Housing Wire

JUNE 28, 2024

The remaining brokerage defendants in the Batton 2 homebuyer commission lawsuit filed a joint motion to dismiss the suit last week. Finally, the defendants also claim that plaintiffs’ complaint is “untimely” as NAR’s rules have been public since 1996, yet the plaintiffs did not file the Batton 2 suit until 2023.

Brokerage 357

Brokerage Realtors Law Real Estate 357

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. In mid-May 2022, REX ceased its brokerage operations. In a verdict announced late Friday afternoon, a jury in a U.S.

Advertising 420

Advertising Brokerage Real Estate Legal 420

Housing Wire

SEPTEMBER 9, 2024

While not yet reaching the trillion-dollar mark, Miami ‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to the Miami Association of Realtors. Each closed over 50 transaction sides in 2023.

Real Estate 428

Real Estate Agents Marketing Real Estate Agent 428

Housing Wire

SEPTEMBER 12, 2024

While it hasn’t reached the trillion-dollar mark in residential real estate value held by cities like New York and Chicago , Charlotte’s market has nonetheless experienced significant growth, with total property values pushing $200 billion as of 2023. As of Sept. In this type of environment, the cream rises to the top.

Real Estate 421

Real Estate Agents Real Estate Agent Sellers 421

Housing Wire

JANUARY 29, 2024

In an amended complaint filed on Friday, home sellers Danielle and Jessie Kay (who sold a house in Baden, Pennsylvania, in December 2021 with the help of an agent from Realty One Group Gold Standard ) were added as a plaintiff. The Kays join John and Nancy Moratis in the suit that was originally filed in early December 2023 in the U.S.

Brokerage 397

Brokerage Realty Real Estate Real Estate Agent 397

Housing Wire

AUGUST 2, 2023

With the resilient but still slower housing market conditions of the second quarter of 2023, Zillow reported that traffic to its apps and site was at 226 million average monthly unique users, down from 234 million a year ago. Purchase loan origination volumes in Q2 2023 grew 30% sequentially from Q1 2023 and 73% year over year from Q2 2022.

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Agents Finance Sellers Housing Market 370

Housing Wire

AUGUST 9, 2024

HomeServices of America is one step closer to moving on from the home seller commission lawsuits. Bough — who is overseeing the Sitzer/Burnett and Gibson/Umpa commission cases — granted preliminary approval to the brokerage firm’s settlement agreement. On Thursday, Judge Stephen R. The Minnesota-headquartered firm had $133.8

Brokerage 385

Brokerage Sellers Agents Realtors 385

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. Below, we evaluated several platforms to find the top eight lead generation providers agents can buy real estate leads from in 2023. The name of the game here is search traffic and lead generation.

Real Estate 428

Real Estate Real Estate Agent Tools Agents 428

Housing Wire

AUGUST 26, 2024

A report from Redfin found that during the four weeks ending July 14, 2024, the typical metro Boston home seller paid their buyer’s broker a 2.15% commission, down from 2.2% Nationwide , the typical American home seller paid a 2.55% commission to their buyer’s broker during the four-week period ending July 14.

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Brokerage Agents Real Estate Business 500

Housing Wire

SEPTEMBER 10, 2024

Koleno currently leads the Chicago rankings with 1,784 transaction sides equating to near $683 million in 2023 volume, establishing him as one of the top agents in Illinois and placing him among the top three agents nationally by transaction sides. View Chicago’s RealTrends Verified City Rankings here. Click Here

Real Estate 408

Real Estate Agents Real Estate Agent Sellers 408

Housing Wire

MAY 7, 2024

The brokerage posted revenue of $225.5 million, an increase of 5% compared to the first quarter of 2023. million in Q1 2023 and well above its $23 million loss in Q4 2023. Redfin’s brokerage revenue hovered around $125 million, up 5% from a year ago. But it also reported a net loss of $66.8

Marketing 423

Marketing Brokerage Advertising Agents 423

Housing Wire

SEPTEMBER 11, 2024

Leading agents like Christa Huffstickler of Engel & Völkers Atlanta , Meko Fountain at Compass , and Shanna Bradley of Ansley Real Estate Christie’s International , dominate the market — each closing more than 70 transaction sides in 2023. Huffstickler’s 116 transactions equates to nearly $90 million in 2023 volume, making her the No.

Real Estate 322

Real Estate Agents Real Estate Agent Marketing 322

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. billion in sales volume in 2023, behind only Compass , Anywhere Advisors and eXp Realty.

Brokerage 466

Brokerage Agents Real Estate Buyers 466

Housing Wire

MAY 29, 2024

Coldwell Banker Realty , a New England-based residential real estate brokerage , welcomed James F. Wood, the brokerage announced on Tuesday. In 2023, Wood had more than $25 million in sales production and completed more than 35 transactions in Connecticut, New York and Massachusetts, according to a Coldwell Banker news release.

Realty 423

Realty Agents Luxury Properties Brokerage 423

Housing Wire

JULY 10, 2024

The median gross income for Realtors with at least 16 years of experience rose from $80,700 in 2022 to $92,500 in 2023. But for Realtors as a whole, the median gross income fell from $56,400 in 2022 to $55,800 in 2023. The typical Realtor earned 20% of their business from repeat clients in 2023, down from 27% in 2022.

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Realtors Inventory Agents Clients 410

Housing Wire

JUNE 14, 2024

According to the national real estate brokerage, only two months in the past decade have seen lower levels of home sales than last month. The second occurred in October 2023 when mortgage rates peaked at their highest point since 2000. The second occurred in October 2023 when mortgage rates peaked at their highest point since 2000.

Sellers 466

Sellers Buyers Contracts Brokerage 466

Housing Wire

FEBRUARY 2, 2024

Real estate brokerage eXp Realty has entered into an affiliated business agreement with Orlando, Florida -based title fi r m Citrus Closing Group , according to an announcement on Thursday. “We In 2023, the brokerage entered into an agreement with Virginia-based title firm Lares Title.

Business 391

Business Realty Brokerage Real Estate 391

Housing Wire

MARCH 8, 2024

District Court in New Orleans, home seller plaintiff Joseph C. 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.

Brokerage 420

Brokerage Sellers Realtors Agents 420

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

Real Estate 458

Real Estate Inventory Sellers Realtors 458

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. No other brokerage can offer agents a big traditional split and all the benefits, support, technology and customer introductions that we provide here at Redfin.

Agents 421

Agents Marketing Brokerage Real Estate 421

Housing Wire

MAY 14, 2024

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We People who are planning to buy a home by the end of 2025 expect to pay $483,490 on average, but 52% of those who have purchased since the start of 2023 have spent more than $500,000.

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Real Estate Agent Agents Real Estate Buyers 466

Appraisal Buzz

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer, according to a new analysis of MLS data by Redfin —down from an average of 2.62% reported in January. Commissions have been gradually declining over the past decade, from an average of 2.89% in 2013 to 2.66% in 2023. The typical U.S.

Agents 397

Agents Sellers Brokerage Real Estate Agent 397

Housing Wire

OCTOBER 3, 2023

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Some 22% said they were pessimistic, compared with 14% in the Q3 2023 survey. It ranked No.

Real Estate 425

Real Estate Brokerage Agents Training 425

Housing Wire

OCTOBER 3, 2023

“Empowering the nearly 90,000 trusted eXp Realty agents at America’s largest independent brokerage with on-demand, integrated access to an Opendoor cash offer will empower their millions of clients,” Nick Boniakowski, Opendoor’s head of agent partnerships, said in a statement.

Realty 421

Realty Brokerage Agents Clients 421

Housing Wire

JULY 31, 2024

The brokerage claimed on its second-quarter 2024 earnings call that it’s experiencing virtually no changes in commissions despite the $418 million settlement agreed to by the National Association of Realtors (NAR) following a string of lawsuits related to buyer commission rules. “It The call did come with a setback for agents.

Agents 420

Agents Brokerage New Listings Buyers 420

Housing Wire

FEBRUARY 27, 2024

Although Compass failed to achieve its much publicized goal of being free cash-flow positive in 2023, brokerage executives were still positive about the company’s performance over the past year. Compass attributed some of these struggles to the slower housing market of 2023, which saw Compass close 178,848 transactions, down 15.5%

Agents 415

Agents Brokerage Buyers Training 415

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. According to the filing, Masiello was “required to pay a 2% commission ($8,200) to the seller broker and a 2.5% 5, 2020, and the present.

Realty 466

Realty Realtors Real Estate Real Estate Agent 466

Housing Wire

JANUARY 17, 2023

plans to invest in tech, reduce vendor costs and focus on realtor partners in 2023. A subsidiary of HomeServices of America and owner of about 40 real estate brands across the country, the lender’s success is tied to its affiliated real estate brokerages’ business. Justin Messer, CEO at Prosperity Home Mortgage.

Mortgage 397

Mortgage Real Estate Real Estate Agent Realtors 397

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. “The effect of these rules is not simply that the seller must pay the buyer broker’s compensation,” the complaint states.

Sellers 432

Sellers Realtors Buyers Agents 432

Housing Wire

JANUARY 4, 2024

After a 2023 of real estate brokers saying they feel “neutral” or “pessimistic” about the housing market, some 48% of those surveyed for the Q1 2024 HousingWire BrokerPulse survey are optimistic that the next three months will be positive. Treble damages could result in the NAR and brokerages paying roughly $5.36

Brokerage 421

Brokerage Real Estate Training Buyers 421

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 414

Realtors Real Estate Brokerage Law 414

Housing Wire

FEBRUARY 28, 2024

Independent brokerage Howard Hanna Real Estate Services has partnered with Zillow ’s ShowingTime+ to allow agents in the Cleveland and Pittsburgh areas to leverage the Listing Showcase tool. Launched in June 2023, Listing Showcase is an AI-powered listing tool available exclusively on Zillow.

Tools 417

Tools Agents Real Estate Brokerage 417

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 431

Real Estate Sellers Real Estate Agent Realtors 431

Housing Wire

AUGUST 27, 2024

since July 2023. The brokerage analyzed Federal Housing Finance Agency data from first-quarter 2024 and found that roughly six in seven U.S. Many of those sellers will list if rates get back down to 5%.” predicting a 25-bps decrease. The federal funds rate hasn’t budged from its current range of 5.25% to 5.5%

Mortgage 431

Mortgage Real Estate Finance Brokerage 431

Housing Wire

FEBRUARY 15, 2024

Anywhere Real Estat e felt the brunt of slow home sales during the fourth quarter of 2023 as the company reported a loss of $107 million during the three-month period. million existing homes were sold in 2023, the fewest since 1995. It generated $1.3 billion in revenue in the fourth quarter, a decrease of 6% year over year.

Housing Market 408

Housing Market Marketing Brokerage Agents 408

Housing Wire

SEPTEMBER 19, 2023

Created in the first quarter of 2023, Nestfully was initially fed by three MLSs: California Regional MLS (CRMLS), Bright MLS and REcolorado. If added together, Nestfully’s five MLSs have 343,000+ agent and brokerage subscribers. Together, BeachesMLS and MIAMI SEFMLS serve more than 103,000 real estate professionals.

Realtors 408

Realtors Brokerage Real Estate Agents 408

Housing Wire

JULY 17, 2023

The world of real estate brokerage mergers and acquisitions has been turned on its head in the past 12 months. Buyers and sellers alike must learn to navigate these uncharted waters. Lower multiples Most of us still remember hearing the stories about the large companies gobbling up brokerages at six times EBITDA, or even more.

Real Estate 370

Real Estate Buyers Sellers Brokerage 370