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. Last year, mortgage rates increased from 3% to 8% and home prices still increased in most markets.

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Sellers Real Estate Agents Buyers 473

Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. Splitero’s business model allows homeowners to tap into up to $500,000 in upfront cash payments without income and credit score requirements or monthly payments.

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Brokerage Real Estate Investing Sellers 410

Housing Wire

MARCH 20, 2024

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. Every big brokerage has some of them, but if you think about some of the most productive agents, a lot of them sit on Compass’ platform.

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Brokerage Agents Realtors Real Estate 450

Housing Wire

SEPTEMBER 28, 2023

The allure of the name recognition of large national brands is causing many independent brokerages to affiliate as mortgage rates rise and housing inventory remains low. The brokerage, which was founded in 1976 by Gene Boone, will now be known as RE/MAX Foxfire.

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Brokerage Technology Agents Training 410

Housing Wire

FEBRUARY 8, 2023

Homelendia Mortgage LLC, a Florida-based mortgage brokerage franchisor, launched its mortgage brokerage franchises this week, offering individual unit and regional opportunities to qualified individuals, teams, brokerages and loan originators. That changes now,” Homelendia CEO Frank Chimento said in a press release.

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Brokerage Mortgage Training Lending 370

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.

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Real Estate Sellers Real Estate Agent Tools 421

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.

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Advertising Brokerage Real Estate Legal 421

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.

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Brokerage Real Estate Agents Sellers 402

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 420

Brokerage Realty Real Estate Agents 420

Housing Wire

MARCH 18, 2024

If the seller is willing to have that discussion, then you and your buyer can see what they would be willing to cover.” That would make it harder for agents to find all of the available properties for buyers and accurately price listings for sellers. “It You’ll need to make that adjustment and discuss that with your sellers.”

Brokerage 421

Brokerage Real Estate Agents Sellers 421

Housing Wire

OCTOBER 23, 2023

We’ve learned a few things along the way, and if you’re thinking about selling your real estate brokerage firm, whether next month or five years from now, one of our biggest pieces of advice can be captured in two words — clean data. Sellers must be prepared for complete transparency and to provide the innermost details of their company.

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Real Estate Brokerage Valuation Contracts 421

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. No other brokerage can offer agents a big traditional split and all the benefits, support, technology and customer introductions that we provide here at Redfin.

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Agents Marketing Brokerage Real Estate 421

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

MAY 2, 2024

Real estate brokerage William Raveis has returned to the acquisitions business. Our business model is unique. On Thursday, the family-owned firm announced that it had acquired South Carolina -based Carson Realty. The financial terms of the deal were not disclosed. We look forward to our partnership with Carson Realty (CR).

Realty 412

Realty Insurance Brokerage Agents 412

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.

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Brokerage Agents Real Estate Buyers 466

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. Each of our business segments performed at the top of the range we set last quarter, or above that range. Our brokerage sales initiatives are working,” Kelman said in a statement.

Marketing 275

Marketing Brokerage Advertising Agents 275

Housing Wire

SEPTEMBER 30, 2020

Howard Hanna Real Estate Services closed a huge deal late Tuesday, announcing a strategic partnership with Rand Realty , giving the massive independent brokerage a sizable foothold in the booming suburbs of New York City. The Rand family will continue managing the new firm, which also has a commercial arm and a title services business. “At

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Realty Brokerage Real Estate Sellers 410

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 370

Housing Wire

JULY 29, 2021

In the past, when brokers thought about low-fee brokerage firms, they thought of low service. But, there’s a new breed of low-fee brokerage (not to be confused with a discount brokerage which offers a low commission to buyers and sellers), that is a hybrid between a 100% model and a traditional brokerage.

Brokerage 370

Brokerage Real Estate Technology Agents 370

Housing Wire

APRIL 22, 2024

My name is (your name), and I’m a licensed real estate professional with (your brokerage). For letters, use the template below: Dear (first name), I’m (your name), a real estate professional with (brokerage). We negotiated to get the sellers the highest price possible. Call or text me with any real estate questions! Great news!

Real Estate 440

Real Estate Open Houses Brokerage Real Estate Agent 440

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.

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Buyers Open Houses Sellers Agents 466

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.

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Buyers Agents Mortgage Real Estate Agent 504

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

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.

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Real Estate Agent Real Estate Agents Brokerage 410

Housing Wire

JUNE 19, 2023

It is crucial to focus on capturing the business that exists in this market in the near term while also planting seeds with clients that will yield long-term rewards. Whether you’re on the brokerage or lending side, offering clients something that aligns with today’s narrative is key. Offer bundled services options.

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Real Estate Business Clients Client Relationships 369

Inman

APRIL 4, 2024

If agents want to beat out their local competition, writes trainer and leadership expert Jeff Glover, they need to start focusing on owning the listing inventory in their markets.

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Sellers Business Inventory Agents 138

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

FEBRUARY 28, 2024

Independent brokerage Howard Hanna Real Estate Services has partnered with Zillow ’s ShowingTime+ to allow agents in the Cleveland and Pittsburgh areas to leverage the Listing Showcase tool. Listing Showcase is a game changer for our business, providing powerful exposure and amplified visibility for our agents’ listings on Zillow.

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Tools Agents Real Estate Brokerage 421

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

APRIL 1, 2024

We’re beyond excited to begin this partnership and trust that our members will take advantage of to be the very best advocates for their home buyers and sellers.” “Our Our strategy is simple – be the independent source of information housing leaders seek first, and trust the most,” Clayton Collins, HousingWire CEO, said. “By

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Realtors Brokerage Tools Inventory 431

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

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.

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Buyers Contracts Agents Realtors 456

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 458

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

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

OCTOBER 3, 2023

“We are doubling down that all fiduciary relationships with buyers and sellers be in writing and that sellers understand their rights regarding commissions,” said a Keller Williams Real Estate leader in the Northeast. Another 10% are honing their value proposition , particularly as it relates to buyers’ agents.

Real Estate 431

Real Estate Brokerage Agents Training 431

Housing Wire

JANUARY 24, 2024

The tool also automatically builds advertising for agents that includes their business details, including their name and brokerage. Savvy home sellers understand that the market has shifted and many now expect digital advertising to be part of the listing agent’s marketing toolkit,” Collabra CEO Russ Cofano said in a statement.

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Technology Advertising Tools Agents 441