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 406

Brokerage Agents Legal Realty 406

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 428

Sellers Brokerage Real Estate Realtors 428

Housing Wire

JANUARY 9, 2024

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. 5, 2020, and the present. 5, 2020, and the present.

Realty 488

Realty Realtors Real Estate Real Estate Agent 488

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 390

Agents Brokerage Real Estate Clients 390

Housing Wire

OCTOBER 16, 2023

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Cost Management : About 10% of brokerages in the survey are looking into reducing overhead costs, possibly by consolidating offices or cutting certain expenses.

Real Estate 390

Real Estate Brokerage Training Agents 390

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. In the order, Zilly noted that NAR’s No-Commingling Rule was optional and that about 29% of Realtor-affiliated MLSs had not adopted the rule, without any repercussions from NAR.

Advertising 367

Advertising Legal Brokerage Realtors 367

Housing Wire

OCTOBER 6, 2023

million ( Anywhere ) and $55 million ( RE/MAX ) payouts, both settlements contained nearly identical terms, including provisions to no longer require agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook. As for the end of Q2/2023 , RE/MAX had $96.76 In the Sept.

Agents 405

Agents Brokerage Realtors Real Estate 405

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 lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit. The brokerage is part of the LeadingRE network.

Brokerage 408

Brokerage Sellers Realtors Agents 408

Housing Wire

NOVEMBER 30, 2023

Ethan Glass of Cooley, an attorney for the National Association of Realtors (NAR), took a different view and urged Wood to not set a date just yet, stating that it is “way premature” as the court has yet to even take motions for summary judgment, “let alone decide them.” The suit received class-action status in March 2023.

Legal 437

Legal Sellers Realtors Law 437

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 398

Buyers Contracts Agents Realtors 398

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 414

Contracts Brokerage Law Real Estate Agent 414

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. Some of these provisions include no longer requiring agents to be members of the National Association of Realtors or following NAR’s Code of Ethics or the MLS Handbook.

Legal 422

Legal Real Estate Agents Realtors 422

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.

Advertising 422

Advertising Legal Law Real Estate 422

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. Florance expressed confidence in CoStar’s business model, particularly in light of the recent commission lawsuit settlement by the National Association of Realtors.

Real Estate 338

Real Estate Advertising Legal Brokerage 338

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 380

Realtors Real Estate Agent Real Estate Brokerage 380

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 384

Agents Real Estate Agent Realtors Brokerage 384

Housing Wire

NOVEMBER 3, 2023

Thanks to provisions in both Anywhere’s and RE/MAX’s settlement agreements , as well as Redfin’s announcement that it would be requiring agents to cancel their National Association of Realtors membership, much of the speculation has focused on what will become of NAR’s 1.5 million members. Certainly there are a lot of places in the U.S.

Realtors 448

Realtors Agents Brokerage Contracts 448

Housing Wire

SEPTEMBER 5, 2023

The Sitzer/Burnett suit is slated to head to trial on October 16, 2023. We believe the settlement will remove future uncertainty with respect to the upcoming trial, potential additional claims, and legal expense, enabling Anywhere to focus on and continue delivering what’s next for agents and franchisees.

Real Estate 448

Real Estate Buyers Legal Realtors 448

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 410

Realty Real Estate Law Brokerage 410

Housing Wire

APRIL 16, 2024

billion in damages awarded by a jury in late October 2023, which is allowed in federal antitrust suits and then subtracting the $626.5 million in funds that resulted from the settlement agreements reached by Anywhere , RE/MAX , Keller Williams and the National Association of Realtors (NAR). 1, 2023) at the rate of 5.4%

Law 416

Law Realtors Brokerage Legal 416

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. Accepted by the court on Oct.

Real Estate 444

Real Estate Sellers Realtors Real Estate Agent 444

Housing Wire

FEBRUARY 6, 2024

On Monday, the now defunct discount brokerage filed an appeal with the U.S. In mid-May 2022, REX ceased its brokerage operations. A little over a year later, in mid-June 2023, the three parties involved in the suit, all filed motions for summary judgment on at least some issues, if not the entire lawsuit.

Advertising 413

Advertising Real Estate Brokerage Agents 413

Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. Burton sold her house with the help of a local Keller Williams agent in Spartanburg, South Carolina, in September 2023. commission.

Sellers 449

Sellers Realtors Buyers Agents 449

Housing Wire

NOVEMBER 1, 2023

While the industry has yet to find out what Judge Stephen Bough’s injunction will say and the three defendants, the National Association of Realtors , Keller Williams and HomeServices of America , have vowed to appeal the decision, Barton believes his firm will thrive regardless the outcome.

Real Estate 470

Real Estate Advertising Agents Realtors 470

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. Due to this, HomeServices said it sought to compel arbitration to determine whether the plaintiffs’ claims are arbitrable.

Contracts 418

Contracts Brokerage Law Real Estate Agent 418

Housing Wire

NOVEMBER 7, 2023

The settlement agreements outline specific policy changes, including no longer requiring agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook, and informing agents that they don’t have to make or receive offers of cooperative compensation. 31, 2019, to the present.

Brokerage 408

Brokerage Law Agents Realtors 408

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. 2023, REBNY announced changes to its rules , including a rule preventing listing agents from paying or offering to pay buyers’ agents compensation.

Real Estate Agent 432

Real Estate Agent Real Estate Agents Sellers 432

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 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. Those plans can be deferred from 2022 to 2023, but not forever.” million in Q3 2022.

Agents 443

Agents Technology Housing Market Training 443

Housing Wire

NOVEMBER 3, 2023

Right now, the first suit to go to trial should be the Sitzer lawsuit (named after its lead plaintiff), which was scheduled to begin on February 21, 2023, but at the request of Anywhere (referred to as Realogy in all court filings), it has been postponed indefinitely, as reported by Real Estate Reporter Brooklee Han. Judge Stephen R.

Real Estate 331

Real Estate Brokerage Buyers Property Management 331

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 304

Advertising Law Brokerage Sellers 304

Housing Wire

FEBRUARY 15, 2024

The plaintiffs’ original motion to stay the litigation only discussed doing so for the brokerage defendants. MLS PIN is broker-owned, so it is not required to abide by the rules of the National Association of Realtors (NAR), including its Participation Rule. The Keller Williams settlement has yet to receive preliminary approval.

Brokerage 398

Brokerage Real Estate Agent Buyers Real Estate 398

Housing Wire

APRIL 5, 2024

The brokerage firm argued that if these settlements are rejected or challenged, the math for the final judgement amount would change. In addition, the brokerage firm noted that it does not have an immediate interest in appeal as they are still dealing with their post-trial motions. In its filing, HomeServices petitioned the U.S.

Brokerage 412

Brokerage Sellers Law Contracts 412

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 412

Real Estate Agents Buyers Business 412

Housing Wire

MAY 3, 2024

But despite the uncertainty and the soon-to-beimplemented business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , RE/MAX leaders are confident in the brokerage’s ability to succeed in this changing environment. million in Q1 2023. million and a net loss of $3.4

Agents 381

Agents Real Estate Training Buyers 381

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 417

Real Estate Real Estate Agent Brokerage Agents 417

Housing Wire

SEPTEMBER 6, 2023

The biggest combined brokerage company in the country in terms of all their brands, just said, ‘We’re out. The National Association of Realtors , a defendant in both lawsuits, says it is not giving up the fight. As far as cooperation and compensation, that is now pretty much over,” Murray said.

Agents 447

Agents Buyers Realtors Sellers 447