Housing Wire

SEPTEMBER 20, 2023

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. The past few weeks have been eventful for the Sitzer/Burnett lawsuit, as well as the larger Moehrl lawsuit in Illinois, which also deals with buyer-broker commissions. Bough, a U.S.

Buyers 431

Buyers Law Realtors Agents 431

Housing Wire

SEPTEMBER 7, 2023

Attorneys, Realtors and clients are a big part of our repeat business.” But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents.

Agents 397

Agents Buyers Loan Officers Real Estate 397

Housing Wire

OCTOBER 4, 2023

District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. Unlike the two other buyer-broker commission lawsuits, Moehrl and Sitzer/Burnett , NAR is not a defendant in the Nosalek lawsuit.

Buyers 421

Buyers Realtors Sellers Legal 421

Housing Wire

SEPTEMBER 5, 2023

According to court documents filed on Tuesday, Anywhere Real Estate and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits.

Real Estate 421

Real Estate Buyers Legal Realtors 421

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.

Buyers 458

Buyers Brokerage Agents Realtors 458

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? So how is the uniformity and permanence of buyer agents’ 2-3% rate possible in a free market? One of the researchers, Will Fried, had a hunch.

Clients 432

Clients Agents Buyers Sellers 432

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

Sellers 431

Sellers Buyers Agents Real Estate Agent 431

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. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. 17, 2020, and the present.

Realtors 531

Realtors Brokerage Realty Real Estate 531

Housing Wire

NOVEMBER 3, 2023

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.”

Buyers 409

Buyers Realty Real Estate Realtors 409

Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. ” It continues: “Buyer-broker commission rules are the subject of several pending antitrust suits and a pending appeal in which the United States is an appellant.”

Buyers 410

Buyers Realtors Real Estate Sellers 410

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

Housing Market 458

Housing Market Marketing Training New Listings 458

Housing Wire

NOVEMBER 30, 2023

After a very difficult market for buyers who have had to contend with an atypical housing market in 2023, home shoppers will find more listings to choose from in 2024,” Lisa Sturtevant, Bright MLS chief economist, said in a statement. “At However, market activity is still projected to remain well below typical levels.

Buyers 473

Buyers Housing Market Sellers Inventory 473

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. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present. 16, 2020, and the present.

Real Estate 441

Real Estate Realtors Realty Brokerage 441

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. Sellers or buyers can pay the buyer’s agent’s fees. NAR also sent a letter to the U.S.

Real Estate Agent 450

Real Estate Agent Sellers Buyers Agents 450

Housing Wire

AUGUST 10, 2023

A little over a month after filing an agreement in one of the ongoing buyer broker commission lawsuits, New England’s largest multiple listing service (MLS), MLS Property Information Network (MLS PIN)’s attempt to settle the Nosalek case, has hit a snag. The changes are contingent on the settlement’s approval. “I

Buyers 368

Buyers Realtors Legal Finance 368

Housing Wire

JANUARY 16, 2024

District Court in Las Vegas by Nathaniel Whaley, who sold a home in Las Vegas in April 2022 and paid a buyer broker commission. Unlike other commission lawsuit, the Whaley suit only names Realtor associations as defendants. . 15, 2020, and the present.

Realtors 450

Realtors Real Estate Agent Real Estate Sellers 450

Housing Wire

JANUARY 19, 2024

Unlike other MLSs, MetroList is not exclusively owned or operated by Realtor associations affiliated with the National Association of Realtors. Instead MetroList is owned and operated by local Realtor associations and California Real Estate Brokers, Inc. The lawsuit is seeking class action status for all persons in the U.S.

Realtors 428

Realtors Real Estate Real Estate Agent Buyers 428

Housing Wire

DECEMBER 12, 2023

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. The National Association of REALTORS will respond to this complaint in court.”

Realtors 450

Realtors Sellers Buyers Real Estate 450

Housing Wire

SEPTEMBER 30, 2022

Effective natural language processing technologies extract deeper meaning from unstructured data to make a difference in the lives of countless would-be homebuyers who are credit invisible or have not had the ability to obtain access to affordable housing finance. Presented by: FormFree. Not yet anyway.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits. “It

Agents 458

Agents Sellers Buyers Finance 458

Housing Wire

MARCH 25, 2024

On the heels of the $418 million settlement recently announced by the National Association of Realtors (NAR), mortgage trade group Community Home Lenders of America (CHLA) has called on the U.S. Under the current system, the buyer agent’s commission is baked into the price paid for a home.

Agents 441

Agents Real Estate Agent Real Estate Buyers 441

Housing Wire

NOVEMBER 14, 2023

At the center of the plaintiffs’ complaint is the National Association of Realtors’ Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyers’ brokers in order to list the property on the MLS. “In This would lead to competition among buyer brokers to offer lower commission rates.

Real Estate 410

Real Estate Realtors Realty Buyers 410

Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. At the center of the lawsuit is 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 association affiliated MLS. Filed on Tuesday in U.S.

Realtors 431

Realtors Legal Agents Brokerage 431

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

Real Estate 441

Real Estate Real Estate Agent Realtors Buyers 441

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. 8, 2019, and the present. 8, 2019, and the present.

Brokerage 448

Brokerage Realtors Realty Real Estate 448

Housing Wire

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The share of first-time buyers rose to 32%, up from last year’s low of 26%. Typical repeat buyers were 58, down from 59 in 2022.

Real Estate Agent 410

Real Estate Agent Real Estate Agents Sellers 410

Housing Wire

APRIL 14, 2023

The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market.

Realtors 432

Realtors Buyers Inventory Sellers 432

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.

Real Estate 473

Real Estate Realtors Realty Real Estate Agent 473

Housing Wire

OCTOBER 27, 2023

the National Association of Realtors (NAR), et al kicked off this week in a Kansas City, Missouri, federal courtroom, there is a lot at stake for consumers and business competition. Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. population.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

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 effect of these rules is not simply that the seller must pay the buyer broker’s compensation,” the complaint states.

Sellers 432

Sellers Realtors Buyers Agents 432

Housing Wire

JANUARY 31, 2024

After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” The internet can be a tool, but it is not a replacement for the essential services agents who are Realtors provide.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Agents 466

Housing Wire

MARCH 25, 2024

Under the terms of the settlement agreements reached by both Keller Williams and the National Association of Realtors (NAR), cooperative compensation is still allowed. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said. Cooperative compensation is still legal,” Papasan stressed.

Agents 441

Agents Advertising Real Estate Buyers 441

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.

Real Estate 450

Real Estate Real Estate Agent Sellers Realty 450

Housing Wire

APRIL 19, 2024

from February to March, according to a report released Friday by the Pennsylvania Association of Realtors (PAR). This spring represents a window of opportunity for buyers and sellers who want to enter the market.” Data released Thursday by the National Association of Realtors (NAR) revealed a 4.3% decline in U.S.

Realtors 409

Realtors Inventory Real Estate Sellers 409

Appraisal Buzz

APRIL 30, 2024

With the downturn in home sales, the challenges are multifaceted: Homeowners are holding onto low-interest rate mortgages instead of moving up, investors edging out traditional buyers with cash offers and first-time homebuyers facing steep affordability hurdles and bidding wars. That presents a unique challenge as well as an opportunity.

Marketing 195

Marketing Real Estate Agent Renovations Buyers 195

Housing Wire

NOVEMBER 8, 2023

Known as Batton 2, after the lead plaintiff Mya Batton, the lawsuit accuses Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman of conspiring to artificially inflate agent commissions, resulting in elevated home-buying costs.

Real Estate 432

Real Estate Realtors Sellers Agents 432

Housing Wire

JANUARY 8, 2024

To the buyer of an $800,000 home putting down 20%, the mortgage savings would be roughly $500. If buyers try to time their home purchase to the return of record-low rates and the historically low rates don’t return, their wait could prove costly. The 10-year Treasury closed 2023 below 4% (3.87%) from more than 5% just a month earlier.

Lending 428

Lending Development Investors Finance 428