Housing Wire

MARCH 18, 2024

In the 24 hours after news broke of the National Association of Realtors’ (NAR) settlement agreement in the commission lawsuits , Doug Danzey, the leader of the eXp Realty -brokered teamerage The Cobalt Group , said the most pervasive emotion among his agents has been panic. “I

Brokerage 411

Brokerage Real Estate Agents Sellers 411

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 501

Buyers Agents Mortgage Real Estate Agent 501

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Presented by: Axis Technical Group.

Brokerage 395

Brokerage Real Estate Lending Mortgage 395

Housing Wire

JULY 28, 2023

Real estate agents and business leaders play a pivotal role in improving the cities in which they operate, making community service an essential value to their professions. Demonstrate your values to customers Buyers and sellers want more than just transactional relationships with their agents.

Real Estate Agent 337

Real Estate Agent Real Estate Agents Clients 337

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. The firm also agreed that will not provide agents with any software that filters or restricts MLS listings based on the level of compensation being offered. Lorber, the chairman and CEO of Douglas Elliman, said in a statement.

Brokerage 388

Brokerage Agents Legal Realty 388

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. Anywhere will eliminate any minimum client commission requirements that company owned brokerages may have.

Buyers 427

Buyers Brokerage Agents Sellers 427

Housing Wire

NOVEMBER 17, 2021

Podcast: Comparing real estate team and brokerage profitability. Study: It’s true, real estate teams outperform brokerage firms. RealTrends Brokerage Compensation Report. However, these super-sized teams aren’t the only ones turning a profit — a profit that dwarfs most real estate brokerage’s profit. agents and 4.5

Real Estate 380

Real Estate Brokerage Agents Advertising 380

Housing Wire

JULY 19, 2023

Over the past year or so, we have seen an uptick in questions relating to commission disputes between brokers and their clients. A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. A seller-client cancels a listing.

Real Estate 321

Real Estate Legal Brokerage Clients 321

Housing Wire

APRIL 24, 2024

Another brokerage has decided to settle the commission lawsuits. Additionally, all agents licensed under these firms are also covered by the proposed settlement. The brokerage also said it will not provide agents with any software that filters or restricts MLS listings based on the level of compensation being offered.

Brokerage 294

Brokerage Real Estate Agents Sellers 294

Housing Wire

MAY 3, 2024

“While there are a lot of factors currently affecting the real estate market, one thing remains constant: RE/MAX agents leverage their skills, experience and competitive advantages to serve as many customers as they can,” said Erik Carlson , who was appointed as the firm’s CEO in November. He noted that the average RE/MAX agent closed 11.8

Agents 362

Agents Real Estate Training Buyers 362

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 381

Buyers Contracts Agents Realtors 381

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 370

Real Estate Brokerage Training Agents 370

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. Attorneys, Realtors and clients are a big part of our repeat business.”

Buyers 391

Buyers Agents Loan Officers Real Estate 391

Housing Wire

MARCH 22, 2024

Additionally, like the three other brokerage firms that have already settled, Compass has agreed to make changes to its business practices as part of the settlement. The reason we have chosen to settle is so we can minimize distractions and focus on serving you and your clients.”

Brokerage 437

Brokerage Realtors Agents Clients 437

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. “We have an unwavering commitment to our clients to provide the utmost client service experience,” said Wu.

Brokerage 311

Brokerage Legal Clients Real Estate 311

Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing. ” What’s at stake?

Buyers 454

Buyers Brokerage Agents Realtors 454

Housing Wire

NOVEMBER 1, 2023

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. billion in damages. (It It would swell to $5.36

Open Houses 474

Open Houses Brokerage Agents Realtors 474

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 400

Legal Real Estate Agents Realtors 400

Housing Wire

FEBRUARY 16, 2024

A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. The copycat commission lawsuit was filed on Friday in U.S. District Court in Las Vegas by Nevada home seller Angela Boykin. 16, 2020, and the present.

Real Estate 416

Real Estate Realtors Realty Brokerage 416

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. In addition to the already publicized $83.5 In the Sept.

Agents 386

Agents Brokerage Realtors Real Estate 386

Housing Wire

NOVEMBER 7, 2023

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. million after the brokerage paid its commissions and related expenses. Revenue decreased by 10% year over year to $1.34

Agents 367

Agents Real Estate Agent Realtors Brokerage 367

Housing Wire

OCTOBER 24, 2023

Goldberg responded that the analogy does not fit because agents are selling services and not a product. Goldberg said the rule needs to be mandatory, because cooperating participants have a right to know how they will be compensated prior to working with clients. Rodney Gansho, NAR’s head of engagement, took the stand after Goldberg.

Realtors 415

Realtors Agents Clients Buyers 415

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. The day started with video depositions of four real estate brokerage executives.

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Law Agents Realtors Contracts 422

Housing Wire

MARCH 15, 2024

With several of the major brokerage houses already having settled, NAR was in the untenable position of fighting to protect a business model that was already compromised by the settlements.” An industry insider at a top brokerage shared a similar sentiment. “We It also agreed to prohibit broker compensation appearing in the MLS fields.

Agents 443

Agents Brokerage Advertising Real Estate 443

Housing Wire

OCTOBER 6, 2023

NAR’s former general counsel Cliff Niersbach testified under oath that a seller’s agent cannot list a property on an MLS with an offer of zero. million payout, Anywhere has agreed to not require company owned brokerages, franchisees, or affiliated agents to belong to the NAR or follow the NAR Code of Ethics or MLS Handbook.

Brokerage 497

Brokerage Agents Buyers Clients 497

Housing Wire

DECEMBER 1, 2023

In an email blast sent to REBNY members, the New York City real estate agent trade group said it would “vigorously defend the litigation.” In its email, REBNY said that complaint is “laden with numerous inaccuracies regarding the RLS, the Universal Co-Brokerage Agreement, and the business of real estate.”

Real Estate Agent 380

Real Estate Agent Real Estate Agents Brokerage 380

Housing Wire

MARCH 21, 2024

While the news of the National Association of Realtors’ settlement agreement in the commission lawsuits may have created panic at some brokerages , local Realtor associations and Multiple Listing Services (MLSs) said they were not only anticipating the news but were prepared for it. To use or not use MLS?

Realtors 391

Realtors Agents Real Estate Logistics 391

Housing Wire

APRIL 23, 2024

The integration of Matterport to Homes.com will allow homebuyers to view properties online, helping agents to provide even more value to their clients. He believes in the success of Homes.com because it focuses on selling homes and building brands for both agents and brokerage firms.

Real Estate 317

Real Estate Advertising Legal Brokerage 317

Housing Wire

APRIL 17, 2024

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.” Since it was not, HomeServices is unable to compel arbitration, the brokerage argued.

Contracts 393

Contracts Brokerage Law Real Estate Agent 393

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. 2] DID YOU KNOW?

Real Estate Agent 398

Real Estate Agent Real Estate Agents Brokerage 398

Housing Wire

JANUARY 11, 2021

Rocket Homes Real Estate , a real estate affiliate of Rocket Companies , is being investigated by the Consumer Financial Protection Bureau (CFPB) for possibly violating the Real Estate Settlement Procedures Act (RESPA) when it charged fees for referring Quicken’s mortgage clients to real estate agents, according to officials.

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Real Estate Agent Real Estate Brokerage Law 401

Housing Wire

OCTOBER 27, 2023

Further, compensation is set between the brokers and their clients and is always negotiable. Real estate agents know city and county property taxes. They use their experience and expertise to negotiate on behalf of their client. And if those same consumers had to go it alone without buyer representation? The list goes on and on.

Real Estate Agent 461

Real Estate Agent Real Estate Realtors Buyers 461

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.

Realtors 364

Realtors Real Estate Brokerage Law 364

Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business. As of Jan.

Buyers 474

Buyers Contracts Real Estate Agents 474

Housing Wire

FEBRUARY 27, 2024

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. who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec.

Realty 390

Realty Real Estate Law Brokerage 390

Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri.

Real Estate 412

Real Estate Brokerage Sellers Law 412

Housing Wire

DECEMBER 6, 2023

Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. The lawsuit also names co-conspirators, including “local and state Realtor associations,” as well as “other brokerages within that geographic area.”

Realty 426

Realty Realtors Brokerage Real Estate 426