Housing Wire

OCTOBER 16, 2023

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Here’s what they had to say: Value Proposition : There’s a recurring theme of agents needing to articulate their value proposition, especially when it comes to representing buyers.

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Real Estate Brokerage Training Agents 377

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.

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Real Estate Brokerage Sellers Law 416

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

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Buyers Contracts Agents Realtors 389

Housing Wire

JANUARY 26, 2024

“I was sitting on my couch and I saw Michael on CNBC calling us a cartel, saying that we take money that doesn’t belong to us, and I was infuriated at that rhetoric and I was infuriated at what that infers about Realtors,” Lamacchia said. “It It dehumanizes Realtors and turns us into money-making machines.”

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Realtors Law Agents Real Estate 435

Housing Wire

NOVEMBER 13, 2023

I recently read editorials and articles by such esteemed publications as The Economist , Entrepreneur Magazine , and The Wall Street Journal concerning the antitrust real estate commission lawsuits. by 1% to 2% just by cutting the commission paid to buyer’s agents.” Aggregate data from the housing market would confirm this.

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Real Estate Realtors Agents Buyers 357

Housing Wire

APRIL 10, 2024

R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. As of now, there are no fees to join the American Real Estate Association, and membership is and will remain optional. “For

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Real Estate Agent Real Estate Agents Legal 451

Housing Wire

SEPTEMBER 18, 2023

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace , which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents. Buyers may begin to go directly to listing agents.

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Realtors Brokerage Agents Buyers 428

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. billion in damages, many questions still remain about what this means for the real estate industry, as the defendants still await Judge Stephen Bough’s final judgment.

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Real Estate Landlords Design Law 473

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. It was filed on Wednesday in U.S. District Court in Los Angeles.

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Realtors Brokerage Realty Real Estate 519

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. Join us in this article as we discuss the many different benefits of a Ventura Realtor when buying land in 2023 and why you should consider this as an option before you take the long road all by yourself.

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Realtors Buyers Real Estate Agent Appraisal 272

Housing Wire

MARCH 14, 2024

Like the Department of Justice , the Federal Reserve has decided to weigh in on the real estate agent commission debate. Legal experts told HousingWire that it is rare to see the Fed offer an opinion about an ongoing legal debate, as it typically does not want viewed as an influence on court decisions. housing market.

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Agents Legal Real Estate Agent Buyers 398

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Attorneys, Realtors and clients are a big part of our repeat business.” Anywhere Real Estate just settled two of the cases for a total of $83.5

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Buyers Agents Loan Officers Real Estate 394

Housing Wire

OCTOBER 16, 2023

The long-anticipated Sitzer/Burnett class action commission lawsuit enters its first day in court on Monday, leaving real estate professionals to ponder the fate of today’s cooperation and commission practices. According to Katie Johnson, NAR’s Chief Legal Officer, jury selection started last week and should finish today.

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Buyers Brokerage Agents Realtors 458

Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. 2021 to a buyer represented by a Redfin agent. 2021 to a buyer represented by a Redfin agent. Filed on Tuesday in U.S.

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Realtors Legal Agents Brokerage 401

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.

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Buyers Law Realtors Agents 411

Housing Wire

JANUARY 19, 2024

Real estate professionals in California are facing yet another commission lawsuit. the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions. Lyon & Associates , Guide Real Estate , Paul M. Filed on Thursday in U.S.

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Realtors Real Estate Real Estate Agent Buyers 373

Housing Wire

MARCH 29, 2024

The real estate industry is facing yet another commission lawsuit , but this time the plaintiff is not seeking class-action status. Although REBNY is not affiliated with a Realtor association, it did previously have a rule in place with the same compensation requirement. In a lawsuit filed Thursday in the U.S.

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Advertising Real Estate Realtors Buyers 429

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.”

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Buyers Realty Real Estate Realtors 381

Housing Wire

APRIL 15, 2024

Additionally, 18 of the respondents identified as team leaders, 112 identified as real estate sales associates or broker associates, and 15 identified their position as other, with the most common response being broker-owner of their firm. Most buyers here cannot pay realtor commissions because they are VA (Veterans Affairs borrowers).”

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Inventory Agents Real Estate Sellers 403

Housing Wire

JANUARY 2, 2024

For many real estate professionals, 2023 was the year of the commission lawsuit , and the year could not end without one last copycat suit. 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.

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Sellers Brokerage Real Estate Realtors 409

Housing Wire

NOVEMBER 30, 2023

Wondering how to get a real estate license in Ohio in 2024? Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. How long does it take to get a real estate license in Ohio?

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Real Estate Real Estate Agent Brokerage Agents 403

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. 15, 2020, and the present.

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Realtors Real Estate Agent Real Estate Sellers 438

Housing Wire

NOVEMBER 8, 2023

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. Data from the Legal Research Center concluded that all 50 states and Washington, D.C., America’s 1.5

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Legal Law Insurance Real Estate 359

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.

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Real Estate Agent Real Estate Realtors Buyers 466

Housing Wire

MAY 3, 2024

The business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement ,will go into effect on Aug. 17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson.

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Sellers Legal Buyers Realtors 456

Housing Wire

OCTOBER 9, 2023

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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Real Estate Agent Real Estate Agents Brokerage 404

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.” Masiello sold a home on an Arizona MLS through HomeSmart “in or about October 2021.”

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Realty Realtors Real Estate Real Estate Agent 466

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. 1, 1996 through the present, purchased in the United States residential real estate that was listed on an NAR MLS.”

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Real Estate Realtors Sellers Agents 431

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.” that was listed on a NAR-affiliated MLS between Dec. “

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Sellers Realtors Real Estate Agent Real Estate 420

Housing Wire

FEBRUARY 21, 2024

HomeServices of America can preserve some of its legal war chest — for now, at least. The residential brokerage was dismissed this week from one of the early real estate commission lawsuits , known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. Judge Andrea Wood of the U.S.

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Brokerage Realtors Real Estate Law 370

Housing Wire

NOVEMBER 9, 2023

“We’ve definitely seen a movement in the last few years to be more ‘end-consumer friendly’ if you will — making sure that they are protected, not only in knowing their rights, but that they are protected from all the cost that is associated with the real estate transaction,” Braga said.

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Legal Real Estate Real Estate Agent Law 382

Housing Wire

APRIL 23, 2024

The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. But the settlement does provide a mechanism for brokerages to opt in to the agreement if they so choose, or they can negotiate their own settlement, as Compass and The Real Brokerage have recently done.

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Realtors Brokerage Agents Real Estate 375

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. 9, 2020, and the present, and paid a buyer broker commission.

Real Estate 435

Real Estate Real Estate Agent Realtors Buyers 435

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 435

Real Estate Law Realtors Legal 435

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 447

Realtors Sellers Buyers Real Estate 447

Housing Wire

APRIL 26, 2024

The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages collectively pay hundreds of millions of dollars in damages and make large-scale changes to longstanding commission policies.

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Brokerage Agents Real Estate Buyers 458