Housing Wire

AUGUST 17, 2023

Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. Originally filed by REX in March 2021 , the lawsuit alleges that changes made to Zillow’s website “unfairly hides certain listings, shrinking their exposure and diminishing competition among real estate brokers.”

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Advertising Legal Brokerage Realtors 362

Housing Wire

JANUARY 11, 2024

District Court in New York by Robert Friedman, a resident of Brooklyn who sold a property in Park Slope in May 2021 with the help of a Douglas Elliman agent. Instead, if a seller wishes to compensate the buyer’s agent, they must pay the agent themselves. It is not required for a seller to compensate a buyer’s agent.

Real Estate 380

Real Estate Sellers Real Estate Agent Agents 380

Housing Wire

SEPTEMBER 28, 2023

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

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Advertising Legal Law Real Estate 381

Housing Wire

MAY 8, 2024

Earlier on Wednesday, the homebuyer plaintiffs in the Batton 1 commission lawsuit, filed in Chicago in January 2021, filed a motion for a temporary restraining order and preliminary injunction. When the settlement agreements were initially announced, it was generally understood that they only applied to claims brought by home sellers.

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Sellers Realtors Brokerage Buyers 305

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. Lutz, a resident of Colorado, purchased a home in Key Colony, Florida, in 2021 with the help of a buyer’s agent employed by a HomeServices of America franchise.

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Sellers Realtors Real Estate Agent Real Estate 385

Housing Wire

AUGUST 21, 2023

Just days after awarding Zillow and National Association of Realtors (NAR) a major victory in their legal battle against REX Real Estate , the court made it clear that Zillow’s fight is far from over. A federal court judge concluded on Friday that in regard to REX’s false advertising claims against Zillow, the firm has proven “falsity.”

Advertising 344

Advertising Real Estate Agent Real Estate Agents 344

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Learn how you, the real estate investor, can avoid the bank and make an agreement directly with the seller. A land contract, also known as a land installment contract, is an executory financing agreement between a seller and a buyer.

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Contracts Tenants Legal Sellers 143

Housing Wire

JANUARY 22, 2024

Friedman’s suit was in regard to the 2021 sale of his Park Slope home, in which he paid a buyer broker commission. Instead, if a seller wishes to compensate the buyer’s agent, they must pay the agent themselves. It is not required for a seller to compensate a buyer’s agent. The rule went into effect on the first of this year.

Real Estate Agent 383

Real Estate Agent Real Estate Agents Sellers 383

Housing Wire

APRIL 16, 2024

The first Batton suit was filed in Illinois in January 2021 by Judah Leeder and later amended in July 2022 with Mya Batton as the lead plaintiff. The defendants in the suit include NAR, Anywhere , Keller Williams , HomeServices of America and RE/MAX.

Real Estate 335

Real Estate Realtors Law Legal 335

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. Masiello sold a home on an Arizona MLS through HomeSmart “in or about October 2021.” commission ($10,250) to the buyer broker.”

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Realty Realtors Real Estate Real Estate Agent 456

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents.

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Law Agents Realtors Contracts 406

Housing Wire

MAY 8, 2024

District Court for the Northern District of Illinois Eastern Division, where the case was originally filed in January 2021. When the settlement agreements were initially announced, it was generally understood that they only applied to claims brought by home sellers.

Brokerage 346

Brokerage Real Estate Sellers Development 346

Housing Wire

AUGUST 7, 2023

Things are continuing to heat up in Zillow Group’s legal battle with discount brokerage REX Homes , as the September 18, 2023, trial date looms ever closer. On Friday, Judge Thomas Zilly, the U.S.

Advertising 288

Advertising Law Brokerage Sellers 288

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 392

Agents Real Estate Agent Brokerage Real Estate 392

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. The Florida commission lawsuit was filed by Parker Holding Group , a Panama City-based firm that sold homes in March and August 2021, in Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County. 4, 2019 and the present.

Realty 416

Realty Realtors Brokerage Real Estate 416

Housing Wire

FEBRUARY 6, 2024

Originally filed by REX in March 2021 , against Zillow and the National Association of Realtors , the lawsuit alleges that changes made to Zillow’s website “unfairly hides certain listings, shrinking their exposure and diminishing competition among real estate brokers.”

Advertising 363

Advertising Real Estate Brokerage Agents 363

Housing Wire

NOVEMBER 7, 2023

Additionally, Compass posted a 98% principal agent retention rate for the quarter —the second-highest retention rate since the company went public in April 2021. Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said.

Agents 336

Agents Real Estate Agent Realtors Brokerage 336

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 420

Clients Agents Buyers Sellers 420

Housing Wire

DECEMBER 27, 2023

Zillow Group acquired ShowingTime in 2021. However, in 2021, the MLS defendants and other MLSs joined together to create MLS Aligned, which acquired another showing management platform which was rebranded as Aligned Showings. District Court in Arizona against Arizona Regional MLS and Wisconsin -based Metro MLS.

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Real Estate Agents Real Estate Agent Sellers 488

Housing Wire

MAY 29, 2024

By comparison, the Consumer Financial Protection Bureau (CFPB) issued orders to the five largest BNPL providers to submit their portfolio data for 2021. A spokesperson at Freddie Mac told HousingWire that BNPL debt is not mentioned in its seller/servicer guide, “which means sellers are not required to include them in the DTI ratio.”

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Mortgage Clients Sellers Loan Officers 354

Lamacchia Realty

FEBRUARY 2, 2023

WHY YOU SHOULD USE A REAL ESTATE ATTORNEY TO SELL YOUR HOME As a home seller you may think you are saving money by not hiring an attorney to guide you through the legal aspects of your sale but in actuality, it could end up costing you more not to! Again, this is a legal document that needs to be done right!

Real Estate 76

Real Estate Sellers Legal Inspection 76

Housing Wire

JANUARY 29, 2024

In an amended complaint filed on Friday, home sellers Danielle and Jessie Kay (who sold a house in Baden, Pennsylvania, in December 2021 with the help of an agent from Realty One Group Gold Standard ) were added as a plaintiff. The Pennsylvania copycat commission lawsuit has some new defendants and a new plaintiff.

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Brokerage Realty Real Estate Real Estate Agent 311

Housing Wire

MAY 23, 2023

In other words, independent mortgage banks (IMBs) acting as buyers in M&A deals are being asked to assume the future R&W liabilities for past loans sold to Fannie Mae by the seller should the seller, at some point, be unable to honor the terms of the contracts.

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Buyers Sellers Finance Contracts 346

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.

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Property Management Real Estate Agents Brokerage 358

Housing Wire

JANUARY 27, 2022

The home officially sold on May 14, 2021, for $16 million. As a result of this leak, Arrington tweeted that he and his family have been forced to move out of the house as their security team “could not find a way to make it work” and that they are taking ongoing legal action. There is usually more bark than bite,” Nourmand said.

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Agents Real Estate Real Estate Agent Realty 304

Housing Wire

JANUARY 31, 2022

The home officially sold on May 14, 2021, for $16 million. As a result of this leak, Arrington tweeted that he and his family have been forced to move out of the house as their security team “could not find a way to make it work” and that they are taking ongoing legal action. There is usually more bark than bite,” Nourmand said.

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Agents Real Estate Real Estate Agent Realty 297

Housing Wire

NOVEMBER 9, 2020

Earlier this year, Fannie Mae and Freddie Mac modified their Seller Guides and provided guidance on several policy areas to support mortgage originations. The FHFA reported the government sponsored entities expect e-mortgage purchases to increase in 2021.

Law 432

Law Legal Technology Real Estate 432

Lamacchia Realty

DECEMBER 11, 2023

From the Covid-19 driven frenzy in 2020 to the significant inventory slowdown this year , buyers , sellers , and agents have all had adapt and grow comfortable with change. What these sellers fail to recognize is that although FSBOs don’t require a commission, the homes typically sell for much less than if a REALTOR® handled the transaction.

Realtors 68

Realtors Real Estate Agent Sellers Realty 68

Housing Wire

JUNE 27, 2023

Bush and a vice president at Goldman Sachs before starting at the lender in 2021, listed several alleged violations related to lending practices. A representative for The Change Company and Levine’s attorneys did not return requests for comment. Levine, who was an assistant White House Press Secretary under President George W.

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Investors Law Insurance Lending 312

Lamacchia Realty

JUNE 8, 2021

If you believe your home has foundation damage and you’re looking to sell, there are a few steps you need to take to cover yourself legally and get the most money possible for your home. It’s a seller’s market right now and that means you have the power! April 8, 2021. February 4, 2021. Seller Resources.

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Real Estate Agent Inspection Realty Legal 66

Mashvisor

MAY 30, 2021

While many property sellers, buyers, and real estate professionals act professionally and keep the law for the most part, illegal real estate practices still occur every day. As a real…

Real Estate 74

Real Estate Investors Law Sellers 74

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.

Real Estate 295

Real Estate Brokerage Buyers Property Management 295

Lamacchia Realty

MARCH 23, 2022

Using these numbers, if a 2-unit property, valued at $615,000 was converted into 2 separate condos, each valued at $460K, the seller’s property value would be $920,000, which is $305K more than if they kept it as is. April 8, 2021. Seller Resources. April 8, 2021. How do I know if I can do it? Make it official.

Sellers 70

Sellers Realty Legal Buyers 70

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. Avoid 9 Costly Mistakes Sellers Make. The debt level, both current and anticipated in 2021, is worrisome. 2020 ended favoring sellers.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Eppraisal

OCTOBER 19, 2021

In fact, according to the National Association of Realtors, "94% of metro areas saw double-digit price growth in the second quarter of 2021." Buyers are offering sellers prices considerably above list price in many cases. This impacts the lenders, the sellers and the buyers in the transactions.

Appraisal 66

Appraisal Contracts Sellers Home Value 66

Lamacchia Realty

JANUARY 4, 2022

Listing agents are contractually bound to act in the best interest of their seller, not the buyer. They, along with your attorney , will also help you navigate through all the legal paperwork involved in purchasing a home. Some sellers take it to the next level with savvy tricks that you could easily get distracted with.

Buyers 74

Buyers Agents Inventory Sellers 74

Lamacchia Realty

NOVEMBER 2, 2021

If you’re selling your home in Massachusetts, you legally do not have to disclose asbestos, but you do have to disclose formaldehyde foam insulation and lead paint. April 8, 2021. June 15, 2021. Seller Resources. April 8, 2021. Do You Have to Disclose Asbestos When Selling Your Home? Additional Resources.

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Inspection Buyers Law Sellers 63