Housing Wire

MAY 2, 2024

It stated that associates who joined the brokerage on or after April 1, 2020, and subsequently jumped to a competitor would lose their revenues from the company’s lifelong revenue program. In February 2020, KW introduced a more restrictive policy to its profit-sharing program.

Agents 430

Agents Brokerage Legal Real Estate 430

Housing Wire

MARCH 26, 2024

Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. Under the updated policy, vested agents who joined before April 1, 2020, and actively compete with KW brokerages would see their profit share reduced from 100% to 5%.

Brokerage 509

Brokerage Legal Agents Realty 509

Housing Wire

SEPTEMBER 5, 2023

Real estate giant Anywhere has reached a settlement agreement in two of the major class action antitrust lawsuits facing the housing industry. The Sitzer/Burnett suit is slated to head to trial on October 16, 2023. A trial date has yet to be set for the Moehrl lawsuit. “We

Real Estate 448

Real Estate Buyers Legal Realtors 448

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story. The jury verdict came to $1.76 billion in damages.

Brokerage 470

Brokerage Agents Real Estate Buyers 470

Housing Wire

APRIL 22, 2024

In the past few weeks, 12 agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, Penny Alper, Jana and Dennis Caudill, Eric Mendoza, Jack Levine and John Exnicios — took legal action against the real estate brokerage by filing a host of class-action lawsuits.

Agents 401

Agents Brokerage Legal Real Estate 401

Housing Wire

NOVEMBER 30, 2023

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?

Real Estate 412

Real Estate Real Estate Agent Brokerage Agents 412

Housing Wire

APRIL 15, 2024

In the past few weeks, 11 agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, Penny Alper, Jana and Dennis Caudill, Eric Mendoza and Jack Levine — took legal action against the real estate brokerage by filing seven separate class-action lawsuits.

Brokerage 396

Brokerage Legal Agents Real Estate 396

Housing Wire

APRIL 9, 2024

In the past few weeks, seven agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, and Penny Alper — took legal action against the real estate brokerage by filing seven separate class-action lawsuits.

Brokerage 447

Brokerage Agents Legal Real Estate 447

Housing Wire

JANUARY 29, 2024

The Kays join John and Nancy Moratis in the suit that was originally filed in early December 2023 in the U.S. As for the defendants, real estate brokerages River Point Realty , Bovard-Anderson , Priority Realty , Rubinoff Realty Services and Found It PA were added in the amended complaint.

Brokerage 353

Brokerage Realty Real Estate Real Estate Agent 353

Housing Wire

APRIL 10, 2024

The current supervisory highlights summarize the overall results of supervised institutions in 2023, when the FDIC conducted about 900 consumer compliance examinations. Examiners found that institutions had violated Section 8 of the Real Estate Settlement Procedures Act (RESPA) and its implementation rule, Regulation X.

Brokerage 389

Brokerage Mortgage Development Insurance 389

Housing Wire

JANUARY 11, 2024

Getting your real estate license in California can take as little as 7.5 We’ll show you how to get a real estate agent in California, taking you through the process step-by-step. You’ll begin by fulfilling the required 135 California real estate course hours. You can save 30% using promo code HW30.

Real Estate 386

Real Estate Real Estate Agent Agents Law 386

Housing Wire

APRIL 4, 2024

Davis — took legal action against the real estate brokerage by filing six separate class-action lawsuits. It stated that associates who joined the brokerage on or after April 1, 2020, and subsequently jumped to a competitor would lose their revenues from the company’s lifelong revenue program. Moulder, David L.

Brokerage 364

Brokerage Legal Agents Contracts 364

Housing Wire

OCTOBER 9, 2023

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.

Real Estate Agent 416

Real Estate Agent Real Estate Agents Brokerage 416

Housing Wire

AUGUST 3, 2023

This move comes as @properties aims to expand its business and enhance legal support across its portfolio of enterprises. Lopez, who joined @properties in November 2022 as Director of Legal, has proven herself as a key member of the leadership team for @properties and Christie’s International Real Estate.

Legal 318

Legal Law Real Estate Brokerage 318

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. 31, 2023 , Douglas Elliman had $119.8 The settlement agreement reflects Douglas Elliman’s commitment to mitigating future uncertainties and limiting legal costs, which will benefit our Company, agents and stockholders,” Howard M.

Brokerage 400

Brokerage Agents Legal Realty 400

Housing Wire

APRIL 24, 2024

The Gibson suit was filed in late October 2023 by Michael Ketchmark, just after a Missouri jury ruled in favor of his clients in the Sitzer/Burnett suit that found real estate industry players liable for colluding to artificially inflate agent commissions. The Umpa suit was filed in late December 2023 by a Maryland home seller.

Realtors 378

Realtors Real Estate Brokerage Law 378

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. 27, 2019, and the present.

Sellers 424

Sellers Brokerage Real Estate Realtors 424

Housing Wire

MAY 8, 2024

Robert Reffkin is confident that Compass and its agents have what it takes to continue growing and succeeding in the changing real estate environment. “In million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million. First, more buyers are using agents in 2023 than in 2003.

Agents 386

Agents Brokerage Real Estate Clients 386

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. 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. Filed on Tuesday in U.S.

Realtors 410

Realtors Legal Agents Brokerage 410

Housing Wire

APRIL 23, 2024

CoStar Group reported a strong first quarter of 2024, with its revenue of $656 million marking a 12% increase from the $584 million figure it posted in first-quarter 2023. During CoStar’s earnings call on Tuesday, Florance insisted that consumers and advertisers prefer a real estate portal with digital twins. “We

Real Estate 334

Real Estate Advertising Legal Brokerage 334

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. In a copycat suit filed last Friday in U.S. Masiello sold a home on an Arizona MLS through HomeSmart “in or about October 2021.”

Realty 487

Realty Realtors Real Estate Real Estate Agent 487

Housing Wire

APRIL 17, 2024

The plaintiffs who signed the contract, however, sued a non-signatory parent company of the signatory brokerages, which “asserted liability based on the non-signatory’s relationship with its subsidiary.” Since it was not, HomeServices is unable to compel arbitration, the brokerage argued.

Contracts 409

Contracts Brokerage Law Real Estate Agent 409

Housing Wire

NOVEMBER 20, 2023

RE/MAX and Anywhere Real Estate can breathe a sigh of relief. 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.

Legal 417

Legal Real Estate Agents Realtors 417

Housing Wire

JANUARY 22, 2024

The real estate industry is facing one less copycat commission lawsuit. District Court in New York against the Real Estate Board of New York and several brokerages, according to court filings. According to Friedman’s initial complaint, this artificially inflated real estate agent commissions.

Real Estate Agent 428

Real Estate Agent Real Estate Agents Sellers 428

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. A federal court judge on Wednesday dismissed all antitrust allegations made by REX Real Estate against NAR and Zillow. In mid-May 2022, REX ceased its brokerage operations.

Advertising 365

Advertising Legal Brokerage Realtors 365

Housing Wire

NOVEMBER 1, 2023

In his remarks about the suit, Barton said Zillow is a strong supporter of free, fair and transparent access to real estate information, independent representation, and transparent and negotiable agent commissions. The real estate behemoth recorded $496 million in revenue, an increase of 3% year over year.

Real Estate 468

Real Estate Advertising Agents Realtors 468

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 million to settle.

Agents 400

Agents Brokerage Realtors Real Estate 400

Housing Wire

FEBRUARY 27, 2024

Filed in late 2023 in the U.S. Like the other commission lawsuits, the Umpa suit alleges that the National Association of Realtors (NAR) and more than a dozen other real estate industry firms have colluded to artificially inflate agent commissions. In the Umpa suit — which is seeking class-action status for everyone in the U.S.

Realty 406

Realty Real Estate Law Brokerage 406

Housing Wire

JULY 21, 2023

Maggie Wu has returned to Compass , and she’s bringing her four-person The W Team to the New York brokerage. In December 2021, she had left Compass to join the young brokerage SERHANT. With the move, Wu returns to where she began her career as junior partner on the Jing Chen Team in 2019. where she launched her own team.

Brokerage 294

Brokerage Legal Clients Real Estate 294

Housing Wire

FEBRUARY 6, 2024

REX Real Estate is back again trying to get a new trial in its false advertising lawsuit against Zillow. On Monday, the now defunct discount brokerage filed an appeal with the U.S. In mid-May 2022, REX ceased its brokerage operations.

Advertising 408

Advertising Real Estate Brokerage Agents 408

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. On Wednesday, just nine days after the long-awaited trial’s September 18 start date, the real estate behemoth file a motion for judgment as a matter of law in the U.S.

Advertising 419

Advertising Legal Law Real Estate 419

Housing Wire

NOVEMBER 8, 2023

The Missouri judge who oversaw the landmark Sitzer/Burnett real estate commission lawsuit will also preside over the Gibson lawsuit brought by Michael Ketchmark, who represented the plaintiffs in Sitzer/Burnett. One of the named defendants has a very different business model than the more traditional brokerages named in Sitzer/Burnett.

Real Estate 441

Real Estate Sellers Realtors Real Estate Agent 441

Housing Wire

FEBRUARY 5, 2024

In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions.

Contracts 414

Contracts Brokerage Law Real Estate Agent 414

Housing Wire

NOVEMBER 3, 2023

Real estate commissions are under the microscope. 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. Judge Stephen R. Bough of U.S.

Real Estate 328

Real Estate Brokerage Buyers Property Management 328

Housing Wire

MAY 1, 2024

Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky. billion in damages, as well as what the judge’s final ruling would look like.

Realtors 375

Realtors Real Estate Agent Real Estate Brokerage 375

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Guaranteed Rate Affinity is a joint venture established in 2017 by Guaranteed Rate and Anywhere Real Estate (former Realogy ).

Loan Officers 411

Loan Officers Legal Real Estate Lending 411

Housing Wire

JANUARY 3, 2024

His 2023 salary has not been made public yet. In Q3 2023 , Anywhere reported $1.6 billion in revenue and a net loss of $39 million in Q3 2023. Since going public in April 2021, Compass has yet to turn a profit, however, it did manage to achieve its goal of becoming free cash flow positive by the second quarter of 2023.

Legal Fees 437

Legal Fees Legal Marketing Finance 437