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 402

Brokerage Real Estate Agents Sellers 402

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 466

Brokerage Agents Real Estate Buyers 466

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 473

Brokerage Realty Real Estate Agents 473

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. 8, 2019, and the present.

Brokerage 450

Brokerage Realtors Realty Real Estate 450

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 370

Business Brokerage Real Estate Agent Agents 370

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.

Brokerage 421

Brokerage Business Loan Officers Legal 421

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

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 479

Open Houses Brokerage Agents Realtors 479

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 456

Buyers Contracts Agents Realtors 456

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.

Advertising 370

Advertising Legal Brokerage Realtors 370

Housing Wire

DECEMBER 1, 2023

The complaint alleges that due to this rule, home sellers in Manhattan paid inflated broker commissions. In its email, REBNY said that complaint is “laden with numerous inaccuracies regarding the RLS, the Universal Co-Brokerage Agreement, and the business of real estate.” The rule goes into effect on Jan.

Real Estate Agent 410

Real Estate Agent Real Estate Agents Brokerage 410

Housing Wire

MARCH 25, 2024

Cooperative compensation is still legal,” Papasan stressed. While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing.

Agents 441

Agents Advertising Real Estate Buyers 441

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.

Agents 450

Agents Brokerage Advertising Real Estate 450

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

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. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S. Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.”

Sellers 441

Sellers Realtors Real Estate Agent Real Estate 441

Housing Wire

FEBRUARY 27, 2024

District Court for the Western District of Missouri , the lawsuit is named after its lead plaintiff, Maryland home seller Daniel Umpa. who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec. Filed in late 2023 in the U.S.

Realty 421

Realty Real Estate Law Brokerage 421

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.

Brokerage 458

Brokerage Realtors Agents Clients 458

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 369

Advertising Law Brokerage Sellers 369

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. 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 Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

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 432

Real Estate Sellers Realtors Real Estate Agent 432

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 440

Agents Brokerage Real Estate Clients 440

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.

Brokerage 370

Brokerage Agents Legal Valuation 370

Housing Wire

APRIL 3, 2024

Like all of the publicly traded brokerages, Zillow Group saw its stock prices slide, dropping 13.4% Analysts and industry experts attributed the differing stock performances to the business-model discrepancies between Zillow and Homes.com. on the day of the NAR settlement announcement.

Real Estate 458

Real Estate Agents Buyers Business 458

Housing Wire

JULY 28, 2023

The importance of giving back to the community has never been more crucial or weighted with as much importance by the business world as right now. 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.

Real Estate Agent 370

Real Estate Agent Real Estate Agents Clients 370

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 431

Realtors Agents Real Estate Logistics 431

Housing Wire

MAY 1, 2024

When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. 16 to implement these changes. It is not about our own needs.

Realtors 420

Realtors Real Estate Agent Real Estate Brokerage 420

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 384

Real Estate Agent Brokerage Real Estate Agents 384

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. In a competitive market, the seller would pay nothing to the buyer broker, who would instead be paid by the buyer (their client), and the total commission paid by the seller would be set at a level to compensate only the seller’s broker,” the complaint states.

Realtors 450

Realtors Sellers Buyers Real Estate 450

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 324

Real Estate Brokerage Buyers Property Management 324

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. The plaintiffs in the suit are demanding a jury trial, as well as damages and a permanent injunction that prevents the defendants from retiring that sellers pay the buyer broker. Lyon & Associates , Guide Real Estate , Paul M.

Realtors 430

Realtors Real Estate Real Estate Agent Buyers 430

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 420

Agents Real Estate Training Buyers 420

Housing Wire

JANUARY 9, 2024

However, the suit is seeking both national and Illinois class action status for all persons who purchased a home listed on a NAR MLS with a buyer’s agent and or seller-agent employed or affiliated with @properties or any of its franchises, subsidiaries, or agencies between March 17, 2000, and the present.

Property Management 421

Property Management Real Estate Agents Brokerage 421

Housing Wire

OCTOBER 6, 2023

RE/MAX brokerages and affiliates from any claims related to these lawsuits. It Bailey also wrote that RE/MAX agents will “continue to have the freedom to set and/or negotiate commissions as they see fit,” and that the firm will develop educational materials to reflect these business practices. independent regions, and U.S.

Agents 485

Agents Real Estate Buyers Brokerage 485

McKissock

MAY 15, 2023

Thinking about starting an appraisal business? Perhaps you’re taking over that business because your mentor is retiring; maybe you’re relocating to another market; maybe you’re starting a competing firm. Depending on circumstances, the costs of starting an appraisal business can range from fairly high to very low.

Business 71

Business Appraisal Advertising Real Estate 71

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.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 397

Buyers Agents Loan Officers Real Estate 397

Housing Wire

JANUARY 26, 2024

“When the internet came along, it changed everything, except one thing — it didn’t change the way this business has run, and it is the corporate titans that are doing this.” That’s just one of the small details of our business that Michael is unaware of,” Lamacchia said. Don’t require the seller to pay for it,” Ketchmark said.

Realtors 441

Realtors Law Agents Real Estate 441

Housing Wire

SEPTEMBER 9, 2020

We recognized the potential of the Notarize platform and have worked with their team to tackle the legal and technical barriers to RON,” said Don Casey, president and CEO of Realogy Title Group. ” During the pandemic, RTG and Notarize said demand was particularly strong in Florida and Texas, and among corporate relocation businesses.

Insurance 397

Insurance Legal Brokerage Agents 397