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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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Moehrl trial not likely until January 2025

Housing Wire

In November 2023, Wood indicated that the trial would take place in the fourth quarter of 2024 , but the status report findings appear to change the timeline. The suit obtained class certification in March 2023. The appeals court said that this was because the contracts signed by the sellers were not directly signed by HomeServices.

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Supreme Court denies HomeServices’ petition in commission suit

Housing Wire

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 369
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Flyhomes acquires ZeroDown, launches AI-powered home search portal

Housing Wire

Flyhomes CEO Tushar Garg said in a news release that the timing of the launch coincides with the National Association of Realtors ’ recent settlement regarding agent commissions, which has resulted in extensive changes that will go into effect on Aug. AI is quickly gaining momentum in the mortgage and real estate spaces.

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HomeServices asks Supreme Court to apply arbitration to Sitzer suit

Housing Wire

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 379
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Consumer advocacy group: Buyer agency agreements often contain “unfair” terms

Housing Wire

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 355
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Q1 AgentPulse survey: Agents aren’t yet fielding commission lawsuit questions

Housing Wire

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Some agents reported not having made any changes to their business due to the lawsuits, while others have. Always will too,” one wrote.

Agents 344