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.

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Real Estate Brokerage Sellers Law 421

Housing Wire

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

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Brokerage Realty Real Estate Agent Real Estate 432

Housing Wire

MARCH 20, 2024

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. Then HOUS [ Anywhere Real Estate ] has a lot of run-of-the-mill agents, with some strong ones at Corcoran and Coldwell Banker.

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Brokerage Agents Realtors Real Estate 450

Housing Wire

APRIL 1, 2024

The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers.

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Sellers Real Estate Agents Buyers 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.

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Real Estate Realtors Realty Buyers 410

Housing Wire

MAY 9, 2024

After months of uncertainty, the real estate industry has a reason to celebrate, at least a little bit. Wood, who is overseeing the Batton suit as well as the Moehrl home seller commission lawsuit , said this request was “neither necessary nor appropriate.” million , $55 million and $70 million , respectively. 26, 2024. “We

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Brokerage Realty Sellers Real Estate 384

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.

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Realtors Brokerage Realty Real Estate 531

Housing Wire

MARCH 27, 2024

These are all untrue and offensive words that come up when searching “Realtors” or “Real estate agents.” And before getting my real estate license in 2009, I had the same opinion, too. Next, the discussion of real estate agent commissions has been longstanding.

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Real Estate Agent Real Estate Agents Sellers 332

Housing Wire

SEPTEMBER 19, 2023

BeachesMLS ’ and MIAMI REALTORS SEFMLS , South Florida ’s two largest Multiple Listing Services (MLSs), have begun providing complete listing data to Nestfully , a public search portal sourced directly from the MLS, the company announced last Wednesday. Together, BeachesMLS and MIAMI SEFMLS serve more than 103,000 real estate professionals.

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Realtors Brokerage Real Estate Agents 410

Housing Wire

OCTOBER 3, 2023

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Only 1% of respondents say they are restructuring their compensation model.

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Real Estate Brokerage Agents Training 431

Housing Wire

SEPTEMBER 18, 2023

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace , which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents.

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Realtors Brokerage Agents Buyers 432

Housing Wire

JANUARY 29, 2024

In an amended complaint filed on Friday, home sellers Danielle and Jessie Kay (who sold a house in Baden, Pennsylvania, in December 2021 with the help of an agent from Realty One Group Gold Standard ) were added as a plaintiff. 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 408

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business.

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Advertising Brokerage Real Estate Legal 421

Housing Wire

OCTOBER 19, 2023

In what could be an attempt to get ahead of changes that may be coming to the real estate industry, the Real Estate Board of New York announced some major policy changes this week, as first reported on by The Real Deal. Starting Jan.

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Sellers Agents Brokerage Real Estate 432

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. billion in damages, many questions still remain about what this means for the real estate industry, as the defendants still await Judge Stephen Bough’s final judgment.

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Real Estate Landlords Design Law 479

Housing Wire

JANUARY 16, 2024

In an amended complaint filed on Friday, the plaintiffs’ counsel named Vanguard Properties , Twin Oaks Real Estate , Windermere Real Estate Services Company , Rapisdara & Fox and Realty One Group , as additional defendants in the antitrust suit. 8, 2019, and the present.

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Brokerage Realtors Realty Real Estate 450

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

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. brokerage that has saved consumers more than $1.5 The National Association of Realtors has also reached a nationwide settlement of the commission lawsuits. As the only U.S.

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Brokerage Realty Real Estate Agents 473

Housing Wire

JANUARY 23, 2024

Mauricio Umansky, founder of The Agency and star of Buying Beverly Hills, and Compass agent and NAR Accountability Project founder Jason Haber are making good on a promise to explore a real estate professional trade organization alternative to the National Association of Realtors.

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Real Estate Agents Realtors Brokerage 441

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.

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Brokerage Real Estate Agents Sellers 402

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., 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.

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Realtors Real Estate Brokerage Law 420

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 More off-MLS listings?

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Brokerage Real Estate Agents Sellers 421

Housing Wire

FEBRUARY 21, 2024

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. Wood wrote on Tuesday that home sellers were “better suited to seek injunctive relief.” Judge Andrea Wood of the U.S.

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Brokerage Realtors Real Estate Law 409

Housing Wire

JANUARY 9, 2024

District Court in Arizona, Joseph Masiello, an Arizona resident and home seller, accuses several real estate companies of colluding to artificially inflate real estate agent commissions. According to the filing, Masiello was “required to pay a 2% commission ($8,200) to the seller broker and a 2.5%

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Realty Realtors Real Estate Real Estate Agent 466

Housing Wire

FEBRUARY 8, 2024

As a real estate agent, you may think clients should care more about their next home than your life story. And while that may be true, well-crafted real estate agent bios can build trust and credibility and serve as a powerful tool in an agent’s marketing arsenal — giving prospective clients.

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Real Estate Agent Real Estate Agents Clients 410

Housing Wire

MARCH 7, 2024

District Court of Nevada in early January 2024, the Whaley suit (like other commission lawsuits) accuses real estate industry players of colluding to artificially inflate agent commissions. In the initial complaint , Whaley only named Realtor associations and MLSs as defendants. Opendoor did not return a request for comment.

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Realty Real Estate Realtors Brokerage 421

Housing Wire

FEBRUARY 6, 2024

In a document filed on Monday, the counsel for the home seller plaintiff Joseph Masiello notified the federal court in Arizona that it was voluntarily dismissing defendant Walt Danley Local Luxury , an affiliate of Christie’s International Real Estate , from the suit. The lawsuit was originally filed in early January.

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Realty Realtors Real Estate Brokerage 410

Housing Wire

NOVEMBER 30, 2023

If you’re looking for the best real estate schools in Illinois to complete the required 75 hours of class time you’ll need to get a broker’s license, we’re here to help. In Illinois, real estate agents are called brokers. When you buy through our links, we may earn a commission. out of 5.

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Real Estate Realtors Real Estate Agent Law 421

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. Both lawsuits are seeking class-action status.

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Realty Realtors Brokerage Real Estate 432

Housing Wire

OCTOBER 31, 2023

Phillip Cantrell is the CEO of Benchmark Realty LLC based in Franklin, Tennessee and the executive vice president of Strategy for United Real Estate. The rule change will prohibit listing brokers from paying buyer’s agents and will instead require sellers to pay them directly if they choose to pay them at all. Point taken.

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Real Estate Realtors Agents Buyers 421

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

DECEMBER 7, 2023

Many Massachusetts real estate schools offer online courses. After completing an approved course of study, you’ll be able to sit the state real estate exam. Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission.

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Real Estate Real Estate Agent Law Brokerage 409

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. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S.

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Sellers Realtors Real Estate Agent Real Estate 441

Housing Wire

SEPTEMBER 5, 2023

Real estate giant Anywhere has reached a settlement agreement in two of the major class action antitrust lawsuits facing the housing industry. Anywhere is just one of the many defendants in these lawsuits, which also include Keller Williams , RE/MAX , HomeServices of America and the National Association of Realtors.

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Real Estate Buyers Legal Realtors 421

Housing Wire

JANUARY 29, 2024

That’s where real estate testimonials come into play. According to the National Association of Realtors® (NAR), 89% of buyers would recommend their real estate agent to others. Further, their study found that 36% of sellers who worked with an agent found them through a referral by friends or family.

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Real Estate Clients Real Estate Agent Agents 410

Housing Wire

JANUARY 19, 2024

Real estate professionals in California are facing yet another commission lawsuit. the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions. Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L.

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Realtors Real Estate Real Estate Agent Buyers 430

Housing Wire

OCTOBER 9, 2023

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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Real Estate Agent Real Estate Agents Brokerage 421