Housing Wire

AUGUST 18, 2023

The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023. They must be U.S.-based,

Brokerage 370

Brokerage Real Estate Realty Real Estate Agent 370

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. Only 1% of respondents say they are restructuring their compensation model.

Real Estate 383

Real Estate Brokerage Agents Training 383

Housing Wire

NOVEMBER 13, 2023

I recently read editorials and articles by such esteemed publications as The Economist , Entrepreneur Magazine , and The Wall Street Journal concerning the antitrust real estate commission lawsuits. It’s true that Brookings did their study back in 2019 and there has been a surge in equity values in the past four years, but still.

Real Estate 354

Real Estate Realtors Agents Buyers 354

Housing Wire

APRIL 28, 2021

In 2002, Natalya Delcoure and Norman Miller, two real estate economists, set about to learn what fees consumers pay real estate agents in America. They were especially interested in real estate commissions. On average 6% of the proceeds from each home sale went to the participating real estate agents.

Real Estate 355

Real Estate Real Estate Agent Agents Brokerage 355

Housing Wire

SEPTEMBER 2, 2021

Bay Area-based HomeLight , a proptech platform aimed at expediting and simplifying the real estate process, announced it has raised a combined total of $363 million in new funding. According to a Thursday release, the round was led by Zeev Ventures – the same VC to lead HomeLight’s $109 million Series C back in 2019.

Real Estate 323

Real Estate Buyers Sellers Investors 323

Housing Wire

MARCH 29, 2024

residential real estate market that lacks empirical support, conflicts with principles of the Sherman Act, and has negative practical implications for consumers which DOJ has not taken into account.” According to CMLS’ reading of the proposed agreement, two main policy changes are proposed.

Sellers 426

Sellers Real Estate Buyers Contracts 426

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. This system, with its veiled surcharges, illegally warps the real estate market.”

Real Estate 445

Real Estate Real Estate Agent Sellers Realty 445

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. Real Estate , Modern Spaces , The Agency , The Modlin Group , Nest Seekers International , Oxford Property Group , R New York , RE/MAX , SERHANT. 8, 2019, and the present.

Real Estate 464

Real Estate Brokerage Sellers Law 464

Housing Wire

JANUARY 11, 2024

The Real Estate Board of New York is now fighting a second copycat commission lawsuit. In addition to REBNY and Douglas Elliman, the complaint names Christie’s International Real Estate , Brown Harris Stevens , SERHANT. Instead, if a seller wishes to compensate the buyer’s agent, they must pay the agent themselves.

Real Estate 413

Real Estate Sellers Real Estate Agent Agents 413

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. Damages in the suit could reach $13.7

Real Estate Agent 380

Real Estate Agent Realtors Real Estate Sellers 380

Housing Wire

MARCH 27, 2024

Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego. Competition heats up In 2019, Watson Realty Corp. DR Horton and Dream Finders both ranked in the top 10 in 2019, and Lennar made a top 10 appearance in 2020.

Brokerage 425

Brokerage Realty Real Estate Inventory 425

Housing Wire

DECEMBER 30, 2020

Now, home sellers in these markets have access to a cash offer upon listing their house, if qualified. The program, which first launched in October 2019 , already offers features including RealSure Sell, which gives home sellers the certainty of a cash offer while they work with an agent to bring a better offer.

Real Estate 243

Real Estate Sellers Real Estate Agent Agents 243

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.

Real Estate 377

Real Estate Government Technology Real Estate Agent 377

Housing Wire

NOVEMBER 8, 2023

The Missouri judge who oversaw the landmark Sitzer/Burnett real estate commission lawsuit will also preside over the Gibson lawsuit brought by Michael Ketchmark, who represented the plaintiffs in Sitzer/Burnett. Like RE/MAX in Sitzer/Burnett, United Real Estate, a flat fee brokerage, was also named to the Gibson lawsuit.

Real Estate 422

Real Estate Sellers Realtors Real Estate Agent 422

Housing Wire

JANUARY 27, 2021

Technology has rapidly changed the process for listing and buying homes, and the general public is taking note and adjusting their expectations of what a real estate broker should be. The public is demanding a broker that offers the same cost savings and efficiencies in the real estate market that they receive everywhere else.

Real Estate 329

Real Estate Agents Brokerage Sellers 329

Housing Wire

FEBRUARY 21, 2024

“This collaboration reflects our dedication to equipping NAR members with innovative solutions that cater to the evolving needs of their clients, ensuring a smooth experience for sellers and buyers alike,” said Rhonny Barragan, NAR vice president of strategic alliances in an announcement of the deal.

Home Improvement 400

Home Improvement Realtors Real Estate Agent Inspection 400

Housing Wire

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

Brokerage 427

Brokerage Realty Real Estate Agent Real Estate 427

Housing Wire

MAY 14, 2024

“Overall, higher volumes above current trough levels would help to drive stronger incremental margins and showcase the scale and efficiencies that our diversified national footprint provides, much like what we saw in 2019 through 2021.”

Insurance 428

Insurance Real Estate Sellers Housing Market 428

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions. 8, 2019, and the present.

Realtors 444

Realtors Sellers Buyers Real Estate 444

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.

Realty 396

Realty Real Estate Law Brokerage 396

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. 4, 2019 and the present.

Realty 427

Realty Realtors Brokerage Real Estate 427

Housing Wire

OCTOBER 6, 2023

The terms of Anywhere Real Estate ‘s $83.5 “We believe this is the right course of action to remove future uncertainty and ongoing legal expense, serving the best interests of the company, our affiliated agents and franchisees, and shareholders, and enabling Anywhere to focus on moving real estate to what’s next.”

Buyers 427

Buyers Brokerage Agents Sellers 427

Housing Wire

MARCH 14, 2024

Like the Department of Justice , the Federal Reserve has decided to weigh in on the real estate agent commission debate. They noted that in the Houston metro area, between 1997 and 2019, 2.58 million houses were listed for sale, with 95.6% of them including an offer to pay 3% of the sales price to the buyer’s agent.

Agents 399

Agents Legal Real Estate Agent Buyers 399

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. Like the other commission lawsuits, the plaintiffs in the Moehrl suit allege that the real estate industry has colluded to artificially inflate real estate agent commissions.

Real Estate 372

Real Estate Sellers Realtors Brokerage 372

Housing Wire

FEBRUARY 28, 2024

Defendant’s illegal collusion has the inevitable effect of forcing home sellers like Plaintiff to bear a cost—buyer’s side commissions—that in a competitive marketplace lacking Defendants’ collusion would be borne by the buyer, if at all,” the complaint reads. 2, 2019, and Oct. 2, 2023.

Realtors 402

Realtors Legal Agents Brokerage 402

Housing Wire

APRIL 26, 2024

The national real estate brokerage found that the nationwide median sale price reached $420,357 in March 2024. My advice to sellers is to price your home fairly,” Chen Zhao, economic research lead at Redfin, said in a statement. Even as the median U.S. That’s according to a pair of reports released Thursday by Redfin.

Housing Market 390

Housing Market Marketing Insurance Sellers 390

Birmingham Appraisal

APRIL 24, 2024

Birmingham Real Estate Market Update: First Quarter 2024 vs 2023 The first quarter of 2024 is now under our belts so this week I’ll be taking a look at how Q1 of 2024 compared to Q1 of 2023. Of course, real estate is location specific and certain areas may be doing better than others.

Real Estate 69

Real Estate Marketing Sellers Buyers 69

Housing Wire

JANUARY 16, 2024

In an amended complaint filed on Friday, the plaintiffs’ counsel named Vanguard Properties , Twin Oaks Real Estate , Windermere Real Estate Services Company , Rapisdara & Fox and Realty One Group , as additional defendants in the antitrust suit. 8, 2019, and the present. The lawsuit was originally filed in U.S.

Brokerage 399

Brokerage Realtors Realty Real Estate 399

Housing Wire

OCTOBER 20, 2023

No seller must use a real estate agent to sell a home — ever. In fact, considering inter-family and estate transfers as well as for-sale-by-owners, as many as 20% of all transactions may not include the use of an agent. No buyer must use a real estate agent — ever. I am repeating myself but bear with me.

Real Estate Agent 427

Real Estate Agent Real Estate Brokerage Agents 427

Housing Wire

OCTOBER 31, 2023

During their testimony, the home seller plaintiffs and their lead attorney Michael Ketchmark argued that despite the defendants having antitrust rules and regulations in place, the trade group and corporate brokerages knowingly violated their own rules in order to maintain high commission rates.

Brokerage 545

Brokerage Realtors Sellers Buyers 545

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.

Realtors 350

Realtors Real Estate Sellers Buyers 350

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 effect of these rules is not simply that the seller must pay the buyer broker’s compensation,” the complaint states.

Sellers 424

Sellers Realtors Buyers Agents 424

Housing Wire

OCTOBER 18, 2023

According to Ketchmark, the home sellers paid an average of $6,700 to the buyer’s agent in the transactions, adding up to $1.78 Ketchmark also brought up Keller’s book “The Millionaire Real Estate Agent,” which discusses the ‘co-opetition’ model that has evolved among rival brokerages. billion in damages.

Agents 426

Agents Training Real Estate Real Estate Agent 426

Housing Wire

DECEMBER 27, 2023

The systems outage has derailed closings across the country over the holidays for homebuyers and sellers using the company’s title services in more than 2,000 locations. Homebuyers, sellers and appraisers have been responding to the company’s LinkedIn announcement on the cybersecurity incident, asking for clarification.

Sellers 492

Sellers Insurance Valuation Clients 492

Housing Wire

SEPTEMBER 17, 2021

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. Sellers remain in control, but the next month or two will be very telling,” Stacey Delgado, a Redfin agent in Raleigh said.

Buyers 437

Buyers Inventory Real Estate Agent Agents 437

Housing Wire

MARCH 18, 2022

The success of iBuyers is the failure of real estate agents. After all, iBuying companies Opendoor , Redfin and formerly Zillow are predicated on home sellers eschewing a listing agent and selling their home to the company. Though both Redfin and Offerpad feature iBuying and real estate agents, the business models are different.

Agents 401

Agents Real Estate Agent Real Estate Sellers 401

Housing Wire

NOVEMBER 3, 2023

Real estate commissions are under the microscope. 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. Judge Stephen R. Bough of U.S.

Real Estate 315

Real Estate Brokerage Buyers Property Management 315