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

NOVEMBER 3, 2023

In response, Glenn Sanford, the founder and chief executive of the company, which is parent to eXp Realty , expressed concern about low-income homebuyers who may not be able to afford representation “if the rules change too much.” “I But at eXp Realty, transactions were down 8.6% million (down from $4.4 million in Q3 2022).

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Buyers Realty Real Estate Realtors 404

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

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Brokerage Real Estate Realtors Legal 463

Housing Wire

JANUARY 16, 2024

In an amended complaint filed on Friday, the plaintiffs’ counsel named Vanguard Properties , Twin Oaks Real Estate , Windermere Real Estate Services Company , Rapisdara & Fox and Realty One Group , as additional defendants in the antitrust suit. 8, 2019, and the present. 8, 2019, and the present.

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Brokerage Realtors Realty Real Estate 432

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. For his part, David Kissinger, the CEO of Glendale Realtors, stated that the suit is “meritless.”

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Realtors Brokerage Realty Real Estate 530

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

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. brokerage that has saved consumers more than $1.5 As part of the settlement agreement, Redfin has agreed to pay $9.25 million into a qualified settlement fund within 30 days of the court’s preliminary approval of the agreement.

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Brokerage Realty Real Estate Agents 468

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., The lawsuit is seeking class action status for everyone in the U.S.

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Sellers Brokerage Real Estate Realtors 420

Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business. “We

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Buyers Contracts Real Estate Agents 479

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. These allegations are absurd.

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Realty Realtors Brokerage Real Estate 432

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 1, 2023

Can we ask if the buyer is represented now? Can we even discuss things about the house because if we inform the potential buyer of something about the house that makes them not want the house, even if it isn’t something necessarily bad, are we going against our agreement with our seller?”

Open Houses 479

Open Houses Brokerage Agents Realtors 479

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. Sloane Square , and Sotheby’s International Realty Affiliates. The anti-competitive nature of commission rule is clear when compared to other countries with competitive markets for residential real estate brokerage services.” is safe from a commission lawsuit. 1, 2024.

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Real Estate Brokerage Sellers Law 473

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.

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Real Estate Realtors Realty Buyers 410

Housing Wire

NOVEMBER 27, 2023

However, this time, the robust defendant list also includes some local real estate firms, including Harry Norman Realtors , Ansley Atlanta Real Estate , Atlanta Fine Homes , Solid Source Realty , Palmerhouse Properties , Higher Tech Realty and Hamilton Dorsey Altson Company. 22, 2019, and the present.

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Real Estate Real Estate Agent Sellers Realty 450

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. Don’t panic.

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Agents Advertising Real Estate Buyers 438

Housing Wire

DECEMBER 15, 2023

The suit also names a handful of local multiple listing services (MLSs), including Austin/Central Texas Realty Information Service, Central Texas Multiple Listing Service, Housing Realtors Information Service, and North Texas Real Estate Information Systems.

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Real Estate Realtors Realty Real Estate Agent 473

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 It also agreed to prohibit broker compensation appearing in the MLS fields.

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Agents Brokerage Advertising Real Estate 450

Housing Wire

DECEMBER 1, 2023

Originally filed in early November, the commission lawsuit known as the March suit , after its lead plaintiff, 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.”

Real Estate Agent 406

Real Estate Agent Real Estate Agents Brokerage 406

Housing Wire

NOVEMBER 7, 2023

million after the brokerage paid its commissions and related expenses. Hart cited two strategic acquisitions, Realty Austin in Texas and DPP in California, as part of its growth strategy. Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said.

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Agents Real Estate Agent Realtors Brokerage 400

Housing Wire

DECEMBER 20, 2023

After almost five years of litigation, it is clear that Keller Williams Realty, Inc. 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.

Real Estate 404

Real Estate Sellers Realtors Brokerage 404

Housing Wire

MARCH 8, 2024

Thanks to Lisa Chinatti, the broker-owner at Chinatti Realty Group , he was not completely caught off guard. She talks with a lot of people, and she announced to our company that this was coming and went through what exactly we should expect,” said Posnick, the sales manager at Chinatti Realty Group. Lisa is super on the pulse.

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Agents Legal Realtors Clients 430

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

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

Realtors 409

Realtors Real Estate Real Estate Agent Buyers 409

Housing Wire

JANUARY 26, 2024

Sparks and personal insults flew between Anthony Lamacchia , the broker-owner of Lamacchia Realty , and Michael Ketchmark, the lead attorney for the plaintiffs in the Sitzer-Burnett commission lawsuit , during their virtual debate hosted by HousingWire on Friday afternoon. First-time buyers barely have enough money to put down to buy a home.

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Realtors Law Agents Real Estate 441

Inman

JULY 5, 2023

Intel takes a look back at the market trends, brokerage strategies, Wall Street happenings and legal controversies that shook the past six months and could well define the remainder of 2023.

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Legal Brokerage Marketing Sellers 131

Housing Wire

JANUARY 27, 2022

ONE Sotheby’s International Realty agent Jessica Adams is under fire after TechCrunch co-founder and crypto investor, Michael Arrington took to Twitter on Tuesday alleging that Adams had leaked information about his purchase of a Miami waterfront mansion to the press, creating security concerns that forced him and his family to relocate.

Agents 361

Agents Real Estate Real Estate Agent Realty 361

Housing Wire

JANUARY 31, 2022

ONE Sotheby’s International Realty agent Jessica Adams is under fire after TechCrunch co-founder and crypto investor, Michael Arrington took to Twitter on Tuesday alleging that Adams had leaked information about his purchase of a Miami waterfront mansion to the press, creating security concerns that forced him and his family to relocate.

Agents 358

Agents Real Estate Real Estate Agent Realty 358

Housing Wire

NOVEMBER 16, 2021

One board member asked how much of the dues go to legal defense. Three of these measures – that a buyer agent’s expected compensation be disclosed, that MLS search results cannot be sorted based on commission compensation, and that buyer’s agents cannot imply they represent consumers for free – were each part of the scotched consent decree.

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Real Estate Agent Agents Real Estate Realtors 395

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

Raleigh Realty

FEBRUARY 4, 2022

What is Dual Agency in Real Estate and Should you Avoid it Most buyers and sellers are familiar with how listing agents and buyer’s agents work which leads us to the question of what is dual agency in real estate? My first transaction as a Real Estate Agent was as a dual agent representing both the buyer and the seller.

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Real Estate Real Estate Agent Sellers Agents 148

Raleigh Realty

MARCH 23, 2021

Buyers want to work with the best local Realtors® to help them when buying a home because it is such a large financial purchase with so many different components involved. It's important to reverse engineer the sales process as a seller as you will want to understand who your target buyer is and that is likely someone working with a Realtor.

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Real Estate Agent Real Estate Realtors Contracts 133

Lamacchia Realty

APRIL 4, 2024

They will be your best resource for the legalities of an estate sale. Legally, only the individual or individuals named as the executor or personal representative of the estate have the right to sell the home. The most common route for selling a home is to go through a real estate brokerage to put it on the market traditionally.

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Tenants Realtors Legal Real Estate 48

CA Realty Training

MARCH 8, 2021

That means the agent is either representing the buyer or the seller. You then get an opening to represent the buyer. You may be wondering how this even works because most buyers already have an agent…but that’s not always the case. Some buyers don’t commit to an agent until they’re serious about buying. By Karen D.

Real Estate 42

Real Estate Real Estate Agent Sellers Agents 42

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%.

Real Estate Agent 463

Real Estate Agent Loan Officers Real Estate Agents 463

Housing Wire

OCTOBER 31, 2023

According to Stella, as recently as a year ago he could print off a form from MLS Property Information Network (MLS PIN), his local MLS which is a defendant in the Nosalek commission lawsuit , for his sellers with no fields showing what the offered buyer agent compensation was going to be. That is what they forget. There is no such thing.

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Agents Buyers Sellers Realtors 450