Housing Wire

APRIL 8, 2024

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

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Brokerage Real Estate Agent Real Estate Clients 370

Housing Wire

APRIL 22, 2024

Photo Credit: AJ Canaria) Between inflation , an uncertain interest rate environment and legal challenges , the real estate industry is facing unprecedented challenges. In fact, the sweet spot for acquisitions over the next couple of years is going to be the small one-office brokerage firms.”

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Brokerage Real Estate Agents Sellers 381

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business. In mid-May 2022, REX ceased its brokerage operations.

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Advertising Brokerage Real Estate Legal 395

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.

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Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

JANUARY 26, 2024

But all of that changed on Thursday, when Whaley’s counsel filed an amended complaint naming 15 brokerages as defendants. The Brokerage Defendants also serve an essential role in the conspiracy by executing the conspiracy’s objectives on the ground,” the complaint states. “In

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Brokerage Realty Realtors Sellers 398

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

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Brokerage Real Estate Realtors Legal 440

Housing Wire

MARCH 26, 2024

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. The following day, Bueker, a former KW agent from 2003 to 2011, filed a similar complaint in the U.S.

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Brokerage Legal Agents Realty 500

Housing Wire

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. As a result of this scheme, the purportedly non-negotiable commissions of buyer agents are rolled into the sale price of homes.

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Brokerage Realty Real Estate Agent Real Estate 430

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.

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Brokerage Agents Real Estate Buyers 455

Housing Wire

APRIL 15, 2024

Keller Williams was named to an additional class-action lawsuit this week that takes issue with alterations made to the brokerage’s profit-sharing program. 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.

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Brokerage Legal Agents Real Estate 382

Housing Wire

MARCH 25, 2024

During a virtual open house hosted by Keller Williams to answer agent and broker questions about the settlements in the commission lawsuits , the overwhelming message was for real estate professionals to focus on what they can control. Cooperative compensation is still legal,” Papasan stressed. Don’t panic.

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Agents Advertising Real Estate Buyers 415

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

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Brokerage Real Estate Agents Sellers 413

Housing Wire

MAY 3, 2023

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. My agent exchanged a few emails with the buyer’s agent over a few minor repair requests, but this was all buttoned up very quickly. Congratulations!” And that was that!

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Agents Real Estate Agent Brokerage Real Estate 406

Housing Wire

APRIL 9, 2024

Keller Williams was named to an eighth class-action lawsuit that takes issue with alterations made to the brokerage’s profit-sharing program. 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.

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Brokerage Agents Legal Real Estate 431

Housing Wire

MARCH 8, 2024

If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. JND Legal Administration is in charge of distributing the mailers, emails and press releases. Millions are expected to be sent out across America. “If

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Agents Legal Realtors Clients 411

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.

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Brokerage Agents Legal Realty 387

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.

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Brokerage Real Estate Lending Mortgage 397

Housing Wire

APRIL 10, 2024

R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. For too long our industry mandated agents join a trade association,” Haber told HousingWire. “We

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Real Estate Agent Real Estate Agents Legal 448

Housing Wire

APRIL 4, 2024

In the past few weeks, six agents formerly affiliated with Keller Williams — Jerri L. Davis — took legal action against the real estate brokerage by filing six separate class-action lawsuits. But that policy did not impact agents who joined before April 1, 2020. Moulder, David L. Bueker, Robert E. On Wednesday, Penny B.

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Brokerage Legal Agents Contracts 349

Housing Wire

FEBRUARY 14, 2024

The power of branding in real estate In the real estate world, there’s a prevailing belief that “You are the brand” as an agent. While you can develop name recognition over time, I believe that naming your team or brokerage something other than the leader’s name allows more opportunity for scale and differentiation.

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Real Estate Agent Real Estate Agents Brokerage 430

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

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Real Estate Brokerage Agents Advertising 381

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

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Agents Real Estate Training Buyers 337

Inman

APRIL 19, 2024

There's been a heapin' helpin' of new developments in the commission lawsuits. Here's how to pivot and be ready for whatever comes next.

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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 addition of the five local brokerages is not the only recent change to the list of defendants.

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Brokerage Realty Real Estate Real Estate Agent 341

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.

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Real Estate Agent Real Estate Agents Clients 334

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. The terms of Anywhere Real Estate ‘s $83.5

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Buyers Brokerage Agents Sellers 432

Housing Wire

JANUARY 16, 2024

Vanguard operates in Marin, Sonoma, Napa, San Francisco, East Bay and Palm Springs counties and has approximately 500 agents. Twin Oaks is headquartered in Solano County and has roughly 100 agents, while Windermere is headquartered in Seattle and has over 6,500 agents. The lawsuit was originally filed in U.S.

Brokerage 391

Brokerage Realtors Realty Real Estate 391

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. 2021 to a buyer represented by a Redfin agent. She was also represented by a Redfin agent in the transactions. The National Association of Realtors is facing yet another copycat commission lawsuit.

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Realtors Legal Agents Brokerage 395

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%.

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Clients Agents Buyers Sellers 431

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 296

Brokerage Real Estate Agents Sellers 296

Housing Wire

JULY 23, 2021

During the Q&A, Blake discussed the ramifications of previous DOJ investigations into NAR and conversations he has had with top-level agents on how they’re feeling about this news. How, if at all, does it practically affect agents? Mathew Blake: This is not an obscure, legal matter. HousingWire: Interesting insight.

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Real Estate Agent Real Estate Agents Brokerage 421

Housing Wire

OCTOBER 19, 2023

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. From this, Ketchmark said Keller Williams teaches its agents that a “model will work for you if you follow it.”

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Training Agents Real Estate Brokerage 398

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. The lender and LO can make or break the transaction.”

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Buyers Agents Loan Officers Real Estate 392

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.

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Real Estate Brokerage Training Agents 371

Housing Wire

APRIL 23, 2024

They also bar the trade group from establishing any sort of rules that would allow a seller’s agent to set compensation for a buyer’s agent. Offering cooperative compensation is legal in all 50 states and the four territories that we have Realtor associations, so we didn’t want to usurp state laws,” Sears said.

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Realtors Brokerage Agents Real Estate 369

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

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Open Houses Brokerage Agents Realtors 478

Housing Wire

OCTOBER 2, 2023

Redfin will soon be requiring agents to cancel their National Association of Realtors membership. After what the firm described as “careful deliberation,” Redfin will begin “requiring our brokers and agents to leave NAR everywhere we can. In leaving NAR, the brokerage said it will explore other ways to achieve those goals.

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Brokerage Agents Realtors Legal 381