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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

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47-year-old Florida indie brokerage joins RE/MAX

Housing Wire

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. “We

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Homelendia Mortgage launches mortgage brokerage franchises

Housing Wire

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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Panic! at the brokerage: Industry leaders plan next steps after NAR settlement

Housing Wire

Due to this, Edgerton and other industry leaders believe it is essential for agents to focus on training and education as the mid-July deadline looms just a few months away. 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.

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Majority of recent homebuyers have regrets: survey

Housing Wire

More than 80% of recent buyers asked for at least one seller concession. Importantly, however, 65% of these recent buyers also reported making at least one concession to the seller, indicative of the seller’s market that exists in many parts of the country. The survey also delved into the use of real estate agents.

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Q1 2024 BrokerPulse: Leaders predict flat home prices, lower interest rates

Housing Wire

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. It also opens the door to additional potential copycat lawsuits being filed in other states.

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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Third, Compass agents have doubled down on training to help them better communicate their value proposition.

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