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.

Sellers 418

Sellers Real Estate Buyers Contracts 418

Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. At the center of the lawsuit is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer’s brokers in order to list a property on a Realtor association affiliated MLS. 2, 2019, and Oct.

Realtors 383

Realtors Legal Agents Brokerage 383

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

Real Estate 464

Real Estate Realtors Realty Real Estate Agent 464

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.

Real Estate 404

Real Estate Realtors Realty Buyers 404

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. Who’s named?

Real Estate 406

Real Estate Brokerage Sellers Law 406

Housing Wire

MARCH 28, 2024

The change enabled greater flexibility and choice for sellers when listing a property and gave buyers and buyers’ brokers a vehicle for negotiating for compensation when making an offer to purchase,“ NWMLS wrote in the filing. The parties have until March 28 to file their responses.

Sellers 355

Sellers Contracts Buyers Realtors 355

Housing Wire

JANUARY 11, 2024

Defendants’ conspiracy has artificially inflated broker commissions to a range of 5-6% of the sale price in nearly all residential real estate transactions in REBNY Brooklyn—half of which automatically goes to the Buyer Broker—an overcharge that is borne entirely by the home seller,” the complaint states. “In 29, 2019, to the present.

Real Estate 397

Real Estate Sellers Real Estate Agent Agents 397

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.

Realty 421

Realty Realtors Brokerage Real Estate 421

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Its agents also offer buyer broker compensation.

Real Estate 411

Real Estate Sellers Realtors Real Estate Agent 411

Housing Wire

JANUARY 16, 2024

Like the other commission lawsuits, the Grace suit takes aim at NAR’s Participation Rule, which requires listing agents to make a blanket offer of compensation to the buyer’s broker in order to list the property on the MLS. 8, 2019, and the present.

Brokerage 378

Brokerage Realtors Realty Real Estate 378

Housing Wire

FEBRUARY 22, 2024

Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). million in January 2019.” Existing-home sales rose 3.1%

Inventory 414

Inventory Sellers Buyers Realtors 414

Housing Wire

NOVEMBER 10, 2023

On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. Noticeably missing from the list is the National Association of Realtors. The lawsuit is seeking class action status, with the proposed class including Manhattan home sellers who worked with an agent from one of the defendants between Nov.

Real Estate 454

Real Estate Brokerage Sellers Law 454

Housing Wire

MARCH 14, 2024

In the paper, the authors note the ongoing legal battle between the DOJ and the National Association of Realtors (NAR) over commissions, as well as the myriad of lawsuits and the jury verdict in the Sitzer/Burnett suit, in which the real estate industry was found liable for colluding to artificially inflate agent commissions. needs to change.

Agents 380

Agents Legal Real Estate Agent Buyers 380

Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

Real Estate 352

Real Estate Sellers Realtors Brokerage 352

Housing Wire

DECEMBER 8, 2023

Central to the complaint is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

Brokerage 421

Brokerage Realty Real Estate Agent Real Estate 421

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.

Realtors 336

Realtors Real Estate Sellers Buyers 336

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.

Agents 413

Agents Buyers Realtors Sellers 413

Housing Wire

JANUARY 9, 2023

Buyer behavior on the Auction.com platform provides one of the best barometers of the retail housing market because the success and livelihood of these buyers depend heavily on them accurately anticipating what the retail market will look like in the next six to 12 months. percent, according to ATTOM Data Solutions.

Retail 448

Retail Sellers Buyers Market Value 448

Housing Wire

MAY 24, 2021

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. The April 2021 survey was sent to 50,000 Realtors selected from NAR’s over 1.4 “The share of first-time buyers decreased to 31% from 32% in the prior month, and 36% one year ago. .

Realtors 471

Realtors Buyers Housing Market New Listings 471

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.

Sellers 398

Sellers Agents Buyers Realtors 398

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%.”

Real Estate 348

Real Estate Realtors Agents Buyers 348

Lamacchia Realty

MAY 7, 2024

has released its “Top Producing REALTORS®,” for April 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Mary Wood is an award-winning REALTOR® based in MetroWest closing 50-60 sales annually.

Realtors 72

Realtors Realty Real Estate Clients 72

Housing Wire

NOVEMBER 4, 2022

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. The share of Black and Asian first-time buyers is down from 6% in 2021, while the share of white first-time buyers is up from 82% and Hispanic homebuyers up from 7%. million in 2021, up from 50.5

Buyers 364

Buyers Sellers Real Estate Agent Real Estate 364

Housing Wire

OCTOBER 3, 2023

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Another 10% are honing their value proposition , particularly as it relates to buyers’ agents.

Real Estate 363

Real Estate Brokerage Agents Training 363

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. Over her career, she’s done $128M in sales volume and has been ranked as the Top Agent in Lunenburg since 2019.

Realty 74

Realty Realtors Training Clients 74

Housing Wire

MAY 23, 2023

These buyers are primarily local community developers who purchase distressed properties and then resell or rent those properties on the retail market following rehab — a process that typically takes about six months. in April 2023, according to the National Association of Realtors (NAR). The national median home price decreased 1.7%

Housing Market 417

Housing Market Marketing Retail Sellers 417

Lamacchia Realty

FEBRUARY 6, 2024

has released its “Top Producing REALTORS®,” for January 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by the office with the highest transaction numbers or sales for the month! Colin Snee began his career in the real estate industry in 2019 and has a long history in sales.

Realtors 74

Realtors Realty Real Estate Clients 74

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. Reffkin cited the Seattle market as reason for optimism. So we have evidence in a major U.S.

Agents 357

Agents Real Estate Agent Realtors Brokerage 357

Housing Wire

NOVEMBER 30, 2023

An attorney for the plaintiffs, Robert Braun of Cohen Milstein Sellers & Toll, asked Wood if she would be willing to set a trial date for the third quarter of 2024. This case has now been pending for more than four and a half years, and we’re ready to move forward and towards trial,” he said on the call.

Legal 405

Legal Sellers Realtors Law 405

Lamacchia Realty

APRIL 8, 2024

has released its “Top Producing REALTORS®,” for March 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Lamacchia Realty, Inc. Shauna was also named in the Boston Agent Magazine’s Who’s Who 2022 edition !

Realtors 71

Realtors Realty Real Estate Agents 71

Housing Wire

MAY 10, 2022

As the calendar has turned to May, and the Realtor Legislative Meetings have come to a close, it’s a good time to reflect on research that was released last month and throughout early 2022. These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process.

Housing Market 422

Housing Market Realtors Buyers Inventory 422

Lamacchia Realty

OCTOBER 11, 2023

has released its “Top Producing REALTORS®,” for September 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! She was awarded Most Sales and Most Sales Volume in 2018 2019 , 2020 , and 2021 for our Woburn Office.

Realtors 74

Realtors Realty Real Estate Clients 74

Lamacchia Realty

NOVEMBER 3, 2023

has released its “Top Producing REALTORS®,” for October 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! Additionally, Leslie is a member of the 2019 , 2020 and 2021 President’s Club.

Realtors 74

Realtors Realty Real Estate Clients 74

Housing Wire

JULY 13, 2021

But recently, we’ve started to see buyers get cold feet. Two of my buyers just had their offers accepted because the sellers’ first buyers backed out. The market is still competitive, but buyers are more trepidatious than they were at the start of 2021, and less willing to pull out every stop in order to win.”

Inventory 493

Inventory Housing Market Real Estate Agent Buyers 493

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.

Real Estate 306

Real Estate Brokerage Buyers Property Management 306

Lamacchia Realty

JANUARY 11, 2024

has released their “Top Producing REALTORS®,” for all of 2023! This program recognizes the Top 10 REALTORS® out of the over 500 agents in Lamacchia Realty by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the year! Laurie joined Lamacchia Realty Leominster in the spring of 2019.

Realtors 66

Realtors Realty Real Estate Agents 66

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.

Agents 419

Agents Training Real Estate Real Estate Agent 419