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 406

Agents Real Estate Training Buyers 406

Housing Wire

APRIL 15, 2024

Although more agents are fielding questions about the commission lawsuits than they were a quarter ago , they also remain optimistic about where the housing market is headed in the second quarter of 2024, according to the RealTrends Q2 2024 AgentPulse survey. In a similar vein, “getting listings” was the third-largest hurdle cited by agents.

Inventory 419

Inventory Agents Real Estate Sellers 419

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 365

Real Estate Agent Real Estate Agents Clients 365

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 431

Buyers Contracts Agents Realtors 431

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 359

Real Estate Legal Brokerage Clients 359

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 397

Buyers Agents Loan Officers Real Estate 397

Housing Wire

OCTOBER 6, 2023

“We believe this is the right course of action to remove future uncertainty and ongoing legal expense, serving the best interests of the company, our affiliated agents and franchisees, and shareholders, and enabling Anywhere to focus on moving real estate to what’s next.”

Buyers 432

Buyers Brokerage Agents Sellers 432

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.

Buyers 479

Buyers Contracts Real Estate Agents 479

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Sellers 421

Sellers Buyers Real Estate Agents 421

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 421

Brokerage Real Estate Agents Sellers 421

Housing Wire

APRIL 24, 2024

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. Additionally, all agents licensed under these firms are also covered by the proposed settlement.

Brokerage 332

Brokerage Real Estate Agents Sellers 332

Housing Wire

NOVEMBER 8, 2023

Another day and another class-action antitrust commission lawsuit accusing the real estate industry of colluding to inflate real estate agent commissions has been filed. But this latest one comes with a twist — it was filed by homebuyers, unlike the others filed by home sellers.

Real Estate 432

Real Estate Realtors Sellers Agents 432

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

Real Estate 479

Real Estate Buyers Agents Sellers 479

Housing Wire

NOVEMBER 9, 2023

So, the fact that we are now seeing things further in the process come down to agents and brokers — I was not entirely surprised by that.” In addition to the DOJ, real estate agent commissions may have caught the eye of yet another government agency. Solicitor General Paul Clement to its legal team. “I

Legal 419

Legal Real Estate Real Estate Agent Law 419

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. She also agreed that every HomeServices agent in Missouri is a member of the MLS and that the firm advocates for clear cooperation.

Law 431

Law Agents Realtors Contracts 431

Housing Wire

NOVEMBER 20, 2023

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. “We are pleased with the court’s decision to grant preliminary approval of the settlement,” Nick Bailey, the president and CEO of RE/MAX, LLC.,

Legal 428

Legal Real Estate Agents Realtors 428

Housing Wire

OCTOBER 24, 2023

This means sellers wind up paying inflated commissions at closing. 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.

Realtors 421

Realtors Agents Clients Buyers 421

Housing Wire

APRIL 8, 2024

In addition to the monetary award, Real has also agreed to implement business policy changes as part of the settlement, including “clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.”

Brokerage 384

Brokerage Real Estate Agent Real Estate Clients 384

Housing Wire

OCTOBER 25, 2023

Ketchmark said that franchisees being members of their local Realtor associations and MLSs meant that they and their agents agreed to follow the bylaws of the Realtor associations. In response, Blefari said that HomeServices does not require agents to become NAR members nor participate in the MLS. I was a successful agent.

Sellers 421

Sellers Realtors Agents Buyers 421

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 458

Buyers Brokerage Agents Realtors 458

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.” The complaint alleges that due to this rule, home sellers in Manhattan paid inflated broker commissions. The work you do as agents and brokers moves New York City forward.

Real Estate Agent 407

Real Estate Agent Real Estate Agents Brokerage 407

Housing Wire

NOVEMBER 7, 2023

The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. That’s a 4% year-over-year increase of 511 principal agents since Q3 2022 and a 3% increase of 422 agents compared to the second quarter of 2023. Revenue decreased by 10% year over year to $1.34 So we have evidence in a major U.S.

Agents 402

Agents Real Estate Agent Realtors Brokerage 402

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 440

Real Estate Realtors Realty Brokerage 440

Housing Wire

FEBRUARY 16, 2024

“The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 432

Sellers Buyers Real Estate Contracts 432

Housing Wire

MARCH 29, 2024

The first change is that MLS PIN is agreeing to obtain certificates from their seller clients saying that they understand that MLS PIN does not require sellers to offer compensation to buyer brokers and that sellers are not required to compensate the buyer’s broker even when asked to by the buyer.

Sellers 432

Sellers Real Estate Buyers Contracts 432

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 479

Open Houses Brokerage Agents Realtors 479

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions. The copycat commission lawsuits have made it to the West Coast. 8, 2019, and the present.

Realtors 450

Realtors Sellers Buyers Real Estate 450

Housing Wire

MARCH 28, 2024

Originally filed in March 2019, the Moehrl lawsuit alleges that real estate industry participants including HomeServices, the National Association of Realtors (NAR), Anywhere , RE/MAX and Keller Williams conspired to artificially inflate real estate agent commissions. The class encompasses home sellers across 20 local MLSs.

Real Estate Agent 416

Real Estate Agent Realtors Real Estate Sellers 416

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.” We will continue to focus on what we do best: empowering real estate entrepreneurs so they can deliver exceptional value to their clients.” On Wednesday afternoon, Judge Andrea R.

Brokerage 384

Brokerage Realty Sellers Real Estate 384

Housing Wire

MARCH 15, 2024

In addition to the $418 million settlement amount, which will be paid into a court-controlled trust over a four-year period, NAR has also agreed to abolish all rules allowing seller’s agents to set compensation for buyer’s agents. It also agreed to prohibit broker compensation appearing in the MLS fields.

Agents 450

Agents Brokerage Advertising Real Estate 450

Housing Wire

OCTOBER 27, 2023

Further, compensation is set between the brokers and their clients and is always negotiable. Sellers get access to the largest pool of buyers and the chance to sell their home for 35% more on average than for sale by owner. Real estate agents know city and county property taxes. They decipher public property information.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

Housing Wire

MARCH 21, 2024

Based on NAR’s current rules, if a listing agent wants to list a property on a Realtor association-affiliated or -owned MLS, the agent must make a blanket offer of compensation, even if that offer is a as little as $0, to the buyer’s agent. Many non-Realtor association-owned MLSs have adopted similar rules.

Realtors 426

Realtors Agents Real Estate Logistics 426

Housing Wire

MARCH 22, 2024

These changes include that Compass firms will require or encourage agents to make it clear to clients that commissions are negotiable, that agents will have the freedom to set or negotiate commissions as they see fit, and that agents will not be required to make offers of compensation or accept offers of compensation from cooperating brokers.

Brokerage 457

Brokerage Realtors Agents Clients 457

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 421

Real Estate Brokerage Sellers Law 421

McKissock

JULY 6, 2022

One of the main responsibilities of a real estate agent is to effectively organize all the competing interests of a transaction (or pieces of the jigsaw puzzle). Most agents quickly realize that “coordinating the chaos” is a major part of their role in a given transaction. As agents, we know better.

Clients 87

Clients Real Estate Contracts Sellers 87

Housing Wire

DECEMBER 20, 2023

had no involvement in the issuance and or enforcement of NAR rules and that it did not impose those rules, including the Cooperative Compensation Rule, upon its franchisee brokerages or their affiliated independent contractor agents,” attorneys for Keller Williams wrote in the motion that both NAR and HomeServices joined.

Real Estate 407

Real Estate Sellers Realtors Brokerage 407

Housing Wire

FEBRUARY 1, 2024

The settlement settles all home seller lawsuits nationwide. This will not impact our operations or our ability to support our franchisees and agents,” Frost added in his email. According to Keller Williams spokesperson Darryl Frost, the firm will pay $70 million as part of the settlement agreement. The jury awarded full damaged of $1.7

Agents 473

Agents Realtors Real Estate Agent Real Estate 473