Housing Wire

JANUARY 2, 2024

For many real estate professionals, 2023 was the year of the commission lawsuit , and the year could not end without one last copycat suit. 2023, Umpa is a resident of Maryland and the lawsuit is in regards to the sale of two homes, one in Maryland and one in Ohio. The lawsuit is seeking class action status for everyone in the U.S.

Sellers 424

Sellers Brokerage Real Estate Realtors 424

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. 2021 to a buyer represented by a Redfin agent. While this is certainly not the only lawsuit Redfin has been named a defendant in, it is the first suit in which it is named as the sole real estate brokerage defendant.

Realtors 410

Realtors Legal Agents Brokerage 410

Housing Wire

MAY 8, 2024

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million.

Agents 386

Agents Brokerage Real Estate Clients 386

Housing Wire

OCTOBER 16, 2023

Regardless of the outcome, real estate brokers are doing all they can to prepare their brokerages and their agents for more transparency, education on the value real estate agents bring to the transaction, and more, according to the 2023 Q4 BrokerPulse survey , a forward-looking housing market sentiment survey by HousingWire.

Real Estate 385

Real Estate Brokerage Training Agents 385

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? So how is the uniformity and permanence of buyer agents’ 2-3% rate possible in a free market? One of the researchers, Will Fried, had a hunch.

Clients 457

Clients Agents Buyers Sellers 457

Inman

JULY 5, 2023

Intel takes a look back at the market trends, brokerage strategies, Wall Street happenings and legal controversies that shook the past six months and could well define the remainder of 2023.

Legal 124

Legal Brokerage Marketing Sellers 124

Housing Wire

NOVEMBER 30, 2023

19, 2023, deadline for submitting things like motions for summary judgment. “We Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case. The suit received class-action status in March 2023.

Legal 435

Legal Sellers Realtors Law 435

Housing Wire

NOVEMBER 7, 2023

Compass surprised positively in the third quarter of 2023 by posting a number of strong results. The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% million after the brokerage paid its commissions and related expenses. Revenue decreased by 10% year over year to $1.34

Agents 379

Agents Real Estate Agent Realtors Brokerage 379

Housing Wire

MARCH 8, 2024

Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The brokerage is part of the LeadingRE network. In 2023, it ranked as the No. In a lawsuit filed on Tuesday in U.S. District Court in New Orleans, home seller plaintiff Joseph C.

Brokerage 403

Brokerage Sellers Realtors Agents 403

Housing Wire

OCTOBER 6, 2023

After roughly a month of speculation, Anywhere Real Estate and RE/MAX made the terms of their proposed settlement agreements in the Moehrl and Sitzer/Burnett buyer broker compensation class action suits public on Friday. As for the end of Q2/2023 , RE/MAX had $96.76 In addition to the already publicized $83.5 Anywhere is paying $83.5

Agents 400

Agents Brokerage Realtors Real Estate 400

Housing Wire

NOVEMBER 20, 2023

The two corporate brokerages have received preliminary approval of their settlement agreements in the Sitzer/Burnett, Moehrl and Nosalek commission lawsuits. 22, 2023, to schedule final approval hearing. RE/MAX and Anywhere Real Estate can breathe a sigh of relief.

Legal 417

Legal Real Estate Agents Realtors 417

Housing Wire

JANUARY 9, 2024

commission ($10,250) to the buyer broker.” Like the other commission lawsuits, the Masiello suit takes aim at the National Association of Realtors’ Participation Rule, which requires listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list a property on a Realtor-affiliated MLS.

Realty 487

Realty Realtors Real Estate Real Estate Agent 487

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. Its agents also offer buyer broker compensation.

Real Estate 441

Real Estate Sellers Realtors Real Estate Agent 441

Housing Wire

NOVEMBER 10, 2023

Compared to other lawsuits filed in recent weeks and the Moehrl , Nosalek and Sitzer/Burnett suits, the Burton lawsuit is relatively small, as Keller Williams is the only corporate brokerage named in the suit and Burton is the only plaintiff. According to the complaint, Burton paid the buyer’s broker a 2.5% commission. “The

Sellers 447

Sellers Realtors Buyers Agents 447

Housing Wire

JANUARY 22, 2024

District Court in New York against the Real Estate Board of New York and several brokerages, according to court filings. 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.

Real Estate Agent 428

Real Estate Agent Real Estate Agents Sellers 428

Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years. Judge Stephen R.

Real Estate 328

Real Estate Brokerage Buyers Property Management 328

Housing Wire

NOVEMBER 2, 2023

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. If buyers’ agents become less common, Redfin will prosper in that world too,” Kelman said. “We

Agents 438

Agents Technology Housing Market Training 438

Housing Wire

MAY 1, 2024

Anywhere and RE/MAX settled in the early fall of 2023 prior to the mid-October start date of the Sitzer/Burnett trial, while Keller Williams did not decide to settle the commission lawsuits until February 2024, months after the trial had concluded. Dwiggins noted that unrepresented buyers also pose a major threat to the industry.

Realtors 375

Realtors Real Estate Agent Real Estate Brokerage 375

Housing Wire

APRIL 3, 2024

The battle began heating up in September 2023 when CoStar’s residential real estate platform Homes.com surpassed 100 million unique monthly visitors, becoming the second most popular listing portal behind Zillow. Like all of the publicly traded brokerages, Zillow Group saw its stock prices slide, dropping 13.4%

Real Estate 406

Real Estate Agents Buyers Business 406

Housing Wire

NOVEMBER 1, 2023

Barton also told listeners that Zillow believes complete disruption to the existence of buyer’s agents is improbable, as the firm believes it is important for buyers to have someone looking after their interests in the homebuyer transaction. However, if buyer’s agency does disappear, Zillow is considering models where the U.S.

Real Estate 468

Real Estate Advertising Agents Realtors 468

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 459

Sellers Buyers Real Estate Contracts 459

Housing Wire

FEBRUARY 15, 2024

The plaintiffs’ original motion to stay the litigation only discussed doing so for the brokerage defendants. But MLS PIN has nonetheless adopted a similar rule that requires listing brokers to offer a blanket, unilateral offer of compensation to buyer agents in order to submit a listing to MLS PIN. District Court in Boston.

Brokerage 393

Brokerage Real Estate Agent Buyers Real Estate 393

Housing Wire

JANUARY 9, 2024

In addition to the long running Moehrl commission lawsuit , as well as the Batton 1 and Batton 2 suits , the Prairie State is now home to the Tuccori suit, filed in early December 2023 by James Tuccori against @properties. The suit was originally filed in the Circuit Court of Cook County Illinois, but it was moved to the U.S.

Property Management 403

Property Management Real Estate Agents Brokerage 403

Housing Wire

MAY 3, 2024

“The key difference between our business model and that of many of our peers is that our model incentivizes agents to help buyers and sellers reach their housing goals, while some other models have incentivized their agents to recruit other agents, many of whom are not productive.” million in Q1 2023. annual decline in revenue to $78.3

Agents 376

Agents Real Estate Training Buyers 376

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. In mid-May 2022, REX ceased its brokerage operations. On Friday, Judge Thomas Zilly, the U.S.

Advertising 299

Advertising Law Brokerage Sellers 299

Housing Wire

SEPTEMBER 6, 2023

Anywhere Real Estate ’s settlement agreement in two class action antitrust lawsuits dealing with buyer broker compensation raises important questions about the future of buyer’s agency and how other defendants are viewing the fast approaching trials. million in damages for both the Moehrl and Sitzer/Burnett suits.

Agents 447

Agents Buyers Realtors Sellers 447

Housing Wire

FEBRUARY 1, 2024

On Thursday, the Gary Keller-helmed brokerage notified the federal court in Missouri that it had entered into a settlement agreement with the plaintiffs in the Sitzer/Burnett suit. Keller Williams has decided to bow out of the Sitzer/Burnett commission lawsuit. The settlement settles all home seller lawsuits nationwide.

Agents 493

Agents Realtors Real Estate Agent Real Estate 493

Housing Wire

NOVEMBER 30, 2023

3] [4] Step 2: Select a sponsoring real estate brokerage The state of Ohio requires anyone who wants to be licensed as a real estate agent to be sponsored by a brokerage before they take the licensing exam. Ready to find a real estate brokerage? Look for a broker who specializes in that niche.

Real Estate 412

Real Estate Real Estate Agent Brokerage Agents 412

Housing Wire

OCTOBER 9, 2023

How getting a real estate license in Illinois is different from other states While most states call the professional who represents a buyer or a seller of commercial or residential real estate a “real estate agent,” Illinois calls this individual a “real estate broker.” Ready to find a real estate brokerage?

Real Estate Agent 416

Real Estate Agent Real Estate Agents Brokerage 416

McKissock

MAY 15, 2023

Consider establishing side businesses such as home inspection, staging, and perhaps even brokerage. (It Don’t assume that because you know real estate from an appraiser’s perspective, that you can represent buyers or sellers successfully.) It takes a certain personality type to make it as a broker, though. Business insurance is a must.

Business 71

Business Appraisal Advertising Real Estate 71

Housing Wire

OCTOBER 22, 2023

Requirements to get your real estate license in Texas Getting your real estate license in Texas comes down to fulfilling your qualifying education requirement, applying for your license, getting your background check, taking and passing the exam, and finding a sponsoring brokerage. That’s an average pass rate of 58% for exam takers. [5]

Real Estate 399

Real Estate Real Estate Agent Agents Brokerage 399

Lamacchia Realty

APRIL 4, 2024

They will be your best resource for the legalities of an estate sale. Legally, only the individual or individuals named as the executor or personal representative of the estate have the right to sell the home. The most common route for selling a home is to go through a real estate brokerage to put it on the market traditionally.

Tenants 50

Tenants Realtors Legal Real Estate 50

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. according to the company.

Real Estate Agent 450

Real Estate Agent Loan Officers Real Estate Agents 450

Hank Miller Team

JANUARY 16, 2023

As 2023 opens, the economic hangover due to the free spending and pandemic handouts continue. The number of real estate agents soared to record highs, as did buyer remorse and complaints. The number of real estate agents soared to record highs, as did buyer remorse and complaints. Buyers MUST READ and understand what they sign.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Sellers 98

Housing Wire

AUGUST 16, 2023

Greg Vogel, the founder and CEO of Land Advisors , a Scottsdale-based land brokerage, had some stronger words about the analysis and the building ordinance. On August 4, 2023, 5,259 single family homes were for sale in Maricopa County, down from 11,890 homes on August 9, 2019, according to data from Altos Research.

Construction 325

Construction Agents Development Real Estate Agent 325

Appraisal Today

FEBRUARY 16, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions. Sometimes buyers like them and sometimes not. in October 2023. There are forms available.

Appraisal 79

Appraisal Contracts Training Architecture 79

Housing Wire

NOVEMBER 15, 2023

Ask the average real estate agent or broker in America if they believe the National Association of Realtors (NAR) and brokerages are likely to win the bombshell Sitzer/Burnett commission lawsuit case on appeal. But in the end, the people most affected by this legal limbo are the millions of agents and brokers themselves.

Realtors 421

Realtors Agents Real Estate Real Estate Agent 421