Housing Wire

MAY 9, 2024

Wood, who is overseeing the Batton suit as well as the Moehrl home seller commission lawsuit , said this request was “neither necessary nor appropriate.” As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 million , $55 million and $70 million , respectively. 26, 2024.

Brokerage 381

Brokerage Realty Sellers Real Estate 381

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. By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs. “As

Brokerage 429

Brokerage Realty Real Estate Agent Real Estate 429

Housing Wire

APRIL 1, 2024

The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers.

Sellers 466

Sellers Real Estate Agents Buyers 466

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 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

SEPTEMBER 19, 2023

BeachesMLS ’ and MIAMI REALTORS SEFMLS , South Florida ’s two largest Multiple Listing Services (MLSs), have begun providing complete listing data to Nestfully , a public search portal sourced directly from the MLS, the company announced last Wednesday. If added together, Nestfully’s five MLSs have 343,000+ agent and brokerage subscribers.

Realtors 371

Realtors Brokerage Real Estate Agents 371

Housing Wire

MAY 8, 2024

Robert Reffkin is confident that Compass and its agents have what it takes to continue growing and succeeding in the changing real estate environment. “In We are a company of top agents.” annual increase in the number of transactions closed by Compass agents, which came in at 38,449 sides for a volume of $40.1

Agents 369

Agents Brokerage Real Estate Clients 369

Housing Wire

JANUARY 18, 2024

The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. It was filed on Wednesday in U.S.

Realtors 513

Realtors Brokerage Realty Real Estate 513

Housing Wire

MARCH 22, 2024

With low housing inventory nationwide, agents are using innovative ways to find real estate seller leads and convert them into listings. To help you snag more listings, we updated our list of proven strategies to win more real estate seller leads in 2024. If you want a shot at generating seller leads online, you need one, too.

Real Estate 396

Real Estate Sellers Real Estate Agent Tools 396

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.

Advertising 393

Advertising Brokerage Real Estate Legal 393

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. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Agents 413

Agents Advertising Real Estate Buyers 413

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.

Brokerage 337

Brokerage Realty Real Estate Real Estate Agent 337

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. District Court in Las Vegas by Nevada home seller Angela Boykin. The copycat commission lawsuit was filed on Friday in U.S. 16, 2020, and the present.

Real Estate 416

Real Estate Realtors Realty Brokerage 416

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 388

Brokerage Realtors Realty Real Estate 388

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!

Agents 406

Agents Real Estate Agent Brokerage Real Estate 406

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 412

Brokerage Real Estate Agents Sellers 412

Housing Wire

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. According to Redfin, the settlement resolves all of the claims in the lawsuits and releases the firm, its subsidiaries and agents from the claims. brokerage that has saved consumers more than $1.5 As the only U.S.

Brokerage 421

Brokerage Realty Real Estate Agents 421

Housing Wire

JANUARY 26, 2024

“I was sitting on my couch and I saw Michael on CNBC calling us a cartel, saying that we take money that doesn’t belong to us, and I was infuriated at that rhetoric and I was infuriated at what that infers about Realtors,” Lamacchia said. “It It dehumanizes Realtors and turns us into money-making machines.”

Realtors 431

Realtors Law Agents Real Estate 431

Housing Wire

APRIL 30, 2024

As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements.

Buyers 465

Buyers Open Houses Sellers Agents 465

Housing Wire

MARCH 27, 2024

These are all untrue and offensive words that come up when searching “Realtors” or “Real estate agents.” But even with all the negative nouns used to describe some real estate agents, the majority of real estate agents are professional and valuable.

Real Estate Agent 299

Real Estate Agent Real Estate Agents Sellers 299

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. He noted that the average RE/MAX agent closed 11.8

Agents 359

Agents Real Estate Training Buyers 359

Housing Wire

MARCH 8, 2024

The mailers are titled “Notice of Proposed Settlements” and they began hitting the mailboxes of home sellers in mid-February. 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. What do the postcards say?

Agents 409

Agents Legal Realtors Clients 409

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. Both lawsuits are seeking class-action status.

Realty 429

Realty Realtors Brokerage Real Estate 429

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.

Brokerage 454

Brokerage Agents Real Estate Buyers 454

Housing Wire

APRIL 24, 2024

Another brokerage has decided to settle the commission lawsuits. Chicago-based At World Properties , which own @properties and Christie’s International Real Estate , has agreed to settle the nationwide class-action antitrust claims brought by home sellers.

Brokerage 295

Brokerage Real Estate Agents Sellers 295

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. Lutz, a resident of Colorado, purchased a home in Key Colony, Florida, in 2021 with the help of a buyer’s agent employed by a HomeServices of America franchise.

Sellers 412

Sellers Realtors Real Estate Agent Real Estate 412

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 379

Buyers Contracts Agents Realtors 379

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. As the saying goes, everything is bigger in Texas.

Real Estate 473

Real Estate Realtors Realty Real Estate Agent 473

Housing Wire

MAY 7, 2024

The brokerage posted revenue of $225.5 Redfin’s brokerage revenue hovered around $125 million, up 5% from a year ago. Kelman emphasized the transformative impact of Redfin Next, a program that offers commission splits of up to 75% to agents for self-sourced deals, rather than a base salary. million, up from a net loss of $60.8

Marketing 358

Marketing Brokerage Advertising Agents 358

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%.

Clients 431

Clients Agents Buyers Sellers 431

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

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

FEBRUARY 27, 2024

At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. You are being accused of not being transparent. “If

Buyers 415

Buyers Agents Real Estate Agent Clients 415

Housing Wire

MARCH 22, 2024

Compass has joined the National Association of Realtors , Anywhere , Keller Williams and RE/MAX in settling the commission lawsuits. 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.

Brokerage 436

Brokerage Realtors Agents Clients 436

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 a lawsuit filed on Tuesday in U.S.

Brokerage 385

Brokerage Sellers Realtors Agents 385

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 413

Real Estate Brokerage Sellers Law 413

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. Noticeably missing from the list is the National Association of Realtors. Instead, if a seller wishes to compensate the buyer’s agent, they must pay the agent themselves.

Real Estate 463

Real Estate Brokerage Sellers Law 463

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., 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 361

Realtors Real Estate Brokerage Law 361