Housing Wire

JANUARY 16, 2024

“The gravamen of Plaintiff’s complaint is that anti-competitive BAREIS MLS rules, which Defendants agreed to, implemented, and enforced, require Class members to make a blanket, unilateral, and effectively non-negotiable offer of buyer broker compensation when listing a property on the BAREIS MLS,” the amended complaint states.

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Brokerage Realtors Realty Real Estate 432

Housing Wire

JANUARY 2, 2024

Umpa sold his Ohio home with Redfin and his Maryland home with Compass , and the suit states that he “paid a substantial buyer-broker compensation,” in both transactions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e., 27, 2019, and the present.

Sellers 420

Sellers Brokerage Real Estate Realtors 420

Housing Wire

FEBRUARY 16, 2024

“In the absence of NAR’s Mandatory Offer of Compensation Rule, the expense of buyer broker commissions would be incurred by their clients (homebuyers),” the complaint states. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present.

Real Estate 439

Real Estate Realtors Realty Brokerage 439

Housing Wire

JANUARY 18, 2024

The complaint names 35 entities as defendants, including the National Association of Realtors , local and national brokerages, MLSs and local Realtor associations. 17, 2020, and the present. 17, 2020, and the present. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit.

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Realtors Brokerage Realty Real Estate 530

Housing Wire

JANUARY 16, 2024

So, while I make no claim as to the specific deep legal issues, I have some familiarity of antitrust actions and more in the conduct of legal actions in a courtroom. No evidence of collusion First, according to the filings, the plaintiffs in the case presented no evidence at trial as to any collusion or conspiracy among the defendants.

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Agents Law Sellers Legal 407

Housing Wire

MARCH 25, 2024

Remain calm, trust that you are in the right place and go sell real estate,” Wendi Harrelson, the president of Keller Williams Realty International -owned regions, said during the presentation on Monday. Cooperative compensation is still legal,” Papasan stressed. The executives said they received more than 150 questions.

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Agents Advertising Real Estate Buyers 438

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

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Buyers Agents Loan Officers Real Estate 397

Housing Wire

OCTOBER 26, 2023

She said that HomeServices does not meddle in operations, give advice, or advise on commissions or how the brokerage approaches Realtor association membership. Despite not requiring NAR membership, Frazier said the brokerage does require agents to follow the NAR Code of Ethics. We don’t want people unrepresented.”

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Law Agents Brokerage Buyers 403

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. The 105-page complaint takes aim at a REBNY Listing Service rule called the Buyer Broker Commission Rule, which states that the brokers “shall each be paid an equal share of the commission as specified in the Exclusive Listing.” 8, 2019, and the present.

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Real Estate Brokerage Sellers Law 473

Housing Wire

OCTOBER 23, 2023

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. Roger Alford, a law professor from Notre Dame, was also called to testify on Friday.

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Legal Training Real Estate Realtors 403

Housing Wire

NOVEMBER 8, 2023

According to the plaintiffs’ initial complaint filing, the “cornerstone of the conspiracy” is NAR’s Clear Cooperation rule, which requires all home sellers to make a blanket, unilateral offer of buyer broker compensation when listing a property on the MLS. Its agents also offer buyer broker compensation.

Real Estate 431

Real Estate Sellers Realtors Real Estate Agent 431

Housing Wire

MAY 1, 2024

Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.” 1, 1996, and the present. The class for the suit is nationwide and encompasses all persons who purchased a home in the U.S. that was listed on a NAR-affiliated MLS between Dec. “

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Sellers Realtors Real Estate Agent Real Estate 438

Housing Wire

MARCH 8, 2024

Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The brokerage is part of the LeadingRE network. In a lawsuit filed on Tuesday in U.S. District Court in New Orleans, home seller plaintiff Joseph C. In 2023, it ranked as the No.

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Brokerage Sellers Realtors Agents 416

Housing Wire

NOVEMBER 27, 2023

Central to the complaint is NAR’s Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By The plaintiffs also take issue with the buyer’s alleged inability to negotiate their agent’s commission. 22, 2019, and the present.

Real Estate 450

Real Estate Real Estate Agent Sellers Realty 450

Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

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Real Estate Sellers Realtors Brokerage 404

Housing Wire

FEBRUARY 12, 2024

9, 2020, and the present, and paid a buyer broker commission. If NAR’s Adversary Commission Rule were not in place, then the cost of buyer broker commissions would be paid by their clients (home buyers),” the complaint states. Buyer brokers would thus have to compete with one another by offering a lower commission rate.

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Real Estate Real Estate Agent Realtors Buyers 441

Housing Wire

NOVEMBER 1, 2023

using a listing agent or broker affiliated with one of the seven brokerage defendants and paid a buyer broker commission from Oct. 31, 2019, to the present, the Halloween filing date befits the spooky consequences this suit may have for the industry. How big could this case be?

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Real Estate Brokerage Sellers Law 421

Housing Wire

JANUARY 9, 2024

commission ($10,250) to the buyer broker.” Like the other commission lawsuits, the Masiello suit takes aim at the National Association of Realtors’ 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 a Realtor-affiliated MLS.

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Realty Realtors Real Estate Real Estate Agent 466

Housing Wire

NOVEMBER 14, 2023

While the lawsuit does name large corporate brokerage firms as defendants, including Keller Williams , Side , HomeServices of America , and Fathom Realty , the robust defendant list also includes real estate teams, such as The Loken Group and Hexagon Group , as well as an individual broker, Mark Anthony Dimas. 13, 2019, to the present.

Real Estate 410

Real Estate Realtors Realty Buyers 410

Housing Wire

NOVEMBER 10, 2023

Compared to other lawsuits filed in recent weeks and the Moehrl , Nosalek and Sitzer/Burnett suits, the Burton lawsuit is relatively small, as Keller Williams is the only corporate brokerage named in the suit and Burton is the only plaintiff. The National Association of REALTORS® is reviewing this new filing and will respond to it in court.”

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Sellers Realtors Buyers Agents 431

Housing Wire

NOVEMBER 30, 2023

The three defendants who were present at the trial, NAR, Keller Williams and HomeServices of America , have all vowed to appeal the verdict. Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case.

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Legal Sellers Realtors Law 421

Housing Wire

OCTOBER 6, 2023

After roughly a month of speculation, Anywhere Real Estate and RE/MAX made the terms of their proposed settlement agreements in the Moehrl and Sitzer/Burnett buyer broker compensation class action suits public on Friday. In addition to the already publicized $83.5 They had $179 million at the end of Q2/2023 so about 45% of the cash on hand.

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Agents Brokerage Realtors Real Estate 407

Housing Wire

OCTOBER 23, 2023

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. 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.

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Law Agents Realtors Contracts 431

Housing Wire

DECEMBER 6, 2023

Defendants in the lawsuit include the Florida Association of Realtors , the nation’s largest state Realtor group with 238,000 members, and 16 large local brokerages, with agent counts ranging from 655 to nearly 4,000. 4, 2019 and the present. District Court for the Western District of Pennsylvania.

Realty 432

Realty Realtors Brokerage Real Estate 432

Housing Wire

JANUARY 11, 2024

Defendants’ conspiracy has artificially inflated broker commissions to a range of 5-6% of the sale price in nearly all residential real estate transactions in REBNY Brooklyn—half of which automatically goes to the Buyer Broker—an overcharge that is borne entirely by the home seller,” the complaint states. “In 29, 2019, to the present.

Real Estate 429

Real Estate Sellers Real Estate Agent Agents 429

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. Despite not being affiliated with NAR, MetroList adopted a rule similar to NAR’s Participation Rule, requiring listing agents to make a blanket offer of compensation to buyers’ brokers in order to list a property on the MLS. “By

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Realtors Real Estate Real Estate Agent Buyers 409

Housing Wire

DECEMBER 12, 2023

The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. 8, 2019, and the present. Of the brokerage defendants, eXp and Keller Williams were the only firms to comment on the new suit.

Realtors 450

Realtors Sellers Buyers Real Estate 450

Housing Wire

JANUARY 9, 2024

The suit takes aim at the National Association of Realtor’s 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 a NAR affiliated MLS. As with all of the other commission lawsuits, Tuccori’s suit is seeking class action status.

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Property Management Real Estate Agents Brokerage 416

Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.

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Real Estate Brokerage Buyers Property Management 323

Housing Wire

JANUARY 28, 2021

The update expands Zillow’s Local Legal Protections tool, which was created in 2018 to help LGBT home searchers identify if their rights were protected by local laws in certain jurisdictions. How this real estate brokerage’s unique model generates more profit for agents. Presented by: 1 Percent Lists.

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Landlords Tenants Law Legal 466

Housing Wire

DECEMBER 15, 2023

Defendants’ conspiracy has inflated and stabilized buyer broker commissions, resulting in higher total commissions paid by home sellers like Plaintiffs and Class members. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

Real Estate 473

Real Estate Realtors Realty Real Estate Agent 473

Housing Wire

APRIL 3, 2024

Like all of the publicly traded brokerages, Zillow Group saw its stock prices slide, dropping 13.4% Zillow is mostly known for its practice of selling buyer agent leads through its Premier Agent program, while Homes.com has touted its “your listing, your lead” model, which focuses on seller agents.

Real Estate 438

Real Estate Agents Buyers Business 438

Housing Wire

OCTOBER 31, 2023

One option is that NAR and the MLSs can no longer require cooperative compensation, but listing agents and their sellers can still offer the buyer broker compensation if they so choose. It is a situation where buyers need to pay their own agents and sellers have to pay their agent separately?” They got their butts kicked.”

Real Estate 479

Real Estate Landlords Law Design 479

Housing Wire

NOVEMBER 30, 2023

3] [4] Step 2: Select a sponsoring real estate brokerage The state of Ohio requires anyone who wants to be licensed as a real estate agent to be sponsored by a brokerage before they take the licensing exam. Ready to find a real estate brokerage? Look for a broker who specializes in that niche.

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Real Estate Real Estate Agent Brokerage Agents 426

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

FEBRUARY 9, 2021

Both sellers and buyers have a lot to lose. How to Diversify Your Brokerage to Weather Economic Hardship. Diversification is one approach brokerages can adopt to help ensure stability in unavoidable times of uncertainty, work to protect their revenue and – ultimately – financially weatherproof their business. Emotions run high.

Real Estate 473

Real Estate Agents Technology Sellers 473

Housing Wire

DECEMBER 29, 2021

Caballero does not have to guide these corporate clients through the legal and administrative work — and emotional heft — of selling a home. But what they do need is for the realtors that have buyers to have the complete and accurate information about their homes. So that those agents will bring their buyer to the builder.

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Realtors Real Estate Agent Agents Real Estate 378