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 It is really going to go backwards.

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Housing Wire

AUGUST 17, 2023

Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. In the order, Zilly noted that NAR’s No-Commingling Rule was optional and that about 29% of Realtor-affiliated MLSs had not adopted the rule, without any repercussions from NAR.

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Housing Wire

JANUARY 16, 2024

A few days ago, the three main defendants— National Association of Realtors , Keller Williams and HomeServices —in the Sitzer/Burnett case filed two motions with the court. 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.

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Agents Law Sellers Legal 384

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?

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Buyers Brokerage Agents Realtors 458

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. 4, 2019 and the present. Both lawsuits are seeking class-action status.

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Realty Realtors Brokerage Real Estate 431

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. Schulman had previously testified on Thursday and was questioned by Michael Ketchmark, the lead attorney for the plaintiffs.

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Housing Wire

MARCH 8, 2024

Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit. The brokerage is part of the LeadingRE network.

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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. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

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Real Estate Realtors Realty Real Estate Agent 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. 13, 2019, to the present.

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Real Estate Realtors Realty Buyers 410

Housing Wire

FEBRUARY 6, 2024

On Monday, the now defunct discount brokerage filed an appeal with the U.S. In its request for a new trial, REX argued that it was unfairly prevented from presenting testimony about agent commissions to the jury. In mid-May 2022, REX ceased its brokerage operations.

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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. Frazier also told the jury that ReeceNichols does not require agents to be members of the National Association of Realtors , but the local MLS does.

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Housing Wire

OCTOBER 6, 2023

million ( Anywhere ) and $55 million ( RE/MAX ) payouts, both settlements contained nearly identical terms, including provisions to no longer require agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook. In addition to the already publicized $83.5 In the Sept.

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Agents Brokerage Realtors Real Estate 396

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.

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Real Estate Sellers Realtors Real Estate Agent 426

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. Unlike other MLSs, MetroList is not exclusively owned or operated by Realtor associations affiliated with the National Association of Realtors. 18, 2020, and the present. Lyon & Associates , Guide Real Estate , Paul M.

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Realtors Real Estate Real Estate Agent Buyers 381

Housing Wire

MAY 1, 2024

In the complaint, the plaintiff alleges that the National Association of Realtors ‘ (NAR) “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 the MLS, has driven up commission costs. 1, 1996, and the present. “

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Sellers Realtors Real Estate Agent Real Estate 425

Housing Wire

NOVEMBER 30, 2023

Ethan Glass of Cooley, an attorney for the National Association of Realtors (NAR), took a different view and urged Wood to not set a date just yet, stating that it is “way premature” as the court has yet to even take motions for summary judgment, “let alone decide them.” The suit received class-action status in March 2023.

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Legal Sellers Realtors Law 418

Housing Wire

NOVEMBER 1, 2023

The new lawsuit, known as Gibson after its lead plaintiff, accuses the National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman , of conspiring to inflate real estate agent commissions. Who’s named? How big could this case be?

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Real Estate Brokerage Sellers Law 418

Housing Wire

NOVEMBER 27, 2023

The defendants in the lawsuit include the usual big-name real estate players, such as the National Association of Realtors , HomeServices of America , Keller Williams , RE/MAX , Christie’s International Real Estate , Anywhere , Compass , Engel & Völkers and HomeSmart. 22, 2019, and the present.

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Real Estate Real Estate Agent Sellers Realty 449

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. The day started with video depositions of four real estate brokerage executives.

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Housing Wire

FEBRUARY 12, 2024

9, 2020, and the present, and paid a buyer broker commission. The complaint argues that NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer’s brokers in order to list a property on a Realtor affiliated MLS, is the “cornerstone of [the] defendants’ conspiracy.” “If

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Real Estate Real Estate Agent Realtors Buyers 437

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. The executives said they received more than 150 questions.

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Agents Advertising Real Estate Buyers 426

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.

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Realty Real Estate Law Brokerage 402

Housing Wire

DECEMBER 20, 2023

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

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Real Estate Sellers Realtors Brokerage 378

Housing Wire

DECEMBER 12, 2023

8, 2019, and the present. The National Association of REALTORS will respond to this complaint in court.” Of the brokerage defendants, eXp and Keller Williams were the only firms to comment on the new suit. The settlement agreement has recently received preliminary approval from the judge overseeing the Sitzer/Burnett suit.

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Realtors Sellers Buyers Real Estate 449

Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. The National Association of REALTORS® is reviewing this new filing and will respond to it in court.”

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Sellers Realtors Buyers Agents 429

Housing Wire

NOVEMBER 10, 2023

It appears that no real estate brokerage firm in the U.S. Noticeably missing from the list is the National Association of Realtors. The anti-competitive nature of commission rule is clear when compared to other countries with competitive markets for residential real estate brokerage services.” 8, 2019, and the present.

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Real Estate Brokerage Sellers Law 469

Housing Wire

NOVEMBER 7, 2023

The settlement agreements outline specific policy changes, including no longer requiring agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook, and informing agents that they don’t have to make or receive offers of cooperative compensation. 31, 2019, to the present.

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Brokerage Law Agents Realtors 401

Housing Wire

NOVEMBER 3, 2023

eXp World Holdings executives did not mention the Sitzer/Burnett verdict in their third quarter earnings presentation on Thursday, but analysts wanted to hear their thoughts on the potential implications. The case targets the defendants across the United States and the plaintiffs would likely be seeking tens of billions of dollars in damages.

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Buyers Realty Real Estate Realtors 388

Housing Wire

APRIL 28, 2022

Residential real estate brokerages will not do as well in 2022 as they did in 2021, but let’s not get carried away. Despite the acute inventory shortage, the National Association of Realtors estimated this week that 5.6 We take it seriously, and we’ve got an experienced legal team.”. Ryan Schneider, CEO of Realogy.

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Mortgage Brokerage Agents Real Estate Agent 363

Housing Wire

JANUARY 11, 2024

29, 2019, to the present. The suit was filed in late December in U.S. District Court in New York by Robert Friedman, a resident of Brooklyn who sold a property in Park Slope in May 2021 with the help of a Douglas Elliman agent. A spokesperson for REBNY wrote in an email that the group was still reviewing the complaint.

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Real Estate Sellers Real Estate Agent Agents 418

Housing Wire

OCTOBER 31, 2023

It found the National Association of Realtors , HomeServices of America and Keller Williams guilty of collusion to maintain high commission rates. It’s yet to be determined what this means for Realtors at this point,” Timothy Ray, the lead attorney for Keller Williams, told HousingWire in the Charles Evans Whittaker U.S.

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Real Estate Landlords Law Design 475

Housing Wire

MARCH 15, 2024

Getting referrals and cozying up to the sell side Mike Kortas, CEO at NEXA Mortgage , sent a clear message to the over 2,300 mortgage LOs at his mortgage brokerage: “Keep your eyes open, keep your ears open, listen for opportunities that are going to present themselves, and be ready to assist more buyers.

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Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.

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Real Estate Brokerage Buyers Property Management 319

Housing Wire

SEPTEMBER 7, 2023

Attorneys, Realtors and clients are a big part of our repeat business.” The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

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Buyers Agents Loan Officers Real Estate 395

Housing Wire

APRIL 30, 2021

Part two dove into legal challenges of the present commission system, and the industry’s defense of commissions at the present level of 5% a home sale. This is the final of a three part series on residential real estate sales commissions. You know what’s annoying? Telling someone the Internet has made their life a lot easier.

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Real Estate Real Estate Agent Agents Legal 441

Housing Wire

NOVEMBER 30, 2023

3] [4] Step 2: Select a sponsoring real estate brokerage The state of Ohio requires anyone who wants to be licensed as a real estate agent to be sponsored by a brokerage before they take the licensing exam. Ready to find a real estate brokerage? Look for a broker who specializes in that niche.

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Real Estate Real Estate Agent Brokerage Agents 409

Housing Wire

JANUARY 9, 2024

However, the suit is seeking both national and Illinois class action status for all persons who purchased a home listed on a NAR MLS with a buyer’s agent and or seller-agent employed or affiliated with @properties or any of its franchises, subsidiaries, or agencies between March 17, 2000, and the present.

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