Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri.

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Real Estate Brokerage Sellers Law 406

Housing Wire

NOVEMBER 14, 2023

At the center of the plaintiffs’ complaint is the National Association of Realtors’ Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyers’ brokers in order to list the property on the MLS. “In This would lead to competition among buyer brokers to offer lower commission rates.

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Real Estate Realtors Realty Buyers 404

Housing Wire

DECEMBER 20, 2023

Filed in March 2019 , the Moehrl suit is the oldest of the commission lawsuits currently making their way through various courts across the country. In a statement on Wednesday, NAR spokesperson Mantill Williams said that compensation is “always negotiable” between agents and their clients.

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Real Estate Sellers Realtors Brokerage 352

Housing Wire

APRIL 22, 2024

Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell. We negotiated to get the sellers the highest price possible. There are still plenty of buyers interested in this area. Many of us are in sellers’ markets with very low inventory.

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Real Estate Open Houses Brokerage Real Estate Agent 360

Housing Wire

OCTOBER 17, 2023

The highly anticipated trial of the Sitzer/Burnett buyer broker compensation class action lawsuit kicked off in earnest on Tuesday morning, with opening arguments taking place in the Kansas City courtroom belonging to U.S. District Court Judge Stephen Bough.

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Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS.

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Realty Realtors Brokerage Real Estate 421

Housing Wire

SEPTEMBER 6, 2023

Anywhere Real Estate ’s settlement agreement in two class action antitrust lawsuits dealing with buyer broker compensation raises important questions about the future of buyer’s agency and how other defendants are viewing the fast approaching trials. million in damages for both the Moehrl and Sitzer/Burnett suits.

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Agents Buyers Realtors Sellers 413

Housing Wire

AUGUST 3, 2023

The 8th Circuit Court of Appeals’ three-judge panel concurred with a lower district court’s decision that HomeServices is not permitted to enforce arbitration agreements signed by seller clients of franchisees under its authority. billion in commissions they paid to buyers’ agents in the past eight years.

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Realtors Real Estate Sellers Buyers 336

Housing Wire

MAY 24, 2021

There were 3,541 respondents to the online survey which ran from May 3-10, 2021, of which 1,731 had a client. “With little supply in the market, homes typically sold within 17 days — down from 27 days one year ago, as buyer competition heats up,” NAR said in a statement. 25% of all sales were cash sales, per the report.

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Realtors Buyers Housing Market New Listings 471

Housing Wire

NOVEMBER 7, 2023

Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said. Compass also requires their agents to ensure buy-side clients sign buyer-broker agreements. Revenue decreased by 10% year over year to $1.34 Reffkin cited the Seattle market as reason for optimism.

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Agents Real Estate Agent Realtors Brokerage 357

Housing Wire

NOVEMBER 13, 2023

The writer in the Economist says, “…either the fat fee [real estate commission] inflates the house price, or the buyer ends up paying a similar fee when he or she sells.” This is from the Editorial Board of The Wall Street Journal, “Ninety percent of transactions offer buyer agent commissions of exactly 3%.”

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Real Estate Realtors Agents Buyers 348

Housing Wire

FEBRUARY 9, 2023

Launched in 2019, LauraMac provides its technology services for companies acquiring assets in the secondary market, including document management, loan acquisition and loan reviews. Its Loan Acquisition System (LAS) provides an end-to-end solution for buyers and sellers of loans.

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Technology Tools Buyers Sellers 278

Housing Wire

AUGUST 18, 2023

based firms on percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. The minimum revenues required are $100,000 for 2019 and $2 million for 2022. The self-reported list ranks U.S. They must be U.S.-based, Rank Company Growth (3-yr Avg.)

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Brokerage Real Estate Realty Real Estate Agent 369

Housing Wire

OCTOBER 18, 2023

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.

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Agents Training Real Estate Real Estate Agent 419

Housing Wire

MAY 31, 2023

In the fourth quarter of 2019, the median renter could afford 69% of the homes for sale in Salt Lake City. According to data from Altos Research , the median home price listed in Salt Lake City last week climbed to $785,000, up from about $540,000 in the fourth quarter of 2019. Now, the median renter can only afford 4% of homes.”

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Insurance Clients Marketing Housing Market 342

Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.

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Real Estate Brokerage Buyers Property Management 306

Housing Wire

DECEMBER 27, 2022

.” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

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Housing Market Marketing Real Estate Agent Real Estate 510

Housing Wire

AUGUST 27, 2020

year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors. “We Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”. million, a 1.1%

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Contracts Realtors New Listings Real Estate 477

Housing Wire

APRIL 1, 2024

DBRS Morningstar’s rating of the $224 million securitization opened up new types of bond buyers that have inherently lower costs of capital, Saluda Grade CEO Ryan Craft said. Redwood, for instance, has been buying HEIs from third-party originators since 2019 and has been providing liquidity to portions of the nonagency mortgage market.

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Finance Investing Real Estate Agent Real Estate 397

Housing Wire

JANUARY 13, 2022

The lawsuit, in part, challenges a rule first put forth by the National Association of Real Estate Exchanges, NAR’s forerunner, in 1913, that a member agent representing a home seller , “Always be ready and willing to divide the regular commission equally with any member of the Association who can produce a buyer for any client.”.

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Brokerage Real Estate Agents Real Estate Agent 344

Housing Wire

FEBRUARY 18, 2021

Learn how brokers and agents are growing listing visibility among rental properties, attracting more clients in the new year. “Based on data collected in May 2020, buyers saved listings with 3D Home tours 32% more often than listings without.” How to gain more listing visibility in a shifting housing market.

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Agents Tools Housing Market Buyers 364

Housing Wire

FEBRUARY 10, 2023

Buyers seem like they can’t get a break,” Kechian said. “I I really think they had about three months last year where it was a buyers market in the fourth quarter. Literally, we’re right back to being a seller’s market again.” We’ve been advising them how to use it with the sellers.

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Marketing Inventory Loan Officers Buyers 363

Housing Wire

AUGUST 28, 2020

So the products I’ve put into this category are really focused on either helping agents win listings or helping them convert lookers into buyers. The first is listing tools – the products designed for you to convert potential sellers into listing contracts. Seller tools / Buyer conversion tools.

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Tools Sellers Real Estate Contracts 242

Listing Spark

JUNE 21, 2022

over the last year (The first time we have seen active listing growth since June of 2019). The good news for sellers is that the Texas median list price is up over 18% YOY. These foreclosures will add inventory and options to the market for potential buyers. Active, pending and sold data: Active listings have increased by 8.0%

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Sellers Housing Market Marketing Inventory 69

Lamacchia Realty

APRIL 19, 2024

With Lynn comes local expertise of her hometown in Lunenburg where she has been the number one REALTOR since 2019, and all surrounding areas in north central Massachusetts. Along with being extremely motivated, Lynn is energetic, warm, and straight forward with her clients and never misses a detail.

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Realty Realtors Training Clients 74

Lamacchia Realty

DECEMBER 28, 2023

Deanna has been a member of this club every year since its inception, having qualified in 2017, 2018 , 2019 , 2020 , 2021 , and 2022. Deanna is always giving 110% to her clients and it's clear that her passion for the industry is as strong as ever. We’re so proud of Deanna and couldn’t be happier for her!

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Realty Sellers Buyers Real Estate 74

McKissock

OCTOBER 26, 2020

That is if you’re representing the buyer, what should you look for in terms of that extra workspace? If you’re representing the seller, how can you best exploit that feature of a home, or advise people on how to create areas for work or study if they’re lacking? Sellers need to price their property to attract a broad pool of buyers.

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Buyers Sellers Agents Inventory 61

Housing Wire

JANUARY 27, 2021

Many economists are predicting low mortgage rates for an extended period of time which will keep the red-hot seller’s market intact indefinitely. With that in mind, home sellers are racing to the market and searching for ways to pay lower commissions to list their properties that they are confident will sell quickly. .

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Real Estate Agents Brokerage Sellers 326

Housing Wire

MARCH 1, 2022

In eOriginal’s 2020 Tech100 nomination, the company boasted about the efficiency their ClosingCenter product brought to mortgage lending clients; Fairway achieved 80% faster mortgage acceptance by secondary market investors and also realized a 90% reduction in interest expenses to warehouse lenders for mortgages closed using ClosingCenter.

Real Estate 343

Real Estate Brokerage Real Estate Agent Technology 343

Lamacchia Realty

MAY 7, 2024

Her reason for becoming a real estate agent is to continue her desire to work with people and have clients be as happy with their lifestyle as she is providing it to them. Her desire to help her clients earned Shauna the title of Rising Star in the September 2021 issue of the South Shore Real Producers Magazine !

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Realtors Realty Real Estate Clients 72

Housing Wire

OCTOBER 26, 2020

Through a combination of deep knowledge, driven by a proprietary integrated technology platform and data-driven insights, Xome is able to anticipate the needs of its clients and more efficiently manage processes. This is a huge value for our clients when it is crunch time.”.

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Clients Valuation Technology Inspection 370

Housing Wire

AUGUST 21, 2020

In fact, Aurelio said that this July home sales have outpaced July 2019. 1 agent with Century 21 and agent specializing in San Jose and Silicon Valley, Kate Davey said that she feels like it’s “la la land” in her market right now, and her clients are selling their smaller homes for bigger ones nearby. ” No.

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Agents Real Estate Inventory Buyers 449

Lamacchia Realty

NOVEMBER 3, 2023

Additionally, Leslie is a member of the 2019 , 2020 and 2021 President’s Club. His focus is on helping buyers and sellers have a stress-free, efficient, and smooth real estate transaction experience. Carolyn wants to help as many buyers and sellers achieve their goals as possible.

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Realtors Realty Real Estate Clients 74

Lamacchia Realty

FEBRUARY 6, 2024

Eileen is a member of the Lamacchia Realty 2017 , 2018, 2019 , 2020, 2021, and 2022 President’s Club , and the 2020 , 2021, 2022 President’s Club ELITE. She was awarded Most Transactions and Most Sales Volume in 2018 2019 , 2020 , 2021 , and 2022 for our Woburn Office. Click here to learn more about Eileen Doherty.

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Realtors Realty Real Estate Clients 74

Housing Wire

JANUARY 21, 2022

At the close of 2019, the National Association of Realtors had 1.4 These rookies were thrust into the most extreme seller’s markets in history, where they had to learn on the fly how to write an offer, pitch a potential seller, and generate leads. million members. By the end of 2020 the organization’s membership had soared to 1.48

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Agents Real Estate Agent Real Estate Clients 378

Housing Wire

JANUARY 31, 2023

It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market. I know that sounds crazy, but we have a lot of clients reaching out for pre-approvals. I’m curious how this will impact potential buyers.

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Inventory Marketing Business Buyers 345

Housing Wire

MARCH 13, 2024

Now we are looking at a two- to three- business-day process and the buyer may not like the numbers they get back.” For some buyers, surprisingly high insurance premiums are causing them to second-guess the property they have selected. “I There has also been an uptick in the strength and scale of natural disasters.

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Real Estate Agent Insurance Real Estate Agents 437