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? billion in Missouri alone.

Clients 431

Clients Agents Buyers Sellers 431

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 436

Real Estate Agent Sellers Buyers Agents 436

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

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 376

Legal Real Estate Real Estate Agent Law 376

Housing Wire

JANUARY 22, 2024

District Court in New York against the Real Estate Board of New York and several brokerages, according to court filings. Friedman’s suit was in regard to the 2021 sale of his Park Slope home, in which he paid a buyer broker commission. The filings did not provide any insight into why the suit was dismissed.

Real Estate Agent 411

Real Estate Agent Real Estate Agents Sellers 411

Housing Wire

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions. The National Association of Realtors will respond to this complaint in court.”

Sellers 406

Sellers Brokerage Real Estate Realtors 406

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 392

Real Estate Agent Real Estate Agents Realtors 392

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 mid-October, REBNY announced changes to its rules , including a rule preventing listing agents from paying or offering to pay buyers’ agents compensation.

Real Estate Agent 381

Real Estate Agent Real Estate Agents Brokerage 381

Housing Wire

JANUARY 11, 2024

There was industry-wide shock when the Missouri jury found NAR, Keller Williams and HomeServices of America liable for colluding to artificially inflate real estate agent commissions.

Real Estate Agent 439

Real Estate Agent Real Estate Buyers Agents 439

Housing Wire

MAY 1, 2024

district court in Florida, accusing HomeServices and its subsidiaries, BHH Affiliates and HSF Affiliates , of conspiring to artificially inflate real estate agent commissions. Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.” “

Sellers 336

Sellers Realtors Real Estate Agent Real Estate 336

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 418

Real Estate Realtors Realty Brokerage 418

Housing Wire

OCTOBER 27, 2023

One of the most important roles we play at ALTA is strongly encouraging buyers to shop around for their title insurance company. The Real Estate Settlement Procedures Act (RESPA) ensures that homebuyers always have the legal right to consider alternative title insurance providers and can never be forced into using a particular provider.

Insurance 500

Insurance Real Estate Buyers Real Estate Agent 500

Housing Wire

MAY 3, 2023

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. I wanted to close before May 1, so I selected a buyer who was already in underwriting. The legal threat that looms largest is what’s known as the “Moehrl case.”

Agents 406

Agents Real Estate Agent Brokerage Real Estate 406

Housing Wire

NOVEMBER 27, 2023

On Wednesday, home seller plaintiffs in northern Georgia filed a class-action antitrust lawsuit accusing real estate industry players of colluding to artificially inflate real estate agent commissions. This system, with its veiled surcharges, illegally warps the real estate market.”

Real Estate 448

Real Estate Real Estate Agent Sellers Realty 448

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 Brokerage 52

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 432

Real Estate Real Estate Agent Realtors Buyers 432

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

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

Brokerage 430

Brokerage Realty Real Estate Agent Real Estate 430

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 431

Real Estate Realtors Sellers Agents 431

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 371

Real Estate Brokerage Training Agents 371

Housing Wire

JANUARY 16, 2024

The latest copycat commission lawsuit alleges that real estate industry players in Nevada have colluded to artificially inflate real estate agent commissions. District Court in Las Vegas by Nathaniel Whaley, who sold a home in Las Vegas in April 2022 and paid a buyer broker commission.

Realtors 435

Realtors Real Estate Agent Real Estate Sellers 435

Housing Wire

JANUARY 16, 2024

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. They also testified to the importance and value of the MLS as a core service that agents provide to sellers and buyers. That is how they got to $1.8

Agents 370

Agents Law Sellers Legal 370

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. Similarly, commission disputes can arise when a buyer-client ultimately purchases a property shortly after the relationship with their real estate agent ends.

Real Estate 318

Real Estate Legal Brokerage Clients 318

Housing Wire

MARCH 18, 2024

Jessica Edgerton , chief legal officer at LeadingRE , was also caught off guard by the timing of everything. “I It is probably going to be similar to commercial real estate where they are going to have to include compensation as part of the transaction negotiations,” he said. “If More off-MLS listings?

Brokerage 413

Brokerage Real Estate Agents Sellers 413

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. A copycat commission lawsuit has been filed in Los Angeles. It was filed on Wednesday in U.S. 17, 2020, and the present.

Realtors 516

Realtors Brokerage Realty Real Estate 516

Housing Wire

APRIL 11, 2024

Many real estate executives and analysts believe that the Department of Justice , now with the green light to reopen its investigation into the National Association of Realtors , will shake up the civil commission lawsuit settlement agreement. But legal experts are not as certain.

Real Estate 429

Real Estate Law Realtors Legal 429

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

APRIL 23, 2024

Additionally, all fields displaying broker compensation on MLSs must be eliminated, and there is a blanket ban on the requirement that agents subscribe to MLSs in order to offer or accept compensation for their work. Sears announced that the plaintiffs have asked for a final approval hearing for the settlement on Nov.

Realtors 369

Realtors Brokerage Agents Real Estate 369

Housing Wire

MAY 1, 2024

According to Barton, the “substance of the settlement” is a “very reasonable middle path forward for the industry, where commissions are communicated between sellers and buyers and both parties are better educated.” million real estate license holders, many handle only one or two transactions a year. Of the approximately 1.5

Agents 372

Agents Real Estate Contracts Real Estate Agent 372

Housing Wire

MARCH 25, 2024

Cooperative compensation is still legal,” Papasan stressed. From there, the executives went on to address questions of where and how agents could advertise offers of cooperative compensation. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Agents 415

Agents Advertising Real Estate Buyers 415

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

Real Estate 409

Real Estate Sellers Real Estate Agent Agents 409

Housing Wire

MARCH 5, 2024

While the suit pertains to homebuyers and not sellers, the issue of real estate agent compensation is central to the suit. In the complaint, the plaintiffs argue that they as homebuyers paid too much to purchase their homes; they allege they were unable to negotiate the compensation paid to their agent.

Real Estate 392

Real Estate Real Estate Agent Sellers Realtors 392

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

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. Reffkin cited the Seattle market as reason for optimism.

Agents 367

Agents Real Estate Agent Realtors Brokerage 367

Housing Wire

MARCH 8, 2024

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. JND Legal Administration is in charge of distributing the mailers, emails and press releases. Millions are expected to be sent out across America. “If she asked. “It

Agents 411

Agents Legal Realtors Clients 411

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 431

Sellers Buyers Real Estate Contracts 431

Housing Wire

JANUARY 9, 2024

District Court in Arizona, Joseph Masiello, an Arizona resident and home seller, accuses several real estate companies of colluding to artificially inflate real estate agent commissions. commission ($10,250) to the buyer broker.” 5, 2020, and the present.

Realty 466

Realty Realtors Real Estate Real Estate Agent 466