Remove Clients Remove Contracts Remove Legal Remove Reference
article thumbnail

Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

article thumbnail

NAR board votes to leave dues unchanged in 2025

Housing Wire

Additionally, the board also voted to change Article 4’s first standard of practice, which currently reads: “For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by Realtors prior to the signing of any contract.” represent themselves 2. represent a member of their immediate family 3.

Realtors 343
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CMLS looks to weigh in on the DOJ’s statement of interest

Housing Wire

CMLS goes on to argue that the court should evaluate the settlement agreement proposed by the plaintiffs and MLS PIN without any reference to the DOJ’s statement of interest. Prohibiting offers of compensation from brokers and sellers is a drastic imposition of MLS regulation on legal activities of listing brokers and sellers.

Sellers 432
article thumbnail

Umpa commission lawsuit defendants look to get case dismissed

Housing Wire

Due to how HomeServices and its affiliates handle their client contracts, if a dispute arises, each client is entitled to individual arbitration of their claims. 27, 2019, and the present — 118 different client agreements that are subject to arbitration fall under the laws of 35 different states.

Realty 421
article thumbnail

Nosalek plaintiffs cite Allan Dalton video in opposition to summary judgment

Housing Wire

During the podcast episode, which is from September 2019, Dalton is asked if he has a technique for when clients ask him to cut his commission. He tells listeners that he uses the following script: “There’s no bleeping bleeping way I’m going to cut my bleeping bleeping commission[.

Training 420
article thumbnail

HW+ Member Spotlight: Jeremy Potter

Housing Wire

Potter was recently promoted after serving as head of legal and capital markets and is a thought leader in the industry, regularly sharing his insights on how the industry can move forward through the power of innovation. I continue to refer to this as the best piece of advice I have ever received because it reflects two key values.

article thumbnail

Top of the list: An interview with Ben Caballero

Housing Wire

Caballero is like any real estate listing agent, on the hunt for clients. But instead of individual homesellers his clients are homebuilding companies including Toll Brothers , Trophy Signature Homes , and Historymaker Homes. But what you’re referring to would be a business to consumer business. And we don’t do any of that.

Realtors 394