agent commissions. The Real Brokerage closed $14.4

Brokerage 344

Brokerage Real Estate Agent Real Estate Clients 344

Housing Wire

MARCH 28, 2024

The DOJ’s statement of interest, which was filed in mid-February, was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS Property Information Network (MLS PIN) in July 2023. DOJ’s apparent change of heart in its [statement of interest] in this case is striking,“ NWMLS wrote in the draft of its brief.

Sellers 328

Sellers Contracts Buyers Realtors 328

Housing Wire

NOVEMBER 7, 2023

Compass surprised positively in the third quarter of 2023 by posting a number of strong results. That’s a 4% year-over-year increase of 511 principal agents since Q3 2022 and a 3% increase of 422 agents compared to the second quarter of 2023. The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3.

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Agents Real Estate Agent Realtors Brokerage 329

Housing Wire

JANUARY 22, 2024

At the time of Friedman’s transaction, REBNY, despite not being affiliated with the National Association of Realtors , had a rule similar to NAR’s Participation Rule, that required the listing broker to split the commission they earned in a home sale transaction with the buyer’s broker. The rule went into effect on the first of this year.

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Real Estate Agent Real Estate Agents Sellers 376

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

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Sellers Buyers Real Estate Contracts 422

Housing Wire

MAY 1, 2024

When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. 16 to implement these changes. 16 to implement these changes. It is not about our own needs.

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Realtors Real Estate Agent Real Estate Brokerage 323

Housing Wire

JANUARY 11, 2024

In the lead up to the Sitzer/Burnett real estate commission trial , the National Association of Realtors expected to prevail. “I There was industry-wide shock when the Missouri jury found NAR, Keller Williams and HomeServices of America liable for colluding to artificially inflate real estate agent commissions. “But

Real Estate Agent 420

Real Estate Agent Real Estate Buyers Agents 420

Lamacchia Realty

DECEMBER 18, 2023

AGENT VS. REALTOR: WHY THE DIFFERENCE MATTERS Often, we hear the terms “real estate agent” and “REALTOR ®” being used synonymously. To the everyday buyer and seller , they may not think there is much of a difference between the two. The National Association of REALTORS® (NAR) is America’s largest trade association with over 1.5

Realtors 68

Realtors Agents Real Estate Agent Real Estate 68

Housing Wire

FEBRUARY 22, 2024

Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers. months as of December 2023), and implementing measures to moderate home price appreciation, fostering increased affordability. HW: What are the risk management challenges for REO assets?

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Business Marketing Real Estate Legal 337

Lamacchia Realty

DECEMBER 11, 2023

THE HIDDEN COSTS OF SELLING YOUR HOME WITHOUT A REALTOR® There is no denying it, the housing market has been a rollercoaster over the last several years. From the Covid-19 driven frenzy in 2020 to the significant inventory slowdown this year , buyers , sellers , and agents have all had adapt and grow comfortable with change.

Realtors 71

Realtors Real Estate Agent Sellers Realty 71

Housing Wire

FEBRUARY 27, 2024

Filed in late 2023 in the U.S. District Court for the Western District of Missouri , the lawsuit is named after its lead plaintiff, Maryland home seller Daniel Umpa. Defendants in the Umpa copycat commission lawsuit filed a slew of motions on Monday as they sought to have the class-action allegations to be struck down and dismissed.

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Realty Real Estate Law Brokerage 353

Lamacchia Realty

FEBRUARY 21, 2024

SELLERS, HERE'S WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION Selling your home and moving into a new one can be an exciting life chapter. With the guidance of your trusted REALTOR®, you can be prepared to handle anything and bring your transaction to a smooth close. So, what do you, as a seller, do in this scenario?

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Inspection Sellers Buyers Agents 70

Housing Wire

MAY 8, 2024

million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million. First, more buyers are using agents in 2023 than in 2003. Additionally, data from RealTrends shows that the average commission actually rose in 2023 to 5.5%, up from 5.1% That is an improvement over its $150.2

Agents 335

Agents Brokerage Real Estate Clients 335

Housing Wire

JANUARY 29, 2024

In an amended complaint filed on Friday, home sellers Danielle and Jessie Kay (who sold a house in Baden, Pennsylvania, in December 2021 with the help of an agent from Realty One Group Gold Standard ) were added as a plaintiff. The Kays join John and Nancy Moratis in the suit that was originally filed in early December 2023 in the U.S.

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Brokerage Realty Real Estate Real Estate Agent 305

Housing Wire

FEBRUARY 1, 2024

The settlement settles all home seller lawsuits nationwide. In late October 2023, an eight-person jury in Missouri found Keller Williams, along with defendants, NAR and HomeServices of America, liable for colluding to artificially inflate real estate agent commissions.

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Agents Realtors Real Estate Agent Real Estate 463