Housing Wire

OCTOBER 30, 2020

The National Fair Housing Alliance and nine other housing organizations filed a lawsuit against Redfin on Wednesday, accusing the online brokerage of racial discrimination and favoritism toward predominately white neighborhoods. Homes that were for sale in Baltimore and Baltimore County on June 11, 2020. 7.66% were “No Service” homes.

Brokerage 545

Brokerage Sellers Buyers Agents 545

Housing Wire

JANUARY 9, 2024

District Court in Arizona, Joseph Masiello, an Arizona resident and home seller, accuses several real estate companies of colluding to artificially inflate real estate agent commissions. According to the filing, Masiello was “required to pay a 2% commission ($8,200) to the seller broker and a 2.5% 5, 2020, and the present.

Realty 465

Realty Realtors Real Estate Real Estate Agent 465

Housing Wire

MAY 3, 2023

According to RealTrends’ historical data, agent commissions reached a high point in 1991 at an average of 6.10% and fell to a nadir of 4.94% in 2020 before climbing to 5.06% in 2021 and 5.32% in 2022. Relatedly, discount brokerages have promised big savings to sellers for decades. They were wrong. They’ve never caught on.

Agents 401

Agents Real Estate Agent Brokerage Real Estate 401

Housing Wire

JANUARY 23, 2024

Cooper Group , Xome is a real estate marketplace that serves mortgage servicers, originators, real estate professionals, financial institutions and homebuyers and sellers. As a licensed brokerage , it operates in all 50 states, and its real estate database is powered mostly by MLS-listed homes in the U.S.

Real Estate 386

Real Estate Technology Brokerage Valuation 386

Housing Wire

FEBRUARY 24, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

Real Estate Agent 286

Real Estate Agent Real Estate Agents Loan Officers 286

Housing Wire

FEBRUARY 12, 2024

On Friday, home seller plaintiff Dalton Jensen filed an antitrust lawsuit in U.S. 9, 2020, and the present, and paid a buyer broker commission. 9, 2020, and the present, and paid a buyer broker commission. Yet another copycat commission lawsuit has hit the court dockets.

Real Estate 423

Real Estate Real Estate Agent Realtors Buyers 423

Housing Wire

SEPTEMBER 13, 2023

The big difference One big difference, of course, is that valuations are down from where they were in 2020 to midyear 2022. Combining two brokerage firms with widely disparate commission or fee plans is very difficult no matter the economics. In fact, the level of in-market combinations has not declined much at all.

Real Estate 316

Real Estate Valuation Brokerage Property Management 316

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. The copycat commission lawsuits have made it to the West Coast.

Realtors 440

Realtors Sellers Buyers Real Estate 440

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 431

Sellers Buyers Real Estate Contracts 431

Housing Wire

JANUARY 9, 2024

However, the suit is seeking both national and Illinois class action status for all persons who purchased a home listed on a NAR MLS with a buyer’s agent and or seller-agent employed or affiliated with @properties or any of its franchises, subsidiaries, or agencies between March 17, 2000, and the present.

Property Management 371

Property Management Real Estate Agents Brokerage 371

Housing Wire

MAY 6, 2021

OWN Marin, a veteran team of five agents, announced last week that they switched from the New York-headquartered brokerage to the San Francisco-based outfit. The brokerage, which declined comment, has hundreds of agents in Marin County – which lies just north of San Francisco County – and is the no. billion in VC cash.

Brokerage 370

Brokerage Agents Legal Valuation 370

Housing Wire

JANUARY 14, 2022

HomeSmart is a growing real estate brokerage that may go public, but the company faces questions about its business model and the compensation of founder and CEO Matt Widdows. HomeSmart, like Compass , Keller Williams , eXp and other brokerages, states it has unique technology to modernize real estate. HomeSmart posted a $7.1

Brokerage 405

Brokerage Agents Real Estate Loan Officers 405

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 438

Buyers Inventory Real Estate Agent Agents 438

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. 18, 2020, and the present. The plaintiffs in the suit are demanding a jury trial, as well as damages and a permanent injunction that prevents the defendants from retiring that sellers pay the buyer broker.

Realtors 349

Realtors Real Estate Real Estate Agent Buyers 349

Housing Wire

MARCH 18, 2022

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. Redfin’s agent division is separate from its iBuying arm, Redfin Now , and prospective sellers tend to first choose one service, or the other. It’s a zero-sum economy, right?

Agents 388

Agents Real Estate Agent Real Estate Sellers 388

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 332

Real Estate Brokerage Real Estate Agent Technology 332

Housing Wire

JUNE 16, 2022

despite a challenging mortgage market in which real estate brokerages are laying off staff. The company pays as much as 90% of a home’s expected value for the HomeLight Trade-In product, launched in 2020. The acquisition and funding comes as numerous real estate brokerages are issuing pink slips and halting expansion plans.

Brokerage 314

Brokerage Real Estate Lending Clients 314

Housing Wire

DECEMBER 27, 2021

Because of that, and several other reasons, gross margins for real estate brokerage firms are declining with no real end in sight. for the largest brokerage companies in the United States. for 2020, down from 13.8% The first cause of the decline is the growth in competition for productive agents and a variety of new brokerages.

Brokerage 358

Brokerage Real Estate Agents Finance 358

Housing Wire

DECEMBER 28, 2021

By July, the median home price escalated to $362,800, up 15% from December 2020’s $309,000 median home price, which itself was up 15% from December 2019, according to NAR figures. While it’s still a strong seller’s market, there just aren’t the up-to-20 offers coming in on homes anymore,” Herrig said. on pace for 6.29

Real Estate 450

Real Estate Realty Brokerage Realtors 450

Housing Wire

OCTOBER 23, 2023

In the motion, HomeServices claimed that no evidence has been presented to show they conspired with the National Association of Realtors (NAR) and other brokerages on rules for commissions. The day started with video depositions of four real estate brokerage executives. Goldberg testified that while there are roughly 2.5

Law 418

Law Agents Realtors Contracts 418

Housing Wire

FEBRUARY 15, 2024

The plaintiffs’ original motion to stay the litigation only discussed doing so for the brokerage defendants. The suit was first filed in 2020 in U.S. Like the brokerage defendants, MLS PIN has also reached a settlement agreement with the plaintiffs in the Nosalek suit. District Court in Boston.

Brokerage 361

Brokerage Real Estate Agent Buyers Real Estate 361

Housing Wire

MAY 17, 2023

Incentivized by a 200 basis point decline in mortgage rates, 14 million homeowners in America refinanced their mortgages between the second quarter of 2020 and the fourth quarter of 2021, according to a recent research report by the New York Fed. Real estate brokerages have a related problem — transaction volume is down.

Inventory 360

Inventory Sellers Modernization Mortgage 360

Housing Wire

FEBRUARY 4, 2021

in 2020 across the entire United States. How this real estate brokerage’s unique model generates more profit for agents. Today, both sellers and buyers expect to handle a majority of the process online. Today, both sellers and buyers expect to handle a majority of the process online. increase in 2020.

Home Value 480

Home Value Real Estate Buyers Brokerage 480

Housing Wire

FEBRUARY 24, 2022

It also surpasses by 261% Opendoor’s 2020 loss of $253 million. billion revenue, which mostly stems from a 5% sales fee charged to home sellers and proceeds from flipping homes. Opendoor resold 21,725 of the homes it bought in 2021, up 119% from 2020. It is now in 44 markets, compared to 23 at the end of 2020.

Investors 432

Investors Real Estate Inventory Finance 432

Housing Wire

NOVEMBER 16, 2021

Specifically, the changes reinforce that local broker marketplace participants do not represent brokerage services as free. In adopting these specific changes, we are proceeding with the agreement we made with the Department of Justice (DOJ) in November 2020. consumers everywhere.

Real Estate Agent 341

Real Estate Agent Agents Sellers Real Estate 341

Housing Wire

SEPTEMBER 13, 2023

Industry players who spoke with HousingWire agree that the level of repurchase demands has increased this year and that is having an impact on some buyers and sellers of MSRs. The fact that we’re seeing the increase in repurchase demands is a function of just what the [origination] volumes were [in 2021 and 2020],” Piercy said.

Marketing 388

Marketing Sellers Buyers Mortgage 388

Housing Wire

AUGUST 9, 2023

Scaling lead generation with AI In the fast-paced and competitive market we’re experiencing today, effective lead generation can be the make or break of a brokerage. Since 2020, Addressable has facilitated nearly $2 Billion in home sales across 44 states.

Real Estate Agent 363

Real Estate Agent Real Estate Agents Clients 363

Housing Wire

APRIL 7, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and home sellers while also playing an expanding role as personal advisors. markets; by December 2020, prices were already up 23.6% Presented by: Propertybase.

Housing Market 545

Housing Market Marketing Real Estate Technology 545

Housing Wire

JULY 26, 2021

That kind of drawn-out timetable is typical for the majority of western nations that use the auctioneer system where a seller works with one, perhaps two, auctioneers. fee to the seller. They also had to pay for the brokerage sign outside their home, newspaper advertising, online ads and the brochures for potential buyers.

Real Estate Agent 384

Real Estate Agent Real Estate Sellers Legal 384

Housing Wire

NOVEMBER 1, 2023

In metros across the country, decade after decade, pre-internet and post-internet, buyer agents almost always get 2-3% of the sale price, paid by the seller, the researchers note. and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%. One of the researchers, Will Fried, had a hunch.

Clients 429

Clients Agents Buyers Sellers 429

Housing Wire

APRIL 12, 2022

Samson is the CEO of Samson Properties , a rapidly growing Northern Virginia-based brokerage. He is alluding to Compass CEO Robert Reffkin, who failed to deliver on a stated goal to have 20% market share in 20 major American markets by 2020. They let agents keep 80% of each commission, while retaining 20% for the brokerage.

Brokerage 370

Brokerage Agents Real Estate Insurance 370

Lamacchia Realty

JANUARY 25, 2022

With less than two years under its belt, we are proud to share that our Hudson branch office was the #1 Independent Real Estate Brokerage and Office in Hudson for Closed Sales Dollar Volume and Transaction market share in 2021*. The office first opened in July in 2020 and closed out the year with 44 sales.

Realty 62

Realty Brokerage Realtors Sellers 62

Housing Wire

FEBRUARY 25, 2021

How 2020 exposed a greater need for collaboration between real estate agents and LOs. Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors.

Real Estate Agent 366

Real Estate Agent Home Value Real Estate Loan Officers 366

Housing Wire

MAY 11, 2021

Opendoor wants to give residential real estate brokerages a run for their money , but its first quarter earnings suggest the company is not quite there yet. The San Francisco-based instant homebuyer announced a net income loss of $270 million on Tuesday, a 421 percent jump compared to the first quarter of 2020’s $62 million deficit.

Real Estate Agent 329

Real Estate Agent Real Estate Brokerage Inventory 329

Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. In the latest RealTrends 500 ranking , William Raveis placed ninth among real estate brokerages with $16.2 billion in closed sales volume in 2020.

Brokerage 408

Brokerage Real Estate Clients Insurance 408

Housing Wire

JUNE 14, 2022

With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. Such market volatility has led to sleepless nights for real estate agents and LOs as well as buyers and sellers in recent few days.

Marketing 369

Marketing Real Estate Real Estate Agent Brokerage 369

Housing Wire

OCTOBER 18, 2021

Pausing new contracts will enable us to focus on sellers already under contract with us and our current home inventory.”. Jobs in the construction sector in September was at 200,000 positions below February 2020, pre-covid levels. Can independent real estate brokerages outperform iBuyers? Overall, Zillow reported $9.6

Renovations 384

Renovations Real Estate Construction Contracts 384