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.

Brokerage 444

Brokerage Agents Real Estate Buyers 444

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.

Real Estate 377

Real Estate Brokerage Agents Advertising 377

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.

Brokerage 428

Brokerage Realty Real Estate Agents 428

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.,

Sellers 396

Sellers Brokerage Real Estate Realtors 396

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. Mere hours after news broke that Judge Stephen R. The biggest influence for the rule changes is class notification,” Sears told HousingWire.

Realtors 357

Realtors Brokerage Agents Real Estate 357

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

Open Houses 469

Open Houses Brokerage Agents Realtors 469

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 It is really going to go backwards.

Brokerage 404

Brokerage Real Estate Agents Sellers 404

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.

Realtors 380

Realtors Agents Real Estate Logistics 380

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. In the order, Zilly noted that NAR’s No-Commingling Rule was optional and that about 29% of Realtor-affiliated MLSs had not adopted the rule, without any repercussions from NAR.

Advertising 367

Advertising Legal Brokerage Realtors 367

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 427

Brokerage Realtors Agents Clients 427

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.

Brokerage 286

Brokerage Real Estate Agents Sellers 286

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.

Business 368

Business Brokerage Real Estate Agent Agents 368

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 big payouts class action attorneys say Realtors get for all that work they do? As the trial of Burnett v. The list goes on and on.

Real Estate Agent 457

Real Estate Agent Real Estate Realtors Buyers 457

Housing Wire

NOVEMBER 3, 2023

Thanks to provisions in both Anywhere’s and RE/MAX’s settlement agreements , as well as Redfin’s announcement that it would be requiring agents to cancel their National Association of Realtors membership, much of the speculation has focused on what will become of NAR’s 1.5 million members. Certainly there are a lot of places in the U.S.

Realtors 414

Realtors Agents Brokerage Contracts 414

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 369

Buyers Contracts Agents Realtors 369

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 380

Realty Real Estate Law Brokerage 380

Housing Wire

MAY 1, 2024

In the complaint, the plaintiff alleges that the National Association of Realtors ‘ (NAR) “Participation Rule,“ which requires listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list a property on the MLS, has driven up commission costs. that was listed on a NAR-affiliated MLS between Dec. “ .

Sellers 403

Sellers Realtors Real Estate Agent Real Estate 403

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. Unlike other MLSs, MetroList is not exclusively owned or operated by Realtor associations affiliated with the National Association of Realtors. Lyon & Associates , Guide Real Estate , Paul M.

Realtors 355

Realtors Real Estate Real Estate Agent Buyers 355

Housing Wire

NOVEMBER 1, 2023

The new lawsuit, known as Gibson after its lead plaintiff, accuses the National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman , of conspiring to inflate real estate agent commissions. Who’s named?

Real Estate 406

Real Estate Brokerage Sellers Law 406

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 307

Real Estate Advertising Legal Brokerage 307

Housing Wire

MAY 8, 2024

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Compass has the best value proposition for buyers of any brokerage firm,” Reffkin said. We are a company of top agents.”

Agents 361

Agents Brokerage Real Estate Clients 361

Housing Wire

MAY 1, 2024

Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky. billion in damages, as well as what the judge’s final ruling would look like.

Realtors 350

Realtors Real Estate Agent Real Estate Brokerage 350

Housing Wire

DECEMBER 12, 2023

The National Association of REALTORS will respond to this complaint in court.” Of the brokerage defendants, eXp and Keller Williams were the only firms to comment on the new suit. Our agile business model allows us to make adjustments seamlessly and effectively, no matter the jurisdiction.”

Realtors 436

Realtors Sellers Buyers Real Estate 436

Housing Wire

MARCH 15, 2024

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. Almost any time in history the U.S.

Agents 437

Agents Brokerage Advertising Real Estate 437

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

Real Estate 411

Real Estate Sellers Realtors Real Estate Agent 411

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.

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

AUGUST 7, 2023

Things are continuing to heat up in Zillow Group’s legal battle with discount brokerage REX Homes , as the September 18, 2023, trial date looms ever closer. In mid-May 2022, REX ceased its brokerage operations. On Friday, Judge Thomas Zilly, the U.S. NAR also believes its side will succeed in the lawsuit.

Advertising 308

Advertising Law Brokerage Sellers 308

Housing Wire

APRIL 28, 2022

Residential real estate brokerages will not do as well in 2022 as they did in 2021, but let’s not get carried away. Our mortgage business took a pretty tough hit,” said Ryan Schneider, who has been Realogy’s CEO since the start of 2018. We take it seriously, and we’ve got an experienced legal team.”.

Mortgage 353

Mortgage Brokerage Agents Real Estate Agent 353

Housing Wire

JUNE 10, 2021

REX grabbed national attention in March when the residential real estate brokerage filed a lawsuit alleging an antitrust conspiracy between listings giant Zillow and the powerful National Association of Realtors. The brokerage has “Co-listed properties with MLS agents to increase the online presence of client’s listings.”.

Real Estate Agent 369

Real Estate Agent Brokerage Real Estate Agents 369

Housing Wire

MARCH 25, 2024

Under the terms of the settlement agreements reached by both Keller Williams and the National Association of Realtors (NAR), cooperative compensation is still allowed. Cooperative compensation is still legal,” Papasan stressed. The team of executives first addressed the commissions, noting that they have always been negotiable.

Agents 404

Agents Advertising Real Estate Buyers 404

Housing Wire

FEBRUARY 1, 2024

On Thursday, the Gary Keller-helmed brokerage notified the federal court in Missouri that it had entered into a settlement agreement with the plaintiffs in the Sitzer/Burnett suit. Keller Williams has decided to bow out of the Sitzer/Burnett commission lawsuit. The settlement settles all home seller lawsuits nationwide.

Agents 464

Agents Realtors Real Estate Agent Real Estate 464

Housing Wire

OCTOBER 6, 2023

RE/MAX brokerages and affiliates from any claims related to these lawsuits. It Like Anywhere, RE/MAX will no longer require agents to be “members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook.” independent regions, and U.S.

Agents 477

Agents Real Estate Buyers Brokerage 477

Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs. in California.

Real Estate 306

Real Estate Brokerage Buyers Property Management 306

Housing Wire

AUGUST 28, 2023

Two days after a New York Times exposé of alleged sexual harassment and a culture of fear at the National Association of Realtors , President Kenny Parcell announced his resignation. Parcell was called out for alleged sexual harassment by 16 of the more than two dozen current and former NAR employees interviewed by the Times. “I

Realtors 447

Realtors Realty Brokerage Design 447

Housing Wire

APRIL 3, 2024

Many in the industry believe the National Association of Realtors ‘ proposed $418 million settlement of the commission lawsuits will help CoStar to reach its goal. Like all of the publicly traded brokerages, Zillow Group saw its stock prices slide, dropping 13.4% on the day of the NAR settlement announcement.

Real Estate 383

Real Estate Agents Buyers Business 383

Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” There will likely be fewer Realtors, the sales volume will be handled by fewer Realtors.

Buyers 387

Buyers Agents Loan Officers Real Estate 387

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. agent count.

Agents 351

Agents Real Estate Training Buyers 351