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Lamacchia Realty acquires family brokerage of NAR President Kevin Sears

Housing Wire

On Monday, the independent brokerage announced that it had acquired Springfield, Massachusetts-based Sears Real Estate. Founded in 1971 by Paul Sears, Sears Real Estate is owned and operated by the family of current National Association of Realtors president Kevin Sears.

Realty 414
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DataDigest: Study shows agents are aplenty, most with few or no sales

Housing Wire

It relies on examinations of agents’ sales for five major real estate firms in each of four geographic areas; out of a sample of 2,000 agents, 100 were selected randomly from each firm in each area. The study, CFA’s third of three on this topic, suggests that a significant portion of agents in the U.S.

Agents 424
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DataDigest: The remarkably resilient agent commission rate

Housing Wire

On Friday afternoon, my real estate agent called with good news. Unlike loan officers, whose commissions are highly regulated by the government, real estate agent commissions are based largely on long-standing industry practices and market forces. Congratulations!” You just sold your house.” And that was that!

Agents 404
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“Collusion,” agent training are the focus on day three of the Sitzer/Burnett trial

Housing Wire

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. The study attributes the “apparent uniformity of commission rates” to collusion.

Training 404
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Judge’s ruling: it’s heartland homeowners v. NAR

Housing Wire

residential real estate economy as we know it is far from cooked, but a judge has turned on the front burner. Bough’s 41-page ruling does not say either way whether he believes that NAR and the four brokerages conspired to make real estate commissions higher. The defendants?

Brokerage 370
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Have you clearly defined your brokerage’s value proposition?

Housing Wire

Some 15 years ago, real estate agents had only a few choices when deciding which real estate business model to choose. Because of that, and several other reasons, gross margins for real estate brokerage firms are declining with no real end in sight. Today, the choices are abundant.

Brokerage 393
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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. When asked about the allegations that real estate companies and professionals conspired to raise or stabilize commissions, she replied: “It is absolutely untrue.”

Law 404