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 390

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. Broker Studies.

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Real Estate Brokerage Agents Advertising 366

Housing Wire

MARCH 26, 2024

Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. 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 Realty 488

Housing Wire

APRIL 22, 2024

“In some markets, I could see those top agents earn more post the new norm (rather) than less, because they can say, ’This is what I charge and if you want to work with me, great, and if you don’t, that is fine because I am busy.’”

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Brokerage Agents Real Estate Buyers 318

Housing Wire

FEBRUARY 14, 2022

Redfin is a publicly traded company, a nationally recognized listings website and one of the biggest brokerages in the country. Way back in the drab plaid of the 1970s, brokerages often classified agents as employees and offered them health care and pension plans. With a two-year-old, I couldn’t meet the quota,” she said.

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Business Brokerage Real Estate Agent Agents 360

Housing Wire

AUGUST 3, 2023

This move comes as @properties aims to expand its business and enhance legal support across its portfolio of enterprises. Lopez, who joined @properties in November 2022 as Director of Legal, has proven herself as a key member of the leadership team for @properties and Christie’s International Real Estate.

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Legal Law Real Estate Brokerage 299

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.

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Brokerage Agents Real Estate Buyers 425

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. In addition to the monetary settlement, the firm has also agreed to change certain business practices as part of the settlement agreement. 31, 2023 , Douglas Elliman had $119.8 million of cash and cash equivalents on its balance sheet.

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Brokerage Agents Legal Realty 349

Housing Wire

MARCH 18, 2024

Jessica Edgerton , chief legal officer at LeadingRE , was also caught off guard by the timing of everything. “I It is going to go back to the way it was many, many years ago, when each brokerage had their own three-ring binder with their own listings in it,” Danzey said. “It It is really going to go backwards.

Brokerage 387

Brokerage Real Estate Agents Sellers 387

Housing Wire

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. The filing did not detail whether the firm agreed to any business practice changes as part of the settlement agreement. brokerage that has saved consumers more than $1.5 As the only U.S.

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Brokerage Realty Real Estate Agents 401

Housing Wire

APRIL 1, 2024

.” Kortas added that Grella was notified of his “impending termination’ a number of days prior and was “directly related to his tortious and intentional interference with NEXA’s business and, which was done in breach of his fiduciary duties.” But that’s not the case for the aviation business.

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Brokerage Business Loan Officers Legal 332

Housing Wire

AUGUST 17, 2023

Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. The undisputed evidence in this action shows that neither NAR nor its affiliated MLSs were involved in Zillow’s decision to implement the challenged two-tab display that allegedly drove REX out of business,” he added.

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Advertising Legal Brokerage Realtors 359

Housing Wire

JANUARY 16, 2024

According to the amended complaint, the firm does “substantial business” the Northern District of California. Twin Oaks is headquartered in Solano County and has roughly 100 agents, while Windermere is headquartered in Seattle and has over 6,500 agents.

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Brokerage Realtors Realty Real Estate 351

Housing Wire

JANUARY 3, 2023

UWM CEO Mat Ishbia announced in March 2021 that brokers who did business with Rocket Mortgage or Fairway Independent Mortgage could not also send loans to UWM, which the lender called the “All In” initiative. million by continuing to do business with both UWM and Rocket. According to the lender, AML owes it $2.8

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Legal Law Brokerage Mortgage 474

Housing Wire

JANUARY 2, 2024

The complaint argues that the NAR and the brokerage defendants collude “to impose, implement and enforce anticompetitive restraints that cause home sellers to pay inflated commissions on the sale of their homes, in violation of federal antitrust law.” “Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

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Sellers Brokerage Real Estate Realtors 374

Housing Wire

FEBRUARY 15, 2024

United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision and its owner, Ramon Walker, of trademark infringement. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. UWM is the largest U.S.

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Mortgage Legal Advertising Loan Officers 285

Housing Wire

FEBRUARY 14, 2024

I am a big believer in developing a brand for your real estate business from Day One. 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. Think this is something you can ignore? Think again.

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Real Estate Agent Real Estate Agents Brokerage 416

Housing Wire

NOVEMBER 1, 2023

I think it will come down to the individual brokers to get the damages, and that kind of money will put a significant amount of the brokers out of business,” the Berkshire Hathaway HomeServices Drysdale Properties broker-owner said. This doesn’t have some immediate impact on the way that we conduct business.” (It would swell to $5.36

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Open Houses Brokerage Agents Realtors 461

Housing Wire

APRIL 24, 2024

Another brokerage has decided to settle the commission lawsuits. The firm is not disclosing the dollar amount it is paying as part of the settlement agreement, but it noted that the terms are similar to those previously negotiated by Anywhere , RE/MAX , Keller Williams , Compass and The Real Brokerage.

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Brokerage Real Estate Agents Sellers 274

Housing Wire

JUNE 6, 2023

The settlement, reached on June 5, dismissed the lawsuit with prejudice, requiring Mid Valley to pay $40,000 to UWM, as the brokerage firm acknowledges that it sent loans to Rocket and/or Fairway after the ultimatum was in effect. UWM complained in the lawsuit that it provides brokers “considerable resources” to grow their businesses.

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Brokerage Contracts Legal Business 317

Housing Wire

APRIL 24, 2023

The case began in March 2021, when UWM CEO Mat Ishbia announced the lender would not work with brokers who also did business with Rocket Mortgage or Fairway Independent Mortgage. In February 2022, UWM filed a lawsuit against AML, claiming the brokerage firm owes $2.8 AML was not the first broker shop to enter a legal battle with UWM.

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Legal Law Retail Brokerage 308

Housing Wire

OCTOBER 24, 2022

Real estate brokerage and services company Anywhere Real Estate announced last week that it is appointing Tony Kueh as its first chief product officer. The Anywhere franchise, formerly known as Realogy , includes brokerages, consumer programs, lead generation, relocation, and title settlement services.

Real Estate 362

Real Estate Brokerage Technology Modernization 362

Housing Wire

SEPTEMBER 3, 2021

Federal judge Thomas Zilly issued a written order Thursday that found the complaint by real estate brokerage REX plausibly claims, “brokerages, agents, and even customers have no choice but to comply with NAR’s so-called optional rules.”. How Your Brokerage Can Evolve to Meet Ever-Changing Industry Forces.

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Brokerage Agents Real Estate Legal 420

Housing Wire

MAY 6, 2021

OWN Marin, a veteran team of five agents, announced last week that they switched from the New York-headquartered brokerage to the San Francisco-based outfit. The brokerage, which declined comment, has hundreds of agents in Marin County – which lies just north of San Francisco County – and is the no. billion in VC cash.

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Brokerage Agents Legal Valuation 369

Housing Wire

APRIL 23, 2024

In a follow-up interview, Sears told HousingWire that the November approval date will have no impact on the mid-July implementation of the business practice changes outlined in the settlement agreement. Sears announced that the plaintiffs have asked for a final approval hearing for the settlement on Nov.

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Realtors Brokerage Agents Real Estate 330

Housing Wire

NOVEMBER 10, 2022

The deal adds $2 billion in annual volume, 250 mortgage professionals and 31 branch offices to Movement’s book of businesses. . Houlihan Lokey served as financial advisor and Pierce Atwood served as legal advisor to Mortgage Network. Troutman Pepper was Movement’s legal advisor in the M&A transaction.

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Retail Mortgage Loan Officers Legal 370

Housing Wire

OCTOBER 27, 2023

the National Association of Realtors (NAR), et al kicked off this week in a Kansas City, Missouri, federal courtroom, there is a lot at stake for consumers and business competition. And the reality is that because of NAR’s rules, small businesses and brokerages of any size, service and pricing model can compete and thrive.

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Real Estate Agent Real Estate Realtors Buyers 455

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 remaining 50% of the settlement amount will be deposited into the fund within one year of the court’s preliminary approval.

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Brokerage Realtors Agents Clients 403

Housing Wire

MARCH 1, 2024

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business.

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Loan Officers Law Brokerage Business 390

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

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Contracts Loan Officers Legal Best Value 348

Inman

SEPTEMBER 18, 2023

Recent legal decisions have cast doubt on the value of diversity, equity and inclusion initiatives. Keller Williams Head of Inclusion and Belonging Julia Lashay Israel outlines why they're more important, and impactful, than ever.

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Business Legal Brokerage Agents 143

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 Almost any time in history the U.S.

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Agents Brokerage Advertising Real Estate 425

Housing Wire

MARCH 15, 2024

Getting referrals and cozying up to the sell side Mike Kortas, CEO at NEXA Mortgage , sent a clear message to the over 2,300 mortgage LOs at his mortgage brokerage: “Keep your eyes open, keep your ears open, listen for opportunities that are going to present themselves, and be ready to assist more buyers.

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Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

APRIL 23, 2024

Florance expressed confidence in CoStar’s business model, particularly in light of the recent commission lawsuit settlement by the National Association of Realtors. 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 287

Real Estate Advertising Legal Brokerage 287

Housing Wire

MAY 3, 2021

Filed last week in California state courts, the lawsuit is the latest legal drama involving Compass, the New York City-headquartered residential brokerage. The couple allege that the brokerage lured them in 2018 with the promise of a signing bonus, marketing budget, and office space. The second-largest brokerage in the U.S.

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Agents Brokerage Real Estate Agent Real Estate 393

Housing Wire

AUGUST 17, 2023

The CFPB claims that Freedom entered into marketing services agreements with more than 40 real estate brokerages, with monthly payments to brokerages totaling approximately $90,000. Freedom reportedly denied requests for event sponsorship from real estate brokerages that did not refer mortgage business to Freedom’s loan officers.

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Realty Mortgage Brokerage Real Estate 369

Housing Wire

JANUARY 10, 2022

Blum added that Erie Title Agency’s more advanced technological offerings, and legal and title expertise will also help the Erie Title Barristers Group provide clients with better closing experience than before. Howard Hanna Real Estate Services isn’t the only brokerage looking to expand its title and escrow services.

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Insurance Brokerage Clients Real Estate 320