Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78

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Brokerage Realtors Sellers Buyers 545

Housing Wire

JANUARY 29, 2024

As for the defendants, real estate brokerages River Point Realty , Bovard-Anderson , Priority Realty , Rubinoff Realty Services and Found It PA were added in the amended complaint. The addition of the five local brokerages is not the only recent change to the list of defendants.

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Brokerage Realty Real Estate Real Estate Agent 406

Housing Wire

JANUARY 16, 2024

Like the other commission lawsuits, the Grace suit takes aim at NAR’s Participation Rule, which requires listing agents to make a blanket offer of compensation to the buyer’s broker in order to list the property on the MLS.

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Brokerage Realtors Realty Real Estate 448

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story.

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Brokerage Agents Real Estate Buyers 466

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. The settlement agreement reflects Douglas Elliman’s commitment to mitigating future uncertainties and limiting legal costs, which will benefit our Company, agents and stockholders,” Howard M. 31, 2023 , Douglas Elliman had $119.8

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Brokerage Agents Legal Realty 440

Housing Wire

JANUARY 26, 2024

“I was sitting on my couch and I saw Michael on CNBC calling us a cartel, saying that we take money that doesn’t belong to us, and I was infuriated at that rhetoric and I was infuriated at what that infers about Realtors,” Lamacchia said. “It It dehumanizes Realtors and turns us into money-making machines.”

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Realtors Law Agents Real Estate 441

Housing Wire

APRIL 23, 2024

The plaintiffs kept moving the finish line and I was sad as president of the National Association of Realtors not to be able to protect everybody, but at the end of the day we realized we need to be able to protect the most people that we can, and in this proposed settlement, that was what we were able to do,” Sears said.

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Realtors Brokerage Agents Real Estate 420

Housing Wire

JANUARY 18, 2024

The complaint names 35 entities as defendants, including the National Association of Realtors , local and national brokerages, MLSs and local Realtor associations. For his part, David Kissinger, the CEO of Glendale Realtors, stated that the suit is “meritless.” 17, 2020, and the present.

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Realtors Brokerage Realty Real Estate 531

Housing Wire

APRIL 10, 2024

R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. million members.

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Real Estate Agent Real Estate Agents Legal 458

Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. Filed on Tuesday in U.S. She was also represented by a Redfin agent in the transactions. 2, 2019, and Oct. 2, 2023.

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Realtors Legal Agents Brokerage 431

Housing Wire

FEBRUARY 21, 2024

HomeServices of America can preserve some of its legal war chest — for now, at least. The residential brokerage was dismissed this week from one of the early real estate commission lawsuits , known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. Judge Andrea Wood of the U.S.

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Brokerage Realtors Real Estate Law 409

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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Brokerage Real Estate Agents Sellers 421

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.

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Real Estate Brokerage Agents Advertising 384

Housing Wire

FEBRUARY 16, 2024

The complaint claims that the National Association of Realtors is the creator of this alleged conspiracy through its creation and enforcement of its Participation Rule. 16, 2020, and the present. 16, 2020, and the present. The first commission lawsuit in Nevada was filed by Nathaniel Whaley in early January 2024.

Real Estate 441

Real Estate Realtors Realty Brokerage 441

Housing Wire

APRIL 24, 2024

Realty ONE Group International has joined six other real estate brokerages in settling the commission lawsuits. Chicago-based At World Properties also announced on Wednesday that it has settled the commission lawsuits , joining Anywhere , RE/MAX , Keller Williams , Compass and The Real Brokerage.

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Realty Real Estate Brokerage Realtors 449

Housing Wire

JANUARY 2, 2024

The complaint argues that the NAR and the brokerage defendants collude “to impose, implement and enforce anticompetitive restraints that cause home sellers to pay inflated commissions on the sale of their homes, in violation of federal antitrust law.” “Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

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Sellers Brokerage Real Estate Realtors 421

Housing Wire

JANUARY 10, 2024

Like the corporate brokerage defendants in the Sitzer/Burnett commission lawsuit , the National Association of Realtors also filed post-trial motions. The motions were filed on Monday prior to the filing deadline, but they did not appear on the court docket until Tuesday evening.

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Legal Law Realtors Brokerage 418

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.

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Realtors Agents Real Estate Logistics 431

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 458

Brokerage Realtors Agents Clients 458

Housing Wire

JANUARY 9, 2024

Like the other commission lawsuits, the Masiello suit takes aim at the National Association of Realtors’ 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 a Realtor-affiliated MLS. 5, 2020, and the present.

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Realty Realtors Real Estate Real Estate Agent 466

Housing Wire

MARCH 8, 2024

JND Legal Administration is in charge of distributing the mailers, emails and press releases. While it is not uncommon for the parties themselves to handle settlement administration work, legal experts told HousingWire that due to the size and scope of these lawsuits it is not surprising that a third-party administrator was brought in.

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Agents Legal Realtors Clients 432

Housing Wire

NOVEMBER 1, 2023

With Bough’s injunction not yet known and the National Association of Realtors , Keller Williams and HomeServices of America all vowing to appeal the jury’s verdict, it’s uncertain exactly when changes will go into effect. “As I think it is just a matter of time until the copycat lawsuits are in every state going after every brokerage.

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Open Houses Brokerage Agents Realtors 479

Housing Wire

SEPTEMBER 29, 2023

On Thursday, the defendants in the suit, which now consist of only the National Association of Realtors , Keller Williams and HomeServices of America after both Anywhere and RE/MAX filed settlement agreements , filed a motion objecting to the purported withdrawal of the named plaintiffs of the eve of the trial.

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Brokerage Realtors Agents Design 410

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., Defendants in the Gibson suit include NAR, Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Bough ruled Tuesday that the Umpa and Gibson commission lawsuits can consolidate.

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Realtors Real Estate Brokerage Law 332

Housing Wire

OCTOBER 16, 2023

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Cost Management : About 10% of brokerages in the survey are looking into reducing overhead costs, possibly by consolidating offices or cutting certain expenses.

Real Estate 420

Real Estate Brokerage Training Agents 420

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 432

Realty Realtors Brokerage Real Estate 432

Housing Wire

FEBRUARY 6, 2024

Like the other commission lawsuits , the Masiello suit takes aim at the National Association of Realtors’ 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 a Realtor-affiliated MLS.

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Realty Realtors Real Estate Brokerage 410

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 369

Brokerage Real Estate Agents Sellers 369

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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Advertising Legal Brokerage Realtors 370

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.

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Buyers Contracts Agents Realtors 453

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

MARCH 7, 2024

In the initial complaint , Whaley only named Realtor associations and MLSs as defendants. These organizations included the National Association of Realtors , Las Vegas Realtors , Nevada Realtors , Sierra Nevada Realty , Incline Village Realtors , Elko County Realtors , Mesquite Real Estate Association and Northern Nevada Regional MLS.

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Realty Real Estate Realtors Brokerage 421

Housing Wire

OCTOBER 2, 2023

Redfin will soon be requiring agents to cancel their National Association of Realtors membership. Most brokerages are only a loose affiliation of independent agents, and none of us wants to impose a policy that could alienate any of the people who generate our revenue.” We love our industry.

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Brokerage Agents Realtors Legal 381

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 410

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.

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Real Estate Realtors Realty Real Estate Agent 473

Housing Wire

APRIL 17, 2024

The plaintiffs who signed the contract, however, sued a non-signatory parent company of the signatory brokerages, which “asserted liability based on the non-signatory’s relationship with its subsidiary.” Since it was not, HomeServices is unable to compel arbitration, the brokerage argued.

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Contracts Brokerage Law Real Estate Agent 421

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. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

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Advertising Legal Law Real Estate 410