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Judge denies HomeServices’ motion for ‘judgment as a matter of law’ in Sitzer suit

Housing Wire

She said that HomeServices does not meddle in operations, give advice, or advise on commissions or how the brokerage approaches Realtor association membership. Frazier also told the jury that ReeceNichols does not require agents to be members of the National Association of Realtors , but the local MLS does.

Law 373
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Mark Willis steps back into CEO role at Keller Williams

Housing Wire

In 2002, he joined the firm’s executive team, serving as president, before a nine-year stint as CEO from 2005 to 2014. “With so much uncertainty surrounding the real estate industry today, it’s never been more important to have a leader who thoroughly knows us and understands business at the highest level,” said Keller. billion.

Brokerage 421
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Gary Keller, Bob Goldberg, Gino Blefari depositions on commissions shared with the jury

Housing Wire

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. When you reduce the commission, you reduce the incentive for that agent to bring a buyer to your house.

Agents 422
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The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 As you can see from this NAR report, cash buyers as a percent of sales is slightly lower now than levels in 2016. That was the housing market of 2002-2005, not what we have today. million and 6.16

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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well. million in August.”

Inventory 448
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Opinion: All the ways the class-action commission lawsuits are misguided

Housing Wire

No buyer must use a real estate agent — ever. A meaningful percentage of buyers did not hire a real estate agent when they bought their last home. RealTrends + Harris Insights ‘ studies from 2002, 2005, 2006, 2011, 2014, and 2019 all show that consumers know that commissions are negotiable.

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This savagely unhealthy housing market needs higher rates

Housing Wire

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 Because we had a housing credit bubble from 2002 to 2005, the credit demand push on exotic loan debt structures was a setup for future forced credit selling. We still have some legs to move lower in sales.