Housing Wire

NOVEMBER 1, 2023

In metros across the country, decade after decade, pre-internet and post-internet, buyer agents almost always get 2-3% of the sale price, paid by the seller, the researchers note. and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%. One of the researchers, Will Fried, had a hunch.

Clients 432

Clients Agents Buyers Sellers 432

Housing Wire

OCTOBER 19, 2023

1, REBNY rules will prevent the listing brokers from paying buyer agents and instead will require sellers to pay commissions directly. The rule will require listing agreements to clearly outline the seller’s offer of compensation to the buyer’s agent. Starting Jan.

Sellers 432

Sellers Agents Brokerage Real Estate 432

Housing Wire

AUGUST 28, 2020

The line between traditional iBuyer and brokerage is getting ever-so-blurry for venture-backed startup Opendoor. Home Reserve , launched in May, enables Opendoor to list sellers’ homes while purchasing and reserving their next home with all-cash offers. ” The post Opendoor launches… a brokerage?

Brokerage 537

Brokerage Real Estate Agent Agents Real Estate 537

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.

Brokerage 368

Brokerage Mortgage Training Lending 368

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 322

Brokerage Real Estate Agents Sellers 322

Housing Wire

AUGUST 18, 2023

The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023. The self-reported list ranks U.S. 186 spot on the Inc.

Brokerage 370

Brokerage Real Estate Realty Real Estate Agent 370

Housing Wire

JANUARY 29, 2024

Imagine if you could bottle the enthusiasm your clients have for working with you and use it to capture new business in 2024. In this article, we’ll show how to procure top-notch client testimonials, where and how to share them, and how to leverage them to bolster your reputation and close more deals in 2024.

Real Estate 409

Real Estate Clients Real Estate Agent Agents 409

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. 74% of sellers say they would use that same agent again, or recommend them to others.

Clients 270

Clients Real Estate Open Houses Agents 270

Housing Wire

MARCH 18, 2024

He didn’t want himself and his agents in a place where the day came, and they didn’t know how to prove their value proposition or negotiate their worth with a client. O’Neill believes that agents will have to be prepared for more discussions about commissions not only with clients but when negotiating offers on a property. “It

Brokerage 420

Brokerage Real Estate Agents Sellers 420

Housing Wire

MAY 2, 2024

Luxury brokerage Engel & Volkers Atlanta is expanding its footprint in the Georgia capital through the acquisition of AtHome & Co., will allow us to further our reach and deliver the highest quality service to more buyers and sellers.” the company announced on Wednesday. The addition of AtHome & Co.

Brokerage 256

Brokerage Real Estate Sellers Clients 256

Housing Wire

APRIL 22, 2024

In turn, this will allow agents to provide even more value to their clients. Additionally, Florance believes this model will succeed because it focuses on selling homes and building brands for both agents and brokerage firms. The lead diversion model has genericized real estate brokerages,” Florance said. Brands matter.”

Real Estate 381

Real Estate Brokerage Agents Real Estate Agent 381

Housing Wire

APRIL 22, 2024

My name is (your name), and I’m a licensed real estate professional with (your brokerage). Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell. We negotiated to get the sellers the highest price possible. Great news!

Real Estate 399

Real Estate Open Houses Brokerage Real Estate Agent 399

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. Anywhere will eliminate any minimum client commission requirements that company owned brokerages may have.

Buyers 432

Buyers Brokerage Agents Sellers 432

Housing Wire

FEBRUARY 16, 2024

A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. District Court in Las Vegas by Nevada home seller Angela Boykin. The copycat commission lawsuit was filed on Friday in U.S. 16, 2020, and the present.

Real Estate 437

Real Estate Realtors Realty Brokerage 437

Housing Wire

APRIL 30, 2024

Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent. But if the agent is representing both the buyer and the seller in the transaction — also known as dual agency — a written buyer broker agreement is needed.

Buyers 456

Buyers Open Houses Sellers Agents 456

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 421

Buyers Contracts Agents Realtors 421

Housing Wire

AUGUST 11, 2021

Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. Foremost is the ability for a home seller to work with an in-house Rocket real estate agent who is in “downtown Detroit” and will receive a commission of 1.5% of the sales price. of the sales price.

Real Estate 421

Real Estate Brokerage Real Estate Agent Agents 421

Housing Wire

MAY 2, 2024

Real estate brokerage William Raveis has returned to the acquisitions business. Founded in 2006, Carson Realty serves clients in the South Carolina markets of Hilton Head, Bluffton and Lake Keowee. Founded in 2006, Carson Realty serves clients in the South Carolina markets of Hilton Head, Bluffton and Lake Keowee.

Realty 256

Realty Insurance Brokerage Agents 256

Real Estate News

MARCH 27, 2024

Brokerages and agents need to communicate exactly how they serve buyers, just as they do for sellers — and what value those services bring to clients.

Buyers 242

Buyers Agents Brokerage Sellers 242

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.

Agents 417

Agents Marketing Brokerage Real Estate 417

Housing Wire

JULY 19, 2023

Over the past year or so, we have seen an uptick in questions relating to commission disputes between brokers and their clients. A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. A seller-client cancels a listing.

Real Estate 352

Real Estate Legal Brokerage Clients 352

Housing Wire

FEBRUARY 2, 2024

Real estate brokerage eXp Realty has entered into an affiliated business agreement with Orlando, Florida -based title fi r m Citrus Closing Group , according to an announcement on Thursday. “We Citrus Closing Group serves clients in the Florida counties of Lake Seminole, Osceola, Orange, and Brevard.

Business 369

Business Realty Brokerage Real Estate 369

Housing Wire

OCTOBER 3, 2023

1 brokerage by transaction side count announced the launch of eXp Exclusives , which will be open to eXp agents and their clients in the U.S. Through eXp Exclusives, participants will be able to share off-market and pre-market listings with other eXp agents and their clients through a mobile app. On Tuesday, the nation’s No.

Realty 431

Realty Agents Clients Tenants 431

Housing Wire

OCTOBER 3, 2023

With this integration, eXp agents will be able to request a cash offer on qualifying homes on behalf of their clients directly through their eXp agent dashboard. He continued: “This partnership gives sellers a simple and certain option, supported by their eXp Realty agent and backed by an Opendoor cash offer.

Realty 421

Realty Brokerage Agents Clients 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 reason we have chosen to settle is so we can minimize distractions and focus on serving you and your clients.”

Brokerage 456

Brokerage Realtors Agents Clients 456

Housing Wire

APRIL 24, 2024

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. The Umpa suit was filed in late December 2023 by a Maryland home seller.

Realtors 292

Realtors Real Estate Brokerage Law 292

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. Due to how HomeServices and its affiliates handle their client contracts, if a dispute arises, each client is entitled to individual arbitration of their claims. Filed in late 2023 in the U.S.

Realty 414

Realty Real Estate Law Brokerage 414

Housing Wire

OCTOBER 13, 2023

In both cases, our clients and Compass had to design new ways to structure the transaction to get a favorable outcome for all parties. Without revealing any confidential details, for example, Compass is using mostly its own equity rather than cash to deliver value to the sellers. This remains the most active part of the market.

Real Estate 407

Real Estate Brokerage Valuation Sellers 407

Housing Wire

JANUARY 4, 2024

Treble damages could result in the NAR and brokerages paying roughly $5.36 Brokers turn to robust agent training According to our survey, brokerage leaders aren’t sitting around waiting for change to occur. The defendants have been ordered to pay damages of $1.78 ” The value education was mentioned across the board.

Brokerage 418

Brokerage Real Estate Training Buyers 418

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

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

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.” It is not required for a seller to compensate a buyer’s agent.

Real Estate Agent 404

Real Estate Agent Real Estate Agents Brokerage 404

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. 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.

Realty 431

Realty Realtors Brokerage Real Estate 431

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. That’s a problem because mortgage LOs traditionally have not “forged as deep of inroads” with sellers’ agents.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

MARCH 20, 2024

Trading volumes in eight residential brokerage or listings companies rocketed up 319% to almost 80 million shares on Friday. NAR’s proposed settlement – which still needs court approval – includes several rule changes, including a new requirement that buyer agents to enter into a written buyer broker agreement with clients.

Investors 450

Investors Agents Real Estate Buyers 450

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 384

Realtors Real Estate Agent Real Estate Brokerage 384

Housing Wire

SEPTEMBER 13, 2023

Rather than a multi-year average of EBITDA or Gross Margin as the basis for the value of a brokerage firm (or their related counterparts in mortgage, title, escrow, and property management), valuations now are based Trailing Twelve Months (TTM or LTM) results.

Real Estate 371

Real Estate Valuation Brokerage Property Management 371