Housing Wire

APRIL 15, 2024

Although more agents are fielding questions about the commission lawsuits than they were a quarter ago , they also remain optimistic about where the housing market is headed in the second quarter of 2024, according to the RealTrends Q2 2024 AgentPulse survey.

Inventory 364

Inventory Agents Real Estate Sellers 364

Housing Wire

APRIL 23, 2024

The National Association of Realtors (NAR) can breathe a small sigh of relief. The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. A final approval hearing for the settlement has been set for November 2024.

Realtors 453

Realtors Agents Buyers Legal 453

Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. ” It continues: “Buyer-broker commission rules are the subject of several pending antitrust suits and a pending appeal in which the United States is an appellant.”

Buyers 351

Buyers Realtors Real Estate Sellers 351

Housing Wire

SEPTEMBER 7, 2023

Attorneys, Realtors and clients are a big part of our repeat business.” But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents.

Buyers 373

Buyers Agents Loan Officers Real Estate 373

Housing Wire

FEBRUARY 16, 2024

The complaint claims that the National Association of Realtors is the creator of this alleged conspiracy through its creation and enforcement of its Participation Rule. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present. 16, 2020, and the present.

Real Estate 382

Real Estate Realtors Realty Brokerage 382

Housing Wire

MARCH 8, 2024

JND Legal Administration is in charge of distributing the mailers, emails and press releases. While it is not uncommon for the parties themselves to handle settlement administration work, legal experts told HousingWire that due to the size and scope of these lawsuits it is not surprising that a third-party administrator was brought in.

Agents 377

Agents Legal Realtors Clients 377

Housing Wire

NOVEMBER 8, 2023

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. Data from the Legal Research Center concluded that all 50 states and Washington, D.C., America’s 1.5

Legal 315

Legal Law Insurance Real Estate 315

Housing Wire

DECEMBER 18, 2023

In her first national interview since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, National Association of Realtors (NAR) president Tracy Kaspe r said the trade group would continue to advocate for what it feels is best for consumers. “We

Real Estate 410

Real Estate Realtors Buyers Real Estate Agent 410

Housing Wire

APRIL 23, 2024

The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. Offering cooperative compensation is legal in all 50 states and the four territories that we have Realtor associations, so we didn’t want to usurp state laws,” Sears said.

Realtors 330

Realtors Brokerage Agents Real Estate 330

Housing Wire

MAY 8, 2024

But in court documents filed last week, Anywhere revealed that they had “insisted that the people in the Settlement Class release all their antitrust claims arising from the same alleged conspiracy, including claims they could assert as either sellers or buyers.” Keller Williams reached a settlement agreement in early February 2024.

Sellers 299

Sellers Realtors Brokerage Buyers 299

Housing Wire

MAY 3, 2024

RE/MAX executives were not shy about acknowledging the uncertainty that is currently plaguing the real estate industry during the firm’s first-quarter 2024 earnings call with analysts and investors Friday morning. Year over year, RE/MAX’s total agent count in Q1 2024 was down 0.2% million in Q1 2024, compared to a net loss of $0.7

Agents 324

Agents Real Estate Training Buyers 324

Housing Wire

OCTOBER 6, 2023

Like Anywhere Real Estate Friday morning, the terms of RE/MAX’s $55 million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public. Final court approval of the settlement is expected in early 2024. independent regions, and U.S. We assert that protecting the U.S.

Agents 475

Agents Real Estate Buyers Brokerage 475

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. With a final ruling not expected until mid-to-late spring 2024 , the real estate industry remains in limbo as the copycat lawsuits continue to pile up.

Legal 364

Legal Real Estate Agents Realtors 364

Housing Wire

MAY 1, 2024

Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky. billion in damages, as well as what the judge’s final ruling would look like.

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Realtors Real Estate Agent Real Estate Brokerage 323

Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

Real Estate 325

Real Estate Sellers Realtors Brokerage 325

Housing Wire

DECEMBER 6, 2023

Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS. Both lawsuits are seeking class-action status. 4, 2019 and the present.

Realty 412

Realty Realtors Brokerage Real Estate 412

Housing Wire

MAY 8, 2024

“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 Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

Agents 335

Agents Brokerage Real Estate Clients 335

Housing Wire

FEBRUARY 22, 2024

Worst-case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said. They have gone through all of this and it will end up being punitive to buyers.

Sellers 412

Sellers Buyers Real Estate Agents 412

Housing Wire

APRIL 8, 2024

Analysts at investment bank Keefe, Bruyette & Woods believe that the Department of Justice will intervene in Sitzer/Burnett commission lawsuit after receiving the green light to reopen its investigation into the National Association of Realtors. The DOJ appealed the ruling in March of 2024. Circuit Court of Appeals in D.C.

Real Estate 457

Real Estate Realtors Agents Brokerage 457

Housing Wire

MAY 21, 2024

The National Association of Realtors (NAR) has petitioned a circuit court of appeals in Washington, D.C., The settlement proposed at the time included requirements for NAR to boost transparency about broker commissions and to stop misrepresenting that buyer broker services are free.

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Government Contracts Realtors Law 349

Housing Wire

OCTOBER 6, 2023

After roughly a month of speculation, Anywhere Real Estate and RE/MAX made the terms of their proposed settlement agreements in the Moehrl and Sitzer/Burnett buyer broker compensation class action suits public on Friday. 16, while a trial date for the Moehrl suit has yet to be set, it is expected start in early 2024. In the Sept.

Agents 352

Agents Brokerage Realtors Real Estate 352

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.

Sellers 422

Sellers Buyers Real Estate Contracts 422

Housing Wire

SEPTEMBER 6, 2023

Anywhere Real Estate ’s settlement agreement in two class action antitrust lawsuits dealing with buyer broker compensation raises important questions about the future of buyer’s agency and how other defendants are viewing the fast approaching trials. million in damages for both the Moehrl and Sitzer/Burnett suits.

Buyers 409

Buyers Agents Realtors Sellers 409

Housing Wire

NOVEMBER 10, 2023

Noticeably missing from the list is the National Association of Realtors. In mid-October, REBNY announced changes to its rules , including a rule preventing listing agents from paying or offering to pay buyers’ agents compensation. Instead, if a seller wishes to compensate the buyer’s agent, they must pay the agent themselves.

Real Estate 436

Real Estate Brokerage Sellers Law 436

Housing Wire

OCTOBER 30, 2023

District Court judge in Boston has endorsed a motion to stay the Nosalek buyer broker commission case , allowing the plaintiffs to join the settlement agreements reached by Anywhere and RE/MAX in two separate multi-billion dollar commission lawsuits, Moehrl and Sitzer/Burnett.

Realtors 341

Realtors Real Estate Buyers Sellers 341

Housing Wire

APRIL 22, 2024

Tracey Velt and Glenn Sanford at HousingWire’s The Gathering 2024 (Photo credit: AJ Canaria.) Agents need to have a certain level of skills in order to educate buyers, sellers, negotiate, etc. Department of Veterans Affairs (VA) loans.

Brokerage 318

Brokerage Agents Real Estate Buyers 318

Housing Wire

FEBRUARY 1, 2024

A final approval hearing for the two settlements has been set for May 9, 2024. Anywhere’s and RE/MAX’s settlement agreements in the Sitzer/Burnett, Nosalek and Moehrl suits have received preliminary approval from Judge Stephen Bough, who over saw the Sitzer/Burnett trial.

Agents 463

Agents Realtors Real Estate Agent Real Estate 463

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being.

Brokerage 403

Brokerage Real Estate Realtors Legal 403

Housing Wire

APRIL 11, 2024

Nothing was off the table when National Association of Realtors (NAR) President Kevin Sears joined NextHome CEO James Dwiggins and chief strategy officer Keith Robinson on this week’s episode of their “Real Estate Insiders Unfiltered” podcast. But Kasper’s tenure was short-lived as she resigned in early January 2024 due to blackmail threats.

Real Estate 363

Real Estate Realtors Law Tools 363

Housing Wire

MAY 1, 2024

In light of the jury verdict in the Sitzer/Burnett suit and the terms of the National Association of Realtor’s nationwide settlement agreement of the commission lawsuits , several prominent industry analysts believe Zillow will struggle with its financial performance. Barton also touched upon the terms of NAR’s settlement agreement.

Agents 335

Agents Real Estate Contracts Real Estate Agent 335

Housing Wire

NOVEMBER 1, 2023

While the industry has yet to find out what Judge Stephen Bough’s injunction will say and the three defendants, the National Association of Realtors , Keller Williams and HomeServices of America , have vowed to appeal the decision, Barton believes his firm will thrive regardless the outcome.

Real Estate 423

Real Estate Advertising Agents Realtors 423

Housing Wire

APRIL 23, 2024

Anthony Lamacchia, Linda O’Koniewski, James Dwiggins at HousingWire’s The Gathering 2024. At the top of industry leaders’ minds for how the outcome of these lawsuits will potentially harm consumers is how buyers will be able to afford and pay for buyer representation. “I Department of Veterans Affairs (VA) borrowers.

Brokerage 292

Brokerage Sellers Buyers Agents 292

Housing Wire

MARCH 15, 2024

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. There is an agreement but what about approval?

Agents 425

Agents Brokerage Advertising Real Estate 425

Housing Wire

DECEMBER 19, 2023

15, 2024, to file a statement of interest, if the court wishes to hear the department’s views before making a decision about granting preliminary approval. Thus, MLS PIN would continue to organize and facilitate brokers’ blanket, unilateral offers of compensation to buyer brokers.” Leal also asked Saris to give the DOJ until Feb.

Real Estate Agent 337

Real Estate Agent Real Estate Buyers Realtors 337

Housing Wire

SEPTEMBER 22, 2023

The National Association of Realtors continues to face demands for change from staffers and members in the wake of the sexual harassment allegations brought forth in the New York Times exposé. Goldberg , the trade group’s current CEO, is currently set to retire at the end of 2024, closing out his 30-year career at NAR.

Law 340

Law Legal Human Resources Realtors 340

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

NOVEMBER 2, 2023

In regards to the outcome of the Sitzer/Burnett commission lawsuit , Kelman said it was one that Redfin has long prepared for, which he felt was evident in the firm’s commitment to giving consumers a better deal and the announcement of their break from the National Association of Realtors. I feel a twinge of optimism.

Agents 386

Agents Technology Housing Market Training 386