Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business. “We

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Buyers Contracts Real Estate Agents 458

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5

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Buyers Brokerage Agents Sellers 424

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. In the realtor survey, Millennials were the largest home buyer generation represented.

Buyers 390

Buyers Inventory Realtors Finance 390

Housing Wire

FEBRUARY 23, 2022

filed a motion on Thursday in federal district court in Seattle challenging the legality of the National Association of Realtors’ claims that REX pushes false advertising, which the trade group alleged in a countersuit filed late last month. The post The legal battle between REX Homes and NAR heats up? appeared first on HousingWire.

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Legal Advertising Brokerage Realtors 298

Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing.

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Buyers Brokerage Agents Realtors 446

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? So how is the uniformity and permanence of buyer agents’ 2-3% rate possible in a free market? One of the researchers, Will Fried, had a hunch.

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Clients Agents Buyers Sellers 416

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

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Buyers Agents Loan Officers Real Estate 370

Inman

NOVEMBER 8, 2023

A majority of potential buyers say they're open to paying their agents in the wake of legal threats to commissions, according to results from a joint survey conducted by Inman with Dig Insights.

Buyers 167

Buyers Agents Legal Brokerage 167

Housing Wire

MAY 3, 2024

17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. The changes also prohibit the use of MLS data or data feeds to directly or indirectly establish or maintain a platform of compensation offers from multiple brokers or other buyer representatives.

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Sellers Legal Buyers Realtors 431

Housing Wire

MARCH 14, 2024

Legal experts told HousingWire that it is rare to see the Fed offer an opinion about an ongoing legal debate, as it typically does not want viewed as an influence on court decisions. Because of this, the authors believe buyer agents are then able to “command commission above cost.” housing market. needs to change.

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Agents Legal Real Estate Agent Buyers 350

Housing Wire

OCTOBER 4, 2023

District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. Unlike the two other buyer-broker commission lawsuits, Moehrl and Sitzer/Burnett , NAR is not a defendant in the Nosalek lawsuit.

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Buyers Realtors Sellers Legal 371

Housing Wire

SEPTEMBER 20, 2023

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. The past few weeks have been eventful for the Sitzer/Burnett lawsuit, as well as the larger Moehrl lawsuit in Illinois, which also deals with buyer-broker commissions. Bough, a U.S.

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Buyers Law Realtors Agents 366

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.”

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Buyers Realtors Real Estate Sellers 347

Housing Wire

MARCH 13, 2024

In their motion, the parties wrote that they “dispute the factual and legal arguments made in the DOJ’s Statement of Interest.” Preventing sellers and listing agents from setting buyer-broker commissions would promote greater price competition and innovation in the market for brokers’ services,” the DOJ argued.

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Legal Contracts Sellers Buyers 384

Housing Wire

NOVEMBER 3, 2023

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.”

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Buyers Realty Real Estate Realtors 336

Housing Wire

FEBRUARY 29, 2024

In the filing, the parties wrote that they “dispute the factual and legal arguments made in the DOJ’s Statement of Interest.” Preventing sellers and listing agents from setting buyer-broker commissions would promote greater price competition and innovation in the market for brokers’ services,” the DOJ argued.

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Legal Contracts Sellers Buyers 347

Housing Wire

AUGUST 10, 2023

A little over a month after filing an agreement in one of the ongoing buyer broker commission lawsuits, New England’s largest multiple listing service (MLS), MLS Property Information Network (MLS PIN)’s attempt to settle the Nosalek case, has hit a snag. However, unlike Moehrl and Burnett , NAR is not named as a defendant.

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Buyers Realtors Legal Finance 278

Housing Wire

NOVEMBER 9, 2023

The heightened consumer protection focus from government agencies, combined with the Department of Justice’s ongoing legal feud with the National Association of Realtors and its recent involvement in the Nosalek commission lawsuit , has many in the industry expecting that the DOJ will get involved in the Sitzer/Burnett suit, and potentially others.

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Legal Real Estate Real Estate Agent Law 333

Chicagoland Appraisal Blog

MARCH 17, 2024

As a property owner, it’s common to field questions about the legality of apartment units like those in a basement, attic, or coach house. ” But why does it matter if it’s a legal unit? Value The distinction between a legal apartment and an accessory unit influences the property’s value.

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Legal Advertising Development Appraisal 60

Inman

MAY 8, 2023

It's time to question unfounded legal warnings and negative scenarios that don't make sense so that we can put this tool to use for buyers, the CEO of Darryl Davis Seminars writes.

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Buyers Legal Tools Agents 111

Housing Wire

APRIL 15, 2024

When asked about the language they use to discuss how buyer and seller agent commissions are paid, some of the most common responses included stressing that commissions are and always have been negotiable, and that if the National Association of Realtors’ settlement is approved, some practices may change, but many things are currently unknown.

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Inventory Agents Real Estate Sellers 361

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. 2021 to a buyer represented by a Redfin agent. The National Association of Realtors is facing yet another copycat commission lawsuit. Filed on Tuesday in U.S. Freedlund sold her Laguna Nigel home in late Sept.

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Realtors Legal Agents Brokerage 353

Housing Wire

NOVEMBER 8, 2023

Data from the Legal Research Center concluded that all 50 states and Washington, D.C., The proposed FEMA form would not be useful to buyers and duplicative for sellers, virtually having them check the same box on a different form.”

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Legal Law Insurance Real Estate 312

Housing Wire

SEPTEMBER 27, 2023

As an organization dedicated to protecting property rights, the American Land Title Association (ALTA) wants to help ensure laws do not discriminate against or prevent people from legally purchasing real estate. First, any law restricting ownership must clearly state that the obligation to follow the law rests with the buyer.

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Law Real Estate Legal Insurance 328

Housing Wire

NOVEMBER 9, 2023

The verdict runs contrary to what we all know about the value we bring not only to our clients but to the functioning of a buyer-seller real estate market more generally,” Kasper said. As she has stated previously, NAR plans to appeal the verdict and that Sitzer/Burnett saga is far from over.

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Agents Legal Sellers Clients 391

Housing Wire

MARCH 25, 2024

Cooperative compensation is still legal,” Papasan stressed. They noted that NAR’s settlement prohibits disclosing offers of cooperative compensation, broker compensation or total broker compensation, but it does not address including remarks noting that buyer agent compensation will not be offered.

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Agents Advertising Real Estate Buyers 375

Housing Wire

APRIL 10, 2024

This development arises amidst heightened scrutiny and legal challenges facing NAR , including a landmark antitrust settlement that, if approved, would mandate a payment of $418 million and the implementation of rule changes. to allow buyer agent compensation to be rolled into the loan. million members.

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Real Estate Agent Real Estate Agents Legal 415

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.

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Sellers Buyers Real Estate Agents 411

Housing Wire

JANUARY 2, 2024

Umpa sold his Ohio home with Redfin and his Maryland home with Compass , and the suit states that he “paid a substantial buyer-broker compensation,” in both transactions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

Sellers 371

Sellers Brokerage Real Estate Realtors 371

Housing Wire

APRIL 26, 2024

“This resolution allows us to concentrate on our primary goal: delivering unparalleled value in the real estate market and serving home buyers and sellers with the highest standards of service.” The DOJ may also file charges separately to prevent any display of buyer agent commissions on any platform. billion in damages.

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Brokerage Agents Real Estate Buyers 422

Housing Wire

APRIL 11, 2023

Buyers, sellers and lenders all have a stake in the sale, and title and escrow ensure that everyone’s interests are protected. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. In real estate, a title is a legal document that establishes ownership of a property or asset.

Real Estate 340

Real Estate Legal Sellers Buyers 340

Housing Wire

MARCH 29, 2024

In its proposed brief, CMLS writes that in its statement of interest, the DOJ is looking for “an injunction that prohibits offers of buyer broker compensation by MLS PIN participants.” Second, the trade group points out that the practice of sellers and listing brokers paying buyer brokers is lawful throughout MLS PIN’s service area.

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Sellers Real Estate Buyers Contracts 403

Housing Wire

OCTOBER 23, 2023

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. Roger Alford, a law professor from Notre Dame, was also called to testify on Friday.

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Legal Training Real Estate Realtors 332

Lamacchia Realty

APRIL 4, 2023

Legislation was signed into law last Wednesday , April 29, 2023 by Governor Maura Healey to legalize remote online notarization (RON). Connecticut lawmakers passed on the vote for RON in 2022 and will be the only state in New England who hasn’t legalized remote notarization.

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Legal Law Real Estate Sellers 41

Housing Wire

NOVEMBER 8, 2023

District Court for the Northern District of Illinois Eastern Division, this lawsuit also takes issue with NAR’s Clear Cooperation rule, which requires listing brokers to make an offer of compensation to buyer brokers in order to submit a listing to a Realtor-affiliated MLS.

Real Estate 417

Real Estate Realtors Sellers Agents 417

Housing Wire

JULY 19, 2023

A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. Similarly, commission disputes can arise when a buyer-client ultimately purchases a property shortly after the relationship with their real estate agent ends.

Real Estate 283

Real Estate Legal Brokerage Clients 283

Real Estate News

NOVEMBER 9, 2023

Tracey Kasper addressed Realtors in a video post, offering specific advice for working with buyers and sellers, and a look ahead to other legal actions.

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Legal Realtors Sellers Buyers 178