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.

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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.

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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.

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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.

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Housing Wire

MARCH 25, 2024

Remain calm, trust that you are in the right place and go sell real estate,” Wendi Harrelson, the president of Keller Williams Realty International -owned regions, said during the presentation on Monday. Cooperative compensation is still legal,” Papasan stressed. The executives said they received more than 150 questions.

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Housing Wire

JANUARY 2, 2024

Umpa sold his Ohio home with Redfin and his Maryland home with Compass , and the suit states that he “paid a substantial buyer-broker compensation,” in both transactions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e., 27, 2019, and the present.

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Housing Wire

MAY 1, 2024

In the complaint, the plaintiff alleges that the National Association of Realtors ‘ (NAR) “Participation Rule,“ which requires listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list a property on the MLS, has driven up commission costs. 1, 1996, and the present. “

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Housing Wire

APRIL 15, 2024

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.

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Housing Wire

NOVEMBER 9, 2023

In her first video appearance since the jury verdict in the Sitzer/Burnett commission lawsuit , National Association of Realtors president Tracy Kasper told NAR members that she shares their disappointment in the decision. As she has stated previously, NAR plans to appeal the verdict and that Sitzer/Burnett saga is far from over.

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Housing Wire

JANUARY 16, 2024

A few days ago, the three main defendants— National Association of Realtors , Keller Williams and HomeServices —in the Sitzer/Burnett case filed two motions with the court. 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.

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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. 18, 2020, and the present. 18, 2020, and the present.

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Housing Wire

MARCH 29, 2024

Defendants in the lawsuit include the National Association of Realtors (NAR), the Real Estate Board of New York (REBNY), HomeServices of America , Compass , eXp World Holdings , Douglas Elliman , Halstead Real Estate , Brown Harris Stevens Residential Sales and Realty One Group. according to the complaint.

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Housing Wire

DECEMBER 12, 2023

8, 2019, and the present. 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.”

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Housing Wire

JANUARY 9, 2024

commission ($10,250) to the buyer broker.” Like the other commission lawsuits, the Masiello suit takes aim at the National Association of Realtors’ Participation Rule, which requires listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list a property on a Realtor-affiliated MLS.

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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.

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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

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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.

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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.

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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.

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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.

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Housing Wire

OCTOBER 26, 2023

She said that HomeServices does not meddle in operations, give advice, or advise on commissions or how the brokerage approaches Realtor association membership. Frazier also told the jury that ReeceNichols does not require agents to be members of the National Association of Realtors , but the local MLS does.

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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. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

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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.

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Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

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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.

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Housing Wire

NOVEMBER 30, 2023

Ethan Glass of Cooley, an attorney for the National Association of Realtors (NAR), took a different view and urged Wood to not set a date just yet, stating that it is “way premature” as the court has yet to even take motions for summary judgment, “let alone decide them.”

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Housing Wire

DECEMBER 6, 2023

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. 4, 2019 and the present. Both lawsuits are seeking class-action status.

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Housing Wire

NOVEMBER 1, 2023

The new lawsuit, known as Gibson after its lead plaintiff, accuses the National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman , of conspiring to inflate real estate agent commissions. Who’s named? How big could this case be?

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Housing Wire

MARCH 8, 2024

The lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit. Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. Latter & Blum did not return a request for comment.

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Housing Wire

DECEMBER 8, 2023

Central to the complaint is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs. “As

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Housing Wire

JANUARY 11, 2024

Defendants’ conspiracy has artificially inflated broker commissions to a range of 5-6% of the sale price in nearly all residential real estate transactions in REBNY Brooklyn—half of which automatically goes to the Buyer Broker—an overcharge that is borne entirely by the home seller,” the complaint states. “In 29, 2019, to the present.

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Housing Wire

OCTOBER 6, 2023

After roughly a month of speculation, Anywhere Real Estate and RE/MAX made the terms of their proposed settlement agreements in the Moehrl and Sitzer/Burnett buyer broker compensation class action suits public on Friday. In addition to the already publicized $83.5 In the Sept. Again, significant but not game-changing.”

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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. It’s yet to be determined what this means for Realtors at this point,” Timothy Ray, the lead attorney for Keller Williams, told HousingWire in the Charles Evans Whittaker U.S.

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Housing Wire

NOVEMBER 10, 2023

Noticeably missing from the list is the National Association of Realtors. 8, 2019, and the present. In mid-October, REBNY announced changes to its rules , including a rule preventing listing agents from paying or offering to pay buyers’ agents compensation. Sloane Square , and Sotheby’s International Realty Affiliates.

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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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Housing Wire

NOVEMBER 17, 2023

As expected, the plaintiffs are in opposition to HomeServices’ motion, stating that HomeServices’ claim that the “Plaintiffs have no evidence of conspiracy as to any HSD to create, implement, or enforce the [Buyer-Broker Commission] Rule” is untrue.

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Housing Wire

APRIL 3, 2024

Many in the industry believe the National Association of Realtors ‘ proposed $418 million settlement of the commission lawsuits will help CoStar to reach its goal. In prior notes, KBW had also referred to CoStar as the “top beneficiary” of a change to the buyer agent landscape.

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