Housing Wire

JANUARY 16, 2024

The first was a motion for judgement as a matter of law and the second was a motion for a new trial. 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. This evidence was not allowed to be presented to the jury.

Agents 377

Agents Law Sellers Legal 377

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. 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.

Real Estate 464

Real Estate Brokerage Sellers Law 464

Housing Wire

JANUARY 18, 2024

The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. It was filed on Wednesday in U.S.

Realtors 521

Realtors Brokerage Realty Real Estate 521

Housing Wire

SEPTEMBER 27, 2023

Many of these laws target specific types of real estate deemed crucial to national security, such as farmland or property near military installations, while other laws apply more broadly to all types of land. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

Law 376

Law Real Estate Legal Insurance 376

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 414

Real Estate Brokerage Sellers Law 414

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 389

Buyers Contracts Agents Realtors 389

Housing Wire

JULY 19, 2023

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. A seller-client permits the property to be foreclosed upon. A seller-client refuses to pay the full amount of the agreed upon commission.

Real Estate 329

Real Estate Legal Brokerage Clients 329

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. who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec. Filed in late 2023 in the U.S. No class can be certified in this scenario.”

Realty 396

Realty Real Estate Law Brokerage 396

Housing Wire

APRIL 11, 2024

But legal experts are not as certain. They could certainly intervene in the settlement negotiations, but they are not a party — they are just a party of interest,” said Paul Rogers, a professor of law who specializes in antitrust at Southern Methodist University’s Dedman School of Law. “It

Real Estate 436

Real Estate Law Realtors Legal 436

Housing Wire

NOVEMBER 30, 2023

An attorney for the plaintiffs, Robert Braun of Cohen Milstein Sellers & Toll, asked Wood if she would be willing to set a trial date for the third quarter of 2024. 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 413

Housing Wire

APRIL 24, 2024

involve common questions of law and fact, consolidation will conserve judicial resources and promote efficiency, and consolidation will not cause undue delay, confusion, or prejudice,” Bough wrote in his ruling. The Umpa suit was filed in late December 2023 by a Maryland home seller. National Association of Realtors , et al.,

Realtors 372

Realtors Real Estate Brokerage Law 372

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S. Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.”

Sellers 419

Sellers Realtors Real Estate Agent Real Estate 419

Housing Wire

SEPTEMBER 28, 2023

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. On Wednesday, just nine days after the long-awaited trial’s September 18 start date, the real estate behemoth file a motion for judgment as a matter of law in the U.S. District Court in Seattle hearing the trial.

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Advertising Legal Law Real Estate 401

Housing Wire

MARCH 15, 2024

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. Almost any time in history the U.S.

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Agents Brokerage Advertising Real Estate 444

Housing Wire

AUGUST 7, 2023

Things are continuing to heat up in Zillow Group’s legal battle with discount brokerage REX Homes , as the September 18, 2023, trial date looms ever closer. In mid-May 2022, REX ceased its brokerage operations. On Friday, Judge Thomas Zilly, the U.S. NAR also believes its side will succeed in the lawsuit.

Advertising 324

Advertising Law Brokerage Sellers 324

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.

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Realty Realtors Brokerage Real Estate 427

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?”

Real Estate 470

Real Estate Landlords Law Design 470

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

Real Estate 421

Real Estate Sellers Realtors Real Estate Agent 421

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. 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.

Realtors 444

Realtors Sellers Buyers Real Estate 444

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.

Legal 379

Legal Training Real Estate Realtors 379

Housing Wire

JANUARY 26, 2024

Lamacchia also stressed that it is impossible to claim that the system is rigged because sellers can choose how much compensation they offer the buyers’ broker, or whether they even want to offer cooperative compensation. Home sellers can do as they please, and if they don’t want to hire a Realtor, they don’t have to.

Realtors 432

Realtors Law Agents Real Estate 432

Housing Wire

APRIL 5, 2024

The brokerage firm argued that if these settlements are rejected or challenged, the math for the final judgement amount would change. The HomeServices filing also notes that the law requires the plaintiffs to “demonstrate a danger of hardship if its request is not granted,” which HomeServices says they failed to do.

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Brokerage Sellers Law Contracts 397

Housing Wire

DECEMBER 20, 2023

had no involvement in the issuance and or enforcement of NAR rules and that it did not impose those rules, including the Cooperative Compensation Rule, upon its franchisee brokerages or their affiliated independent contractor agents,” attorneys for Keller Williams wrote in the motion that both NAR and HomeServices joined.

Real Estate 371

Real Estate Sellers Realtors Brokerage 371

Housing Wire

JANUARY 28, 2021

Rentals listed on Zillow will now show whether or not they lie in a jurisdiction with local laws protecting renters from discrimination based on the use of Housing Choice Vouchers. The app also lists any local laws protecting renters who use veteran’s benefits or Social Security insurance payments to pay their rent.

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Landlords Tenants Law Legal 462

Housing Wire

MARCH 31, 2022

Meek did something big about this last year, shuttling through the Oregon legislature a law that bans “all non-customary documents” from prospective buyer to seller in a real estate deal. The most pressing issue is that Meek’s effort is now in legal limbo after U.S. Oregon State Rep. Mark Meek doesn’t know what comes next.

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Law Real Estate Legal Sellers 364

Housing Wire

MARCH 22, 2024

1, 2024 , Washington state’s agency law requires agents to have a written agreement with buyers (as well as sellers) to spell out the exact scope of the services provided by the agent, as well as the compensation the client has agreed to pay them in return. As of Jan. It is kind of like dating,” Sax said. “So,

Buyers 474

Buyers Contracts Real Estate Agents 474

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. As the saying goes, everything is bigger in Texas.

Real Estate 469

Real Estate Realtors Realty Real Estate Agent 469

Housing Wire

OCTOBER 24, 2023

This means sellers wind up paying inflated commissions at closing. Goldberg also told Ketchmark and the jury that Clear Cooperation gives the seller a larger homebuyer pool, however, he denied that Realtors steer clients to properties where sellers offer buyer’s agent compensation.

Realtors 416

Realtors Agents Clients Buyers 416

Housing Wire

OCTOBER 27, 2023

Sellers get access to the largest pool of buyers and the chance to sell their home for 35% more on average than for sale by owner. Sellers end up having fewer potential buyers seeing their homes and small brokerages struggle to compete with larger competitors if they can even stay in business.

Real Estate Agent 462

Real Estate Agent Real Estate Realtors Buyers 462

Housing Wire

AUGUST 21, 2023

Just days after awarding Zillow and National Association of Realtors (NAR) a major victory in their legal battle against REX Real Estate , the court made it clear that Zillow’s fight is far from over. REX ceased its brokerage operations in mid-May of 2022. The ruling came after REX filed a motion for summary judgement on the matter.

Advertising 364

Advertising Real Estate Agent Real Estate Agents 364

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. The plaintiffs in the suit are demanding a jury trial, as well as damages and a permanent injunction that prevents the defendants from retiring that sellers pay the buyer broker. Lyon & Associates , Guide Real Estate , Paul M.

Realtors 374

Realtors Real Estate Real Estate Agent Buyers 374

Housing Wire

SEPTEMBER 7, 2023

Some of the nation’s largest real estate brokerages, including Keller Williams, RE/MAX , HomeServices of America as well as the National Association of Realtors , are facing three class action lawsuits (NAR is only named as a defendant in two lawsuits) that could result in the industry paying out tens of billions in damages. “The

Buyers 392

Buyers Agents Loan Officers Real Estate 392

Housing Wire

SEPTEMBER 6, 2023

The biggest combined brokerage company in the country in terms of all their brands, just said, ‘We’re out. Worst case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said.

Agents 417

Agents Buyers Realtors Sellers 417

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 427

Clients Agents Buyers Sellers 427

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.

Real Estate 148

Real Estate Real Estate Agent Sellers Agents 148

Housing Wire

OCTOBER 9, 2023

How getting a real estate license in Illinois is different from other states While most states call the professional who represents a buyer or a seller of commercial or residential real estate a “real estate agent,” Illinois calls this individual a “real estate broker.” Ready to find a real estate brokerage?

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Real Estate Agent Real Estate Agents Brokerage 403

Appraisal Buzz

SEPTEMBER 26, 2022

It says buyer and seller are: Prudent and knowledgeable. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting speculatively with exuberance and assuming the price is affected by universal euphoria.

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Market Value Sellers Buyers Finance 321