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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 billion in sales in 2022 and will have to pay the Umpa settlement out of its own coffers.

Brokerage 378
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Proptech startup Courted grows its roster of brokerage partnerships 

Housing Wire

Co-founded by Sean Soderstrom, Dan Breitbach and Joe Urciuoli, the proptech company sells an AI-powered software platform to help real estate brokerages with their recruiting efforts. Courted identified three main problems with how brokerages have historically recruited agents. The firm raised $6 million in seed funding in May 2022.

Brokerage 378
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Bekki Shae Smith to join high-producing Georgia brokerage

Housing Wire

Path & Post Real Estate appointed Bekki Shae Smith to the role of managing broker, the Georgia -based boutique brokerage announced on Thursday. Before joining Path & Post, Smith was a Realtor , broker and partner at LOCAL Realty North ATL for three years. 2 spot in Georgia, according to RealTrends ’ 2023 America’s Best list.

Brokerage 395
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Zillow victorious in false advertising suit with discount brokerage

Housing Wire

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. In January 2022, NAR filed a countersuit claiming that REX uses false advertising and misleading claims to deceive consumers in violation of the Lanham Act, but the countersuit was dismissed in late April 2022.

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Deal or no deal? What opting in to NAR’s settlement could mean for some of the nation’s largest brokerages

Housing Wire

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

Brokerage 448
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2023 RealTrends real estate brokerage rankings show growth in low-cost firms

Housing Wire

2022 was a roller coaster year, continuing the strong pandemic and post-pandemic fueled housing market through the first half of the year. Despite market headwinds, the top brokerages continued to show growth in the 2023 RealTrends 500 brokerage rankings. 4 with 355,627 transaction sides in 2022 to No. of all Realtors.

Brokerage 416
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Compass settles commission lawsuits for $57.5 million

Housing Wire

Compass has joined the National Association of Realtors , Anywhere , Keller Williams and RE/MAX in settling the commission lawsuits. Additionally, like the three other brokerage firms that have already settled, Compass has agreed to make changes to its business practices as part of the settlement.

Brokerage 443