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“Collusion,” agent training are the focus on day three of the Sitzer/Burnett trial

Housing Wire

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. The study attributes the “apparent uniformity of commission rates” to collusion. “Why

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Opinion: The elephant in the real estate room? Lowballed appraisals

Housing Wire

the collateral) being insufficient, accounts for approximately 3x the national rate ( HDMA 2022 data). Homeowners do not experience the exponential power of appreciation nor capital gains, meaning real estate is not the same long-term, wealth-building investment vehicle for everyone. What’s going on in Detroit, then?

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How to Become a Real Estate Agent in Illinois (IL) in 5 Steps

Housing Wire

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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How to get a real estate license in Ohio (OH) in 5 steps

Housing Wire

Wondering how to get a real estate license in Ohio in 2024? Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. How long does it take to get a real estate license in Ohio?

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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents.

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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Filed in late 2023 in Missouri by Daniel Umpa, a Maryland home seller, the Umpa suit , like the other commission lawsuits, accuses real estate industry players, including Real, of conspiring to artificially inflate real estate agent commissions. The Real Brokerage closed $14.4

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Real estate brokers, it’s time to audit your tech spending

Housing Wire

The first thing we go through when I work with real estate brokerages — whether it’s in helping them to streamline their technology or to prepare for sale — is their financials. That might mean sitting through some training videos. And, one thing that I always spot in these financials is excess spending.