Housing Wire

MARCH 28, 2024

Originally filed in March 2019, the Moehrl lawsuit alleges that real estate industry participants including HomeServices, the National Association of Realtors (NAR), Anywhere , RE/MAX and Keller Williams conspired to artificially inflate real estate agent commissions. The class encompasses home sellers across 20 local MLSs.

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Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. The National Association of REALTORS® is reviewing this new filing and will respond to it in court.”

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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. Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case.

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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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Housing Wire

NOVEMBER 27, 2023

On Wednesday, home seller plaintiffs in northern Georgia filed a class-action antitrust lawsuit accusing real estate industry players of colluding to artificially inflate real estate agent commissions. The rules explicitly forbid negotiations over the buyer broker’s compensation by either the buyer or the paying seller,” the complaint states.

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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 13, 2019, to the present.

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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?

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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. Accepted by the court on Oct.

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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.

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Housing Wire

JANUARY 16, 2024

8, 2019, and the present. Additionally, the plaintiffs are demanding a jury trial, damages, a permanent injunction barring the defendants from requiring sellers pay the buyer broker, and “restitution and restitutionary disgorgement of all monies wrongfully obtained from Plaintiff and the Class by Defendants.”

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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. NWMLS counters that these rule changes increased transparency and removed the potential for steering. “The

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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.

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Housing Wire

DECEMBER 8, 2023

By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs. The amended complaint also named three new plaintiffs, 125 Hooper LLC, Robert Arko and Andrew Moore, who all sold homes in the state between December 2019 and the present.

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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.

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Housing Wire

NOVEMBER 13, 2023

And this one, “If not for the Realtors rule, many buyers wouldn’t use brokers or would negotiate lower commissions. It does not happen (speaking as someone who has bought and sold nearly a dozen homes, aways used a Realtor, and not once could I increase the price to cover the real estate commission or other closing costs).

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Housing Wire

FEBRUARY 27, 2024

District Court for the Western District of Missouri , the lawsuit is named after its lead plaintiff, Maryland home seller Daniel Umpa. 27, 2019, and the present — 118 different client agreements that are subject to arbitration fall under the laws of 35 different states. Filed in late 2023 in the U.S.

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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. Judge Bough will make a final decision about that date at a scheduled September 9 pretrial hearing.

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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. The primary MLS in the area, non-Realtor owned Northwest MLS , in 2019 eliminated a requirement that listing brokers offer buyer brokers a commission to submit a listing to the MLS.

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Housing Wire

SEPTEMBER 6, 2023

Worst case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said. The National Association of Realtors , a defendant in both lawsuits, says it is not giving up the fight.

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Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.

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Housing Wire

OCTOBER 25, 2023

On Tuesday afternoon, after the National Association of Realtors finished its defense, HomeServices of America took the floor. This “technique” is a script Dalton claimed to use in response to a seller asking him to cut his commission.

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Housing Wire

OCTOBER 19, 2023

Several industry executives, including Rene Galicia, the former director of MLS engage at the National Association of Realtors , and Rodney Gansho, the head of engagement at NAR, again appeared via video deposition, according to reports from Inman News. We do not have an answer to this puzzle.

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Lamacchia Realty

JULY 10, 2023

So, if you’re purchasing a home that was built after August of 2004, it’s best to check with the seller and their agent about the drywall. Due to the potential financial implications, sellers may try to conceal the presence of defective drywall in their property in order to sell the home for a higher price.

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Housing Wire

APRIL 12, 2023

Olufolajimi Abegunde, a Nigerian citizen living in Atlanta, and Javier Luis Ramos-Alonso, a Mexican citizen living in Seaside, California, were each convicted in 2019 in federal court in Tennessee of participating in a sophisticated international email-hacking scheme that bilked its targets out of hundreds of thousands of dollars.

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Houston Properties

JANUARY 13, 2021

Avoid 9 Costly Mistakes Sellers Make. Top Ranked Realtors: Paige Martin & The Houston Properties Team. From March to November of 2020, Americans made $1 trillion more than they did from March to November of 2019. 2020 ended favoring sellers. Do You Want To Buy A Home Now? Need To Sell? I May Need To Sell.

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Housing Wire

APRIL 16, 2024

An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019. Princeton Mortgage CEO Rich Weidel said he doesn’t see a large-scale opportunity for loan originators to obtain a real estate license, for one simple reason: For many loan originators, the job is to bring value to Realtors.

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Raleigh Realty

SEPTEMBER 2, 2022

So whether you're a first-time home buyer or an experienced seller, stay tuned, because we’re going to tell you everything you need to know. In North Carolina, the buyer and seller are both responsible for a portion of the closing costs, but that doesn’t mean there isn’t any wiggle room.In Table of Contents: How Much Are Closing Costs?

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Hood Homes Blog

SEPTEMBER 23, 2019

Updated 9/23/2019; Originally published 4/9/2018. The Seller’s Disclosure is required by law, but ultimately not very useful Do your own due diligence on a property, including a third party inspection ! The seller is responsible to keep the seller’s disclosure updated. Texas Seller’s Disclosure Law.

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Will Springer Realtor

APRIL 10, 2024

Recent news that the National Association of Realtors® (NAR) wishes to settle a series of lawsuits from home sellers has sent ripples through the real estate industry. Allegations of collusion to inflate compensation paid to both buyer and seller agents in transactions prompted this landmark settlement, estimated at a staggering $418M.

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Will Springer Realtor

MAY 13, 2024

SETTLEMENT FOLLOW-UP A judge has preliminarily approved the $418M antitrust class-action settlement involving sellers’ compensation to brokers/agents in residential real estate sales. ” Bough presided over a trial last year that ended in a $1.8B (yes, with a “B”) verdict against the National Association of Realtors® (NAR).

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Will Springer Realtor

AUGUST 11, 2023

also the oldest age of a first-timer ever recorded by the National Association of Realtors® (NAR). The price of new construction has jumped, too; the National Association of Home Builders estimates costs have risen about 35% since 2019. And the sellers don’t disagree. The existing 6-bed, 2.5-bath bath , 3560 sq.

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Clear Capital

NOVEMBER 30, 2021

billion has been invested in terms of funding in 2021, which exceeds the previous record in 2019 of $9 billion when extra $0.5 Like, why are they so worried about like physical violence from this one realtor? He doesn’t represent buyers and sellers, like a traditional agent. Super weird, right? Kenon Chen . Very weird.

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Will Springer Realtor

JUNE 8, 2022

The unprecedented housing price increases in our region – up 39% in King for all home types since May 2019 – will possibly stunt homeownership rates going forward. The change follows Oregon’s lifting in 2019 of zoning restrictions on housing to help address the housing shortage. With scarcity comes price appreciation.

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