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.

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Brokerage Realty Real Estate Inventory 445

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.

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Brokerage Realtors Sellers Buyers 545

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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Sellers Contracts Buyers Realtors 420

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.

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Sellers Realtors Buyers Agents 427

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.

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Home Improvement Realtors Real Estate Agent Inspection 406

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.

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Sellers Insurance Valuation Clients 492

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 427

Real Estate Sellers Real Estate Agent Agents 427

Housing Wire

FEBRUARY 22, 2024

While inventory is less depleted, it remains well below the pre-pandemic level of January 2019. million in January 2019.” compared to the start of 2019, according to Realtor.com data. All eyes are on the Fed now to cut rates this summer in order to provide relief to the buyers as well as stubborn sellers. All four U.S.

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Inventory Sellers Buyers Realtors 427

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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Real Estate Real Estate Agent Sellers Realty 446

Housing Wire

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. in 2019-2020, 16.9-17.2% No wonder, then, that many sellers decided to pull their listings. 31% in 2023-2024.

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Mortgage Sellers New Listings Buyers 437

Housing Wire

NOVEMBER 10, 2023

On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. 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. 8, 2019, and the present. It is not required for a seller to compensate a buyer’s agent.

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Real Estate Brokerage Sellers Law 469

Valuation Review

JULY 26, 2021

Sellers are returning to the housing market as the number of homes newly listed for sale surpassed 2019 levels for the first time since the start of the year, according to a new report from Redfin. Read o n for more from Redfin.

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Sellers Housing Market Marketing 60

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. 8, 2019, and the present. Sellers can sell their home for more and have their home seen by more buyers while buyers have more choices of homes and can afford representation. The copycat commission lawsuits have made it to the West Coast.

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Realtors Sellers Buyers Real Estate 446

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.

Real Estate 427

Real Estate Sellers Realtors Real Estate Agent 427

Housing Wire

JANUARY 9, 2023

The 29% average purchase discount was also well above the pre-pandemic average of 22% between 2015 and 2019. Home sales bottoming out as sellers eventually capitulate on price. Assuming mortgage rates do not drop substantially in 2023, sellers will eventually need to capitulate on price to adjust to this new reality.

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Retail Sellers Buyers Market Value 486

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.

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Realtors Legal Agents Brokerage 426

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. There were nearly 2 million more renter-occupied homes in the fourth quarter of 2023 than in the same quarter of 2019.

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Inventory Sellers Mortgage Marketing 427

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 417

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.

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Real Estate Realtors Realty Real Estate Agent 469

Housing Wire

APRIL 15, 2024

In March, more than one in five sellers cut their list price, especially in markets like Tampa, Phoenix, Jacksonville, San Antonio and Orlando. On the other hand, nearly 27% of homes sold for more than list price in February, compared to less than 19% in 2019. Sold homes were listed for a week or less in 17 major metros.

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Housing Market Inventory Buyers New Listings 436

Housing Wire

APRIL 26, 2024

My advice to sellers is to price your home fairly,” Chen Zhao, economic research lead at Redfin, said in a statement. Even though sellers are getting top dollar at the moment, they should price competitively to attract buyers from the start and avoid having to drop their price as stubbornly high mortgage rates eat into buying budgets.

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Housing Market Marketing Insurance Sellers 242

Housing Wire

SEPTEMBER 13, 2022

It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move. housing market that have 2019 inventory levels or higher are off my savagely unhealthy housing market list; those areas see effective pricing as demand gets weaker. Can you blame home sellers?

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Mortgage Inventory New Listings Sellers 518

Housing Wire

OCTOBER 6, 2023

“It is in the economic best interests of both buyers and sellers to work with experienced trusted advisors,” Sue Yannaccone, chief executive officer and president of Anywhere Brands and Anywhere Advisors, said in a statement. Anywhere will eliminate any minimum client commission requirements that company owned brokerages may have.

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Buyers Brokerage Agents Sellers 427

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. “After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

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Real Estate Sellers Realtors Brokerage 412

Housing Wire

AUGUST 10, 2022

Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data. We aren’t talking forced sellers, foreclosures or even short sellers.

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Inventory New Listings Housing Market Sellers 521

Housing Wire

MAY 23, 2023

It’s important to note that, despite the quarter-over-quarter drop, the foreclosure auction price demanded in Q1 2023 was still well below the when the pre-pandemic average of 60% in 2019. Bidders are still not as bullish about home price appreciation as they were back in 2019.

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Housing Market Marketing Retail Sellers 427

Housing Wire

MARCH 14, 2024

They noted that in the Houston metro area, between 1997 and 2019, 2.58 The authors attribute the consistency of the 3% commission rate to steering , as sellers “are concerned that buyer agents would steer clients away from their properties if they do not offer the prevailing buyer agent commission rate.”

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Agents Legal Real Estate Agent Buyers 426

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.

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Buyers Inventory Real Estate Agent Agents 437

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Like the other commission lawsuits, the Parker suit alleges that the defendants colluded “to impose, implement, and enforce anticompetitive restraints that cause home sellers in Florida to pay inflated commissions in connection with the sale of their homes.”

Realty 427

Realty Realtors Brokerage Real Estate 427

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. During the hearing, Wood stated that she would be able to “try the case likely in the fourth quarter of 2024.” The suit received class-action status in March 2023.

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Legal Sellers Realtors Law 417

Housing Wire

NOVEMBER 14, 2023

According to the complaint, the “anticompetitive measures” put in place by NAR and perpetuated by the defendants “impose charges on home sellers beyond competitive thresholds and thwarting competition from innovative or lower-cost alternatives.” 13, 2019, to the present.

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Real Estate Realtors Realty Buyers 407

Housing Wire

DECEMBER 4, 2020

iBuyer purchase volumes were significantly lower during the third quarter this year than they were pre-pandemic, according to zavvie ‘s inaugural Seller Preference Report. That figure is lower than 2019’s average of 98.6%, but that could reflect a perceived higher risk in the marketplace immediately following shutdowns. “As

Sellers 427

Sellers Market Value Inventory Marketing 427

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. I talk about 2019 inventory levels a lot because in 2019 real home prices briefly went negative, showing that you don’t need to have six months plus of inventory to have pricing cool down. Image by Brandon Johnson/HW Media.).

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Sellers Inventory Housing Market New Listings 501

Housing Wire

OCTOBER 17, 2023

The Rule requires every home seller to offer payment to the broker representing their adversary , the buyer, even though the buyer’s broker is retained by and owes a fiduciary obligation to the buyer (who may be told, falsely, that the services of the buyer broker are “free”),” the brief said.

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Sellers Agents Buyers Realtors 407

Housing Wire

APRIL 22, 2024

We negotiated to get the sellers the highest price possible. Even if you’re months or even years away from moving, a seller’s prep session is one of the services I offer homeowners. Many of us are in sellers’ markets with very low inventory. The goal in prospecting FSBO sellers is to be that agent.

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Real Estate Open Houses Brokerage Real Estate Agent 421

Housing Wire

NOVEMBER 4, 2022

These factors also impacted when, where and how buyers purchased homes, according to NAR’s 2022 Profile of Home Buyers and Sellers , which also analyzed the demographic of buyers and sellers across America. That’s the same time period recorded in 2019 and 2020 but an increase from eight years in 2021.

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Buyers Sellers Real Estate Agent Real Estate 395

Lamacchia Realty

AUGUST 2, 2022

With dozens of moving parts, there are many places sellers can find themselves making mistakes and ultimately costing themselves money; markets evolve and what worked years ago may not work now. Below is a list of the most common mistakes home sellers make as well as recommendations for how to avoid them! August 20, 2019.

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Sellers Agents Real Estate Agent Buyers 65