Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5 It won class-action status last year and could result in over $1 billion in damages.

Buyers 424

Buyers Brokerage Agents Sellers 424

Housing Wire

SEPTEMBER 27, 2023

Many of these laws target specific types of real estate deemed crucial to national security, such as farmland or property near military installations, while other laws apply more broadly to all types of land. Laws should also be clear on the role title insurance professionals play in facilitating transactions with foreign owners.

Law 395

Law Real Estate Legal Insurance 395

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? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%. One of the researchers, Will Fried, had a hunch.

Clients 424

Clients Agents Buyers Sellers 424

Housing Wire

NOVEMBER 8, 2023

Current legislative proposals would require states to “mandate a real estate-related disclosure form with specific flood-related questions,” which would require 49 states to “make significant amendments to its laws and regulations” leading to an administrative and enforcement burden, NAR said.

Legal 387

Legal Law Insurance Real Estate 387

Housing Wire

JANUARY 16, 2024

The first was a motion for judgement as a matter of law and the second was a motion for a new trial. So, while I make no claim as to the specific deep legal issues, I have some familiarity of antitrust actions and more in the conduct of legal actions in a courtroom. This court ignored all those precedents.

Agents 399

Agents Law Sellers Legal 399

Housing Wire

FEBRUARY 21, 2024

HomeServices of America can preserve some of its legal war chest — for now, at least. District Court for the Northern District of Illinois dismissed a claim made by the plaintiffs under a federal antitrust law. District Court for the Northern District of Illinois dismissed a claim made by the plaintiffs under a federal antitrust law.

Brokerage 392

Brokerage Realtors Real Estate Law 392

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. NAR also sent a letter to the U.S.

Real Estate Agent 440

Real Estate Agent Sellers Buyers Agents 440

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. Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.” “

Sellers 429

Sellers Realtors Real Estate Agent Real Estate 429

Housing Wire

MARCH 29, 2024

In its proposed brief, CMLS writes that in its statement of interest, the DOJ is looking for “an injunction that prohibits offers of buyer broker compensation by MLS PIN participants.” Second, the trade group points out that the practice of sellers and listing brokers paying buyer brokers is lawful throughout MLS PIN’s service area.

Sellers 424

Sellers Real Estate Buyers Contracts 424

Housing Wire

NOVEMBER 9, 2023

The jury reached an outcome that was neither supported by the law nor the facts that were presented in this case,” Kasper said in a video posted Thrusday. According to Kasper, while the plaintiffs are portraying this outcome as a win for consumers, getting rid of cooperative compensation will only harm homebuyers and sellers.

Agents 423

Agents Legal Sellers Clients 423

Housing Wire

NOVEMBER 9, 2023

The heightened consumer protection focus from government agencies, combined with the Department of Justice’s ongoing legal feud with the National Association of Realtors and its recent involvement in the Nosalek commission lawsuit , has many in the industry expecting that the DOJ will get involved in the Sitzer/Burnett suit, and potentially others.

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Legal Real Estate Real Estate Agent Law 406

Housing Wire

APRIL 11, 2024

But legal experts are not as certain. They could certainly intervene in the settlement negotiations, but they are not a party — they are just a party of interest,” said Paul Rogers, a professor of law who specializes in antitrust at Southern Methodist University’s Dedman School of Law. “It

Real Estate 457

Real Estate Law Realtors Legal 457

Housing Wire

NOVEMBER 10, 2023

On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. District Court in the Southern District of New York, alleging that Real Estate Board of New York rules governing the multiple listing service in Manhattan kept commissions high and violated state and federal antitrust laws. is safe from a commission lawsuit.

Real Estate 464

Real Estate Brokerage Sellers Law 464

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 414

Real Estate Brokerage Sellers Law 414

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. “In

Realtors 441

Realtors Sellers Buyers Real Estate 441

Housing Wire

JULY 19, 2023

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. A seller-client permits the property to be foreclosed upon. Confirm that your brokerage documents (e.g.,

Real Estate 355

Real Estate Legal Brokerage Clients 355

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. It was filed on Wednesday in U.S.

Realtors 528

Realtors Brokerage Realty Real Estate 528

Housing Wire

JANUARY 26, 2024

Lamacchia also stressed that it is impossible to claim that the system is rigged because sellers can choose how much compensation they offer the buyers’ broker, or whether they even want to offer cooperative compensation. Home sellers can do as they please, and if they don’t want to hire a Realtor, they don’t have to.

Realtors 432

Realtors Law Agents Real Estate 432

Housing Wire

MARCH 31, 2022

Meek did something big about this last year, shuttling through the Oregon legislature a law that bans “all non-customary documents” from prospective buyer to seller in a real estate deal. The most pressing issue is that Meek’s effort is now in legal limbo after U.S. Oregon State Rep.

Law 384

Law Real Estate Legal Sellers 384

Housing Wire

OCTOBER 23, 2023

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. Roger Alford, a law professor from Notre Dame, was also called to testify on Friday.

Legal 396

Legal Training Real Estate Realtors 396

Housing Wire

OCTOBER 31, 2023

One option is that NAR and the MLSs can no longer require cooperative compensation, but listing agents and their sellers can still offer the buyer broker compensation if they so choose. It is a situation where buyers need to pay their own agents and sellers have to pay their agent separately?”

Real Estate 471

Real Estate Landlords Law Design 471

Housing Wire

NOVEMBER 30, 2023

An attorney for the plaintiffs, Robert Braun of Cohen Milstein Sellers & Toll, asked Wood if she would be willing to set a trial date for the third quarter of 2024. Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case.

Legal 414

Legal Sellers Realtors Law 414

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Its agents also offer buyer broker compensation.

Real Estate 423

Real Estate Sellers Realtors Real Estate Agent 423

Housing Wire

MARCH 15, 2024

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. There is an agreement but what about approval?

Agents 441

Agents Brokerage Advertising Real Estate 441

Housing Wire

FEBRUARY 22, 2024

Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers. Legal and regulatory risk demands compliance with evolving laws and regulations, with VRM Mortgage Service’s legal and compliance departments ensuring current knowledge and implementing controls.

Business 397

Business Marketing Real Estate Legal 397

Housing Wire

MARCH 29, 2024

Wang claims that he found the properties on his own via searches on Zillow and StreetEasy , but when he expressed interest in submitting offers, listing agents refused to engage because he was an unrepresented buyer. Wang is demanding damages and a jury trial.

Advertising 431

Advertising Real Estate Realtors Buyers 431

Housing Wire

DECEMBER 20, 2023

The arguments that the brokerages and NAR did not conspire to artificially raise or stabilize commissions fell flat in the Sitzer/Burnett case , in which a Missouri jury took less than three hours to determine the defendants violated federal anti-trade laws. Treble damages are to be set at $5.36

Real Estate 395

Real Estate Sellers Realtors Brokerage 395

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? population.

Real Estate Agent 457

Real Estate Agent Real Estate Realtors Buyers 457

Housing Wire

OCTOBER 26, 2023

Keller Williams was denied its motion for judgment as a matter of law, which it had filed earlier Wednesday. HomeServices’ motion for judgment as a matter of law was also denied. He testified that, in most cases, homebuyers would be unable to include buyer agent commission costs into their financing. The D.A.N.G.E.R.

Buyers 410

Buyers Sellers Agents Law 410

Housing Wire

JANUARY 19, 2024

Despite not being affiliated with NAR, MetroList adopted a rule similar to NAR’s Participation Rule, requiring listing agents to make a blanket offer of compensation to buyers’ brokers in order to list a property on the MLS. “By The lawsuit is seeking class action status for all persons in the U.S. 18, 2020, and the present.

Realtors 400

Realtors Real Estate Real Estate Agent Buyers 400

Housing Wire

AUGUST 7, 2023

Things are continuing to heat up in Zillow Group’s legal battle with discount brokerage REX Homes , as the September 18, 2023, trial date looms ever closer. Zillow has not demonstrated that it is entitled to judgment as a matter of law with respect to REX’s CPA claim,” Zilly wrote. On Friday, Judge Thomas Zilly, the U.S.

Advertising 351

Advertising Law Brokerage Sellers 351

Housing Wire

OCTOBER 24, 2023

KANSAS CITY, Missouri — National Association of Realtors CEO Bob Goldberg was back on the stand Tuesday morning at the start of the seventh day of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit. This means sellers wind up paying inflated commissions at closing.

Realtors 414

Realtors Agents Clients Buyers 414

Lamacchia Realty

MAY 6, 2024

When you hire a real estate attorney, you’re getting someone who is licensed to practice law with industry specific experience. Their job is to make sure the sale from the seller to the buyer happens within the confines of the law, while also looking out for your best interests.

Real Estate 70

Real Estate Legal Law Contracts 70

Housing Wire

JANUARY 28, 2021

Rentals listed on Zillow will now show whether or not they lie in a jurisdiction with local laws protecting renters from discrimination based on the use of Housing Choice Vouchers. The app also lists any local laws protecting renters who use veteran’s benefits or Social Security insurance payments to pay their rent.

Landlords 457

Landlords Tenants Law Legal 457

Lamacchia Realty

APRIL 4, 2023

Legislation was signed into law last Wednesday , April 29, 2023 by Governor Maura Healey to legalize remote online notarization (RON). The new law, which will become effective on January 1, 2024, makes permanent changes to the law to allow for remote online notarization.

Legal 41

Legal Law Real Estate Sellers 41

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. 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.

Realty 424

Realty Realtors Brokerage Real Estate 424