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Real Brokerage pulls out the stops to prep for new commission rules

Housing Wire

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. Our focus is on education and providing resources to all agents.

Brokerage 430
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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 Real Brokerage closed $14.4 million into a qualified settlement fund, as part of the agreement.

Brokerage 388
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The Agency to launch coaching network on Mark Cuban-backed streaming platform

Housing Wire

The mood in the real estate industry has been gloomy since it was rocked by the $418 million settlement of antitrust lawsuits by the National Association of Realtors (NAR) in March, but brokerages are pulling out all the stops to change that. It includes videos, tools and other resources to make sure they’re complying with the rules.

Brokerage 429
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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 441
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Maine team jumps to eXp Realty, citing commission suits as a reason

Inman

Steven Brackett and his 36-agent team have moved to the virtual brokerage. Brackett cited tools and training, as well as the commission lawsuits, as reasons that convinced him to make the move.

Realty 164
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NAR “sets the record straight” on commissions

Housing Wire

After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” The internet can be a tool, but it is not a replacement for the essential services agents who are Realtors provide.

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Why regular check-ins are the unsung heroes of agent retention

Housing Wire

A common thought among brokers revolves around the idea that if your gross commission income or office size is not increasing, you’re not successfully growing your brokerage. According to the National Association of Realtors (NAR), the average tenure of an agent with a brokerage is six years.

Agents 451