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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents.

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How to Become a Real Estate Agent in Illinois (IL) in 5 Steps

Housing Wire

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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Abortion, marijuana laws play a role in relocation decisions

Housing Wire

The passage of the so-called “heartbeat bill” in Texas and similar laws in other states, access to legal and safe abortions has become a major concern for some recent movers. About one-in-seven people who recently moved said they would not live in a place where abortion is fully legal, according to a Redfin report released this week.

Law 395
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Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

Just prior to the plaintiffs resting their case late Monday afternoon, HomeServices of America , one of the three remaining defendants in the commission lawsuit , filed a motion for judgment as a matter of law. King also said that Keller Williams does not tell agents what commission to charge. million real estate licensees in the U.S.,

Law 410
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How the commission lawsuits may prompt intervention from DOJ and regulators

Housing Wire

So, the fact that we are now seeing things further in the process come down to agents and brokers — I was not entirely surprised by that.” Unlike Murray, Marx Sterbcow, the managing attorney at Sterbcow Law Group, believes that the settlement agreements will be approved, but he supports Murray’s assertion that the DOJ will step in.

Legal 349
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Sitzer/Burnett filing deadline results in a squall of post-trial motions

Housing Wire

31, 2023, when a Missouri jury found the National Association of Realtors , HomeServices of America , and Keller Williams liable for colluding to artificially inflate real estate agent commissions, to prepare and file these motions. The parties had since Oct. HomeServices of America filed three post-trial motions Monday evening.

Law 330
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NAR, MBA ask for clarification on underwriting rules

Housing Wire

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs.