Housing Wire

OCTOBER 27, 2023

Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. Listing brokers make offers of compensation to buyer brokers who bring a buyer to the table. And if those same consumers had to go it alone without buyer representation?

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

Housing Wire

JULY 19, 2023

Over the past year or so, we have seen an uptick in questions relating to commission disputes between brokers and their clients. 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.

Real Estate 370

Real Estate Legal Brokerage Clients 370

Housing Wire

NOVEMBER 9, 2023

So, the fact that we are now seeing things further in the process come down to agents and brokers — I was not entirely surprised by that.” In addition to the DOJ, real estate agent commissions may have caught the eye of yet another government agency. Solicitor General Paul Clement to its legal team. “I

Legal 431

Legal Real Estate Real Estate Agent Law 431

Housing Wire

NOVEMBER 9, 2023

It now allows listing brokers to offer buyer brokers $0 in compensation when listing a home in any of the 500 Realtor-affiliated MLS s across the U.S. Point blank: NAR’s latest focus on commission standards essentially overlooks the fundamental need for enhancing the quality of real estate professionals.

Real Estate Agent 410

Real Estate Agent Real Estate Agents Realtors 410

Housing Wire

DECEMBER 1, 2023

In an email blast sent to REBNY members, the New York City real estate agent trade group said it would “vigorously defend the litigation.” In its email, REBNY said that complaint is “laden with numerous inaccuracies regarding the RLS, the Universal Co-Brokerage Agreement, and the business of real estate.”

Real Estate Agent 410

Real Estate Agent Real Estate Agents Brokerage 410

Housing Wire

MAY 8, 2024

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. Third, Compass agents have doubled down on training to help them better communicate their value proposition. Compass has the best value proposition for buyers of any brokerage firm,” Reffkin said.

Agents 440

Agents Brokerage Real Estate Clients 440

Housing Wire

FEBRUARY 16, 2024

A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present.

Real Estate 441

Real Estate Realtors Realty Brokerage 441

Housing Wire

MARCH 8, 2024

It was mid-February when clients, family and friends began asking Jason Posnick about strange postcards appearing in their mailboxes. If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. Lisa is super on the pulse.

Agents 432

Agents Legal Realtors Clients 432

Housing Wire

APRIL 8, 2024

In addition to the monetary award, Real has also agreed to implement business policy changes as part of the settlement, including “clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.”

Brokerage 384

Brokerage Real Estate Agent Real Estate Clients 384

Housing Wire

OCTOBER 16, 2023

Regardless of the outcome, real estate brokers are doing all they can to prepare their brokerages and their agents for more transparency, education on the value real estate agents bring to the transaction, and more, according to the 2023 Q4 BrokerPulse survey , a forward-looking housing market sentiment survey by HousingWire.

Real Estate 421

Real Estate Brokerage Training Agents 421

Housing Wire

NOVEMBER 8, 2023

Another day and another class-action antitrust commission lawsuit accusing the real estate industry of colluding to inflate real estate agent commissions has been filed. But this latest one comes with a twist — it was filed by homebuyers, unlike the others filed by home sellers.

Real Estate 432

Real Estate Realtors Sellers Agents 432

Housing Wire

FEBRUARY 12, 2024

District Court in Utah, accusing real estate industry players of colluding to artificially inflate real estate agent commissions. 9, 2020, and the present, and paid a buyer broker commission. Buyer brokers would thus have to compete with one another by offering a lower commission rate.

Real Estate 441

Real Estate Real Estate Agent Realtors Buyers 441

Housing Wire

MARCH 25, 2024

Cooperative compensation The vast majority of questions addressed on the call dealt with whether or not buyer’s representation was going away, and how agents will get paid for the services they provide to clients. Cooperative compensation is still legal,” Papasan stressed.

Agents 441

Agents Advertising Real Estate Buyers 441

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Sellers 421

Sellers Buyers Real Estate Agents 421

Housing Wire

MARCH 18, 2024

Jessica Edgerton , chief legal officer at LeadingRE , was also caught off guard by the timing of everything. “I He didn’t want himself and his agents in a place where the day came, and they didn’t know how to prove their value proposition or negotiate their worth with a client. More off-MLS listings?

Brokerage 421

Brokerage Real Estate Agents Sellers 421

Housing Wire

NOVEMBER 9, 2023

The verdict runs contrary to what we all know about the value we bring not only to our clients but to the functioning of a buyer-seller real estate market more generally,” Kasper said. As she has stated previously, NAR plans to appeal the verdict and that Sitzer/Burnett saga is far from over.

Agents 432

Agents Legal Sellers Clients 432

Housing Wire

NOVEMBER 7, 2023

Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said. Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said. Revenue decreased by 10% year over year to $1.34

Agents 410

Agents Real Estate Agent Realtors Brokerage 410

Hank Miller Team

NOVEMBER 16, 2022

Here’s a fun fact, real estate agents in GA have no fiduciary responsibility to their client or customer. Being a fiduciary thus requires being bound both legally and ethically to act in the other's best interests. Are Real Estate Agents in GA Fiduciaries? Some may ask, “what does that mean”?

Real Estate Agent 52

Real Estate Agent Real Estate Agents Clients 52

Housing Wire

DECEMBER 12, 2023

District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions. Sellers can sell their home for more and have their home seen by more buyers while buyers have more choices of homes and can afford representation.

Realtors 450

Realtors Sellers Buyers Real Estate 450

Housing Wire

FEBRUARY 16, 2024

Currently, in order to list a property, the listing broker must make an offer of at least one cent, but under the settlement, MLS PIN would drop that to zero dollars. “The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states.

Sellers 432

Sellers Buyers Real Estate Contracts 432

Housing Wire

NOVEMBER 14, 2023

The lawsuit accuses its 29 defendants of colluding to artificially inflate real estate agent commissions. In the absence of NAR’s Mandatory Offer of Compensation Rule, the expense of buyer broker commissions would be incurred by the clients (homebuyers),” the filing states. “In 13, 2019, to the present.

Real Estate 410

Real Estate Realtors Realty Buyers 410

Housing Wire

MAY 1, 2024

Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky. It is not about our own needs.

Realtors 420

Realtors Real Estate Agent Real Estate Brokerage 420

Housing Wire

JULY 26, 2021

Solicitors are legally required when purchasing a home in Ireland.). They also had to pay for the brokerage sign outside their home, newspaper advertising, online ads and the brochures for potential buyers. Home buyers like my mother and father outside the U.S. And they paid a 1% fee to their solicitor for their purchase.

Real Estate Agent 384

Real Estate Agent Real Estate Sellers Legal 384

Housing Wire

DECEMBER 20, 2023

Like the other commission lawsuits, the plaintiffs in the Moehrl suit allege that the real estate industry has colluded to artificially inflate real estate agent commissions.

Real Estate 420

Real Estate Sellers Realtors Brokerage 420

Housing Wire

OCTOBER 23, 2023

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. 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.

Law 432

Law Agents Realtors Contracts 432

McKissock

JULY 6, 2022

Real estate transactions are similar to putting together a jigsaw puzzle. One of the main responsibilities of a real estate agent is to effectively organize all the competing interests of a transaction (or pieces of the jigsaw puzzle). Setting and Managing Client Expectations for Your Real Estate Transactions.

Clients 87

Clients Real Estate Contracts Sellers 87

CA Realty Training

JULY 19, 2021

You have to build strong relationships with your clients to have a long, lucrative career in real estate. . The top producing agents earned their fame and fortune because of the people they know. When your clients like working with you, they will recommend your services to other people they know. Confidentiality.

Real Estate Agent 53

Real Estate Agent Real Estate Agents Clients 53

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 421

Real Estate Brokerage Sellers Law 421

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? What is Dual Agency in Real Estate?

Real Estate 148

Real Estate Real Estate Agent Sellers Agents 148

Cleveland Appraisal Blog

APRIL 26, 2023

If you decide to use a realtor it can make the experience much smoother, much easier and ultimately far better for you as a buyer. Not only can a realtor help you find the right piece of land and negotiate the price, but they can even help you navigate the legal paperwork. However, you don’t have to.

Realtors 272

Realtors Buyers Real Estate Agent Appraisal 272

Housing Wire

AUGUST 4, 2023

Achieving success as a real estate agent requires more than simply understanding the mechanics of the job. Here are 10 essential skills every real estate agent should possess. Here are 10 essential skills every real estate agent should possess. And why is this so important?

Real Estate Agent 370

Real Estate Agent Real Estate Agents Clients 370

PennyMac

JULY 20, 2021

Whether you are buying or selling a home, your real estate agent will be your partner through one of the most significant transactions of your life. Finding the right agent should involve careful planning and research, but many of us just don’t know where to start. How long have you been working as a real estate agent?

Real Estate Agent 69

Real Estate Agent Real Estate Agents Sellers 69

Housing Wire

MARCH 21, 2024

Fewer agents means fewer members Although associations and MLSs are feeling confident about their ability to navigate the terms of NAR’s settlement agreement and the many unknowns that remain, some agents in the field don’t feel the same way. The brokers, agents and appraisers we serve are looking to us for guidance.

Realtors 431

Realtors Agents Real Estate Logistics 431

Housing Wire

NOVEMBER 30, 2023

Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. From completing your required coursework to taking the licensing exam, keep reading to learn how to become a real estate agent in Ohio. Ready to find a real estate brokerage?

Real Estate 431

Real Estate Real Estate Agent Brokerage Agents 431

Housing Wire

FEBRUARY 1, 2024

In late October 2023, an eight-person jury in Missouri found Keller Williams, along with defendants, NAR and HomeServices of America, liable for colluding to artificially inflate real estate agent commissions. The jury awarded full damaged of $1.7 billion, which under federal antitrust rules is trebled to over $5 billion.

Agents 473

Agents Realtors Real Estate Agent Real Estate 473

Housing Wire

DECEMBER 29, 2021

Each year RealTrends releases its list of the highest performing real estate agents in the country, and, like clockwork, Ben Caballero of Dallas-based HomesUSA tops the list. And are these numbers for real? Caballero is like any real estate listing agent, on the hunt for clients. Ben Caballero.

Realtors 397

Realtors Real Estate Agent Agents Real Estate 397

McKissock

SEPTEMBER 20, 2021

Real estate risk management is an important concern for agents. Real estate agents are commonly sued for breaching their duty to act in the best interests of their client. Here’s an overview of Articles 1–13: Article 1 requires Realtors® “to protect and promote the interests of their client.”

Real Estate 58

Real Estate Clients Real Estate Agent Realtors 58