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Consumer advocacy group: Buyer agency agreements often contain “unfair” terms

Housing Wire

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 344
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CFPB, senators pledge to look at house-flipping business practices

Housing Wire

I actually met with some Minnesota community leaders about contract-for-deed targeting certain immigrant groups across the country,” Chopra said. We have thousands of encouraging stories of franchises going beyond expectations to help sellers and their communities.” A duo of bipartisan U.S.

Business 318
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CMLS looks to weigh in on the DOJ’s statement of interest

Housing Wire

The first change is that MLS PIN is agreeing to obtain certificates from their seller clients saying that they understand that MLS PIN does not require sellers to offer compensation to buyer brokers and that sellers are not required to compensate the buyer’s broker even when asked to by the buyer.

Sellers 406
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Q2 AgentPulse survey: Low inventory is greatest challenge

Housing Wire

When asked about the language they use to discuss how buyer and seller agent commissions are paid, some of the most common responses included stressing that commissions are and always have been negotiable, and that if the National Association of Realtors’ settlement is approved, some practices may change, but many things are currently unknown.

Inventory 364
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Washington state could provide guidance for others on buyer broker agreements

Housing Wire

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.

Buyers 460
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NAR petitions for rehearing in appeals court decision of DOJ probe

Housing Wire

The divided panel’s decision in this significant government-contract interpretation case goes ‘where no court has gone before,’ directly conflicts with precedents of this Court and the Supreme Court, and will reshape the landscape for all ‘who find themselves on the other side of the bargaining table’ with the government,” the petition states.

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Redfin named in yet another commission lawsuit

Housing Wire

She is also filing the suit as both a home seller and a homebuyer. seller commission when it was after signature of the Seller Agent contract moot because 6% of commission sharpen still occurred.” There is a complete disconnect between our business model and claims that we conspired to maintain inflated commission rates.”

Realtors 325