Housing Wire

NOVEMBER 1, 2023

The senior data scientist at appraisal tech startup True Footage previously worked at REX , a mostly defunct discount brokerage that charged seller fees as low as 2.5% Actions since NAR banned mandatory and recommended fee schedules in 1961 and 1971, respectively, have often focused on allegations of agents steering clients.

Clients 431

Clients Agents Buyers Sellers 431

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 307

Brokerage Real Estate Agents Sellers 307

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 449

Brokerage Realtors Agents Clients 449

Housing Wire

MARCH 27, 2024

Realtors , was founded in 2014 by Jackson and Matt Lesher. The brokerage boasts a team of roughly two dozen licensed agents , as well as support staff members in marketing, management and transaction coordination roles. ” Corcoran Prime, previously known as The Agency Inc. .

Brokerage 399

Brokerage Real Estate Tools Clients 399

Housing Wire

JULY 20, 2023

There have been numerous studies done on client retention over the years, and while the exact figures vary, most suggest that it can be anywhere from five to 25 times more expensive to acquire a new client than to keep an existing one. Set, and stick to, client retention goals. Repeat client business doesn’t happen by accident.

Clients 257

Clients Real Estate Open Houses Agents 257

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., The Gibson suit was filed in late October 2023 by Michael Ketchmark, just after a Missouri jury ruled in favor of his clients in the Sitzer/Burnett suit that found real estate industry players liable for colluding to artificially inflate agent commissions.

Realtors 280

Realtors Real Estate Brokerage Law 280

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 More off-MLS listings? It is really going to go backwards.

Brokerage 418

Brokerage Real Estate Agents Sellers 418

Housing Wire

APRIL 17, 2024

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” Since it was not, HomeServices is unable to compel arbitration, the brokerage argued.

Contracts 406

Contracts Brokerage Law Real Estate Agent 406

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 383

Real Estate Brokerage Agents Advertising 383

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. Douglas Elliman joins Realty One Group , At World Properties, Anywhere , RE/MAX , Keller Williams , Compass , HomeServices of America and The Real Brokerage, in settling the commission lawsuits.

Brokerage 404

Brokerage Agents Legal Realty 404

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 400

Buyers Contracts Agents Realtors 400

Housing Wire

NOVEMBER 29, 2023

A common thought among brokers revolves around the idea that if your gross commission income or office size is not increasing, you’re not successfully growing your brokerage. According to the National Association of Realtors (NAR), the average tenure of an agent with a brokerage is six years.

Agents 428

Agents Brokerage Training Real Estate 428

Housing Wire

DECEMBER 6, 2023

Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS. Both lawsuits are seeking class-action status. 4, 2019 and the present.

Realty 431

Realty Realtors Brokerage Real Estate 431

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 404

Realty Real Estate Law Brokerage 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 407

Realtors Agents Real Estate Logistics 407

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

MARCH 8, 2024

It was mid-February when clients, family and friends began asking Jason Posnick about strange postcards appearing in their mailboxes. Posnick noted that one client even had the settlement notification postcard on the kitchen table when he and another agent from the firm went to meet with the seller to sign their listing agreement.

Agents 422

Agents Legal Realtors Clients 422

Housing Wire

DECEMBER 12, 2023

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. The National Association of REALTORS will respond to this complaint in court.”

Realtors 449

Realtors Sellers Buyers Real Estate 449

Housing Wire

MARCH 18, 2024

It was a part of the 2022 REACH Canada Cohort, a technology scale-up program backed by the National Association of Realtors (NAR). By leveraging artificial intelligence to produce customizable, hyper-local videos for Realtors, Roomvu is setting a new standard for property marketing,” Thompson said.

Marketing 402

Marketing Real Estate Real Estate Agent Realtors 402

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.

Buyers 418

Buyers Open Houses Sellers Agents 418

Lamacchia Realty

APRIL 19, 2024

With Lynn comes local expertise of her hometown in Lunenburg where she has been the number one REALTOR since 2019, and all surrounding areas in north central Massachusetts. Along with being extremely motivated, Lynn is energetic, warm, and straight forward with her clients and never misses a detail.

Realty 74

Realty Realtors Training Clients 74

Housing Wire

OCTOBER 16, 2023

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. This includes understanding the value they provide, how to articulate this value to clients, and how to use buyer-broker agreements.

Real Estate 388

Real Estate Brokerage Training Agents 388

Housing Wire

JANUARY 31, 2024

After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” The internet can be a tool, but it is not a replacement for the essential services agents who are Realtors provide.

Real Estate Agent 456

Real Estate Agent Real Estate Realtors Agents 456

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. Who’s named?

Real Estate 419

Real Estate Brokerage Sellers Law 419

Housing Wire

FEBRUARY 5, 2024

In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions.

Contracts 405

Contracts Brokerage Law Real Estate Agent 405

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 429

Realtors Agents Brokerage Contracts 429

Housing Wire

FEBRUARY 12, 2024

Making an appearance on the defendant list are the National Association of Realtors , Anywhere and its franchise Century 21 Everest , HomeServices of America and its affiliates, RE/MAX , Keller Williams and two local franchises, Equity Real Estate , Realtypath and Windermere Real Estate Services.

Real Estate 438

Real Estate Real Estate Agent Realtors Buyers 438

Housing Wire

NOVEMBER 1, 2023

Pearson also has concerns about what this will now mean for how she and her agents handle client meetings or how to word things on open house fliers. “I Chinatti, who owns a large independent brokerage in Eastern Massachusetts, is also concerned about copycat lawsuits. I do believe they will.

Open Houses 479

Open Houses Brokerage Agents Realtors 479

Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing. million, respectively. ” What’s at stake?

Buyers 458

Buyers Brokerage Agents Realtors 458

Housing Wire

AUGUST 26, 2023

While women make up the majority of the National Association of Realtors® (NAR) membership (66%), they remain underrepresented in leadership roles across their respective brokerages. There are several steps brokerages can take to meet these goals. Holding ourselves accountable is the only way to truly learn and improve.

Real Estate 370

Real Estate Brokerage Realtors Business 370

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. Further, compensation is set between the brokers and their clients and is always negotiable. As the trial of Burnett v. The list goes on and on.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

Housing Wire

AUGUST 28, 2023

The top agents were previously at brokerage @properties. “We She ranked among the top 1% of Chicago Realtors in 2017 and is also a past president of the Women’s Council of Realtors. We’re excited to bring our business to the end-to-end Compass platform and integrate AI-based processes to the benefit of our clients,” Dobbs said.

Real Estate Agent 349

Real Estate Agent Agents Realtors Brokerage 349

Housing Wire

OCTOBER 6, 2023

In a surprising twist, the National Association of Realtors has announced a change in how interprets its Participation Rule, which requires listing brokers to provide buyer brokers an offer of compensation in order to list on the multiple listing service (MLS). Along with a $83.5

Brokerage 500

Brokerage Agents Buyers Clients 500

Housing Wire

OCTOBER 3, 2023

Redfin put the real estate industry on notice Monday morning, announcing that it will require agents to cancel their National Association of Realtors membership where possible. Agent compensation is set between brokers and their clients and has always been negotiable at any point in the transaction.”

Realtors 322

Realtors Brokerage Agents Real Estate 322

Housing Wire

OCTOBER 23, 2023

In the motion, HomeServices claimed that no evidence has been presented to show they conspired with the National Association of Realtors (NAR) and other brokerages on rules for commissions. The day started with video depositions of four real estate brokerage executives. The defense next called on NAR CEO Bob Goldberg to testify.

Law 430

Law Agents Realtors Contracts 430

Inman

DECEMBER 20, 2023

Brokerages have sprung into action as commission lawsuits proliferate — and not a moment too soon, according to the results of November's Inman Intel Index survey, released Wednesday.

Clients 187

Clients Brokerage Agents Realtors 187

Housing Wire

OCTOBER 24, 2023

KANSAS CITY, Missouri — National Association of Realtors CEO Bob Goldberg was back on the stand Tuesday morning at the start of the seventh day of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit. In his testimony, Goldberg maintained that the current system promotes an efficient marketplace.

Realtors 420

Realtors Agents Clients Buyers 420