Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., involve common questions of law and fact, consolidation will conserve judicial resources and promote efficiency, and consolidation will not cause undue delay, confusion, or prejudice,” Bough wrote in his ruling. Bough ruled Tuesday that the Umpa and Gibson commission lawsuits can consolidate.

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Realtors Real Estate Brokerage Law 396

Housing Wire

MARCH 22, 2024

There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement. As of Jan.

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Buyers Contracts Real Estate Agents 471

Housing Wire

DECEMBER 12, 2023

In a competitive market, the seller would pay nothing to the buyer broker, who would instead be paid by the buyer (their client), and the total commission paid by the seller would be set at a level to compensate only the seller’s broker,” the complaint states. The National Association of REALTORS will respond to this complaint in court.”

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Realtors Sellers Buyers Real Estate 441

Housing Wire

FEBRUARY 27, 2024

Like the other commission lawsuits, the Umpa suit alleges that the National Association of Realtors (NAR) and more than a dozen other real estate industry firms have colluded to artificially inflate agent commissions. In the Umpa suit — which is seeking class-action status for everyone in the U.S. No class can be certified in this scenario.”

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Realty Real Estate Law Brokerage 409

Housing Wire

APRIL 17, 2024

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” Since it was not, HomeServices is unable to compel arbitration, the brokerage argued.

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Contracts Brokerage Law Real Estate Agent 410

Housing Wire

MARCH 28, 2024

Originally filed in March 2019, the Moehrl lawsuit alleges that real estate industry participants including HomeServices, the National Association of Realtors (NAR), Anywhere , RE/MAX and Keller Williams conspired to artificially inflate real estate agent commissions. The suit obtained class certification in March 2023.

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Real Estate Agent Realtors Real Estate Sellers 403

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

MARCH 27, 2024

Rule 23(b)(3) requires that the court “find that ‘questions of law or fact common to class members predominate over any questions affecting only individual members,’ and that a class action is the ‘superior’ method of adjudication of the controversy. The Eighth Circuit refused this request. Supreme Court , which it filed in early February.

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Law Sellers Realtors Contracts 411

Housing Wire

JANUARY 11, 2024

When Kevin Sears stepped into the role of National Association of Realtors president on Monday following Tracy Kasper’s resignation , he became the trade organization’s third president in a little over four months. In addition to serving his local and state Realtor organizations, Sears has served NAR in multiple roles over the years.

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Realtors Real Estate Legal Law 409

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. Goldberg said he wasn’t sure, deferring the decision to the trade group’s legal team.

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Realtors Agents Clients Buyers 414

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. Further, compensation is set between the brokers and their clients and is always negotiable. As the trial of Burnett v. The list goes on and on.

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Real Estate Agent Real Estate Realtors Buyers 457

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. Who’s named?

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Real Estate Brokerage Sellers Law 414

Housing Wire

FEBRUARY 22, 2024

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. months as of December 2023), and implementing measures to moderate home price appreciation, fostering increased affordability.

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Business Marketing Real Estate Legal 397

Housing Wire

FEBRUARY 5, 2024

In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions.

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Contracts Brokerage Law Real Estate Agent 403

Housing Wire

MARCH 19, 2024

million in funds that resulted from the settlement agreements reached by Anywhere , RE/MAX , Keller Williams and the National Association of Realtors (NAR). The plaintiffs then subtracted the $626.5 The jury found that all Defendants ‘knowingly and voluntarily joined the conspiracy,’” the motion states.

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Sellers Realtors Law Contracts 389

Housing Wire

MARCH 29, 2024

The association notes in the draft of its proposed brief that its interest in the “proposed settlement stems from the fact, as DOJ highlights, that “several pending cases” are adjudicating MLSs’ adoption of the mandatory-compensation rule of the National Association of Realtors or similar policies.”

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Sellers Real Estate Buyers Contracts 424

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

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Realty Realtors Brokerage Real Estate 424

Housing Wire

NOVEMBER 2, 2023

While much remains unknown in the wake of the verdict in the Sitzer/Burnett commission lawsuit case, the one certainty is that all three defendants — National Association of Realtors , HomeServices of America and Keller Williams — all plan to appeal. This matter is not close to being final.

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Law Realtors Real Estate Brokerage 403

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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Real Estate Sellers Realtors Brokerage 395

Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. 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 393

McKissock

SEPTEMBER 20, 2021

Real estate agents are commonly sued for breaching their duty to act in the best interests of their client. To protect your clients’ interests, and reduce your own risk exposure, check out our highly-rated course, Know the Code: Your Guide to the Code of Ethics. Overview of NAR Code of Ethics: Articles 1–13.

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Real Estate Clients Real Estate Agent Realtors 58

Housing Wire

MAY 9, 2024

We will continue to focus on what we do best: empowering real estate entrepreneurs so they can deliver exceptional value to their clients.” Of the 27 million email notices and 10 million-plus postcard notices sent out, nearly 200,000 claims have been filed and 61 class members have opted out of the settlement. This story is developin g.

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Brokerage Realty Sellers Real Estate 382

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.

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Agents Brokerage Advertising Real Estate 441

Housing Wire

SEPTEMBER 6, 2023

Worst case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said. The National Association of Realtors , a defendant in both lawsuits, says it is not giving up the fight.

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Agents Buyers Realtors Sellers 414

Housing Wire

AUGUST 9, 2022

This despite diverse, overlapping and multi-layered laws and regulations at the national, state, county and municipal levels. Client demand may also play a major role in getting tech-hesitant title business owners off the fence. All of that carries a cost.

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Technology Business Agents Clients 491

Housing Wire

OCTOBER 26, 2023

After filing a motion for a mistrial Wednesday morning, citing several grievances including “vulgar” footage from a Tom Ferry podcast featuring Allan Dalton and references to the Department of Justice’s investigation of the National Association of Realtors (NAR), defendant HomeServices of America learned it didn’t get its way.

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Buyers Sellers Agents Law 410

Housing Wire

APRIL 5, 2024

The HomeServices filing also notes that the law requires the plaintiffs to “demonstrate a danger of hardship if its request is not granted,” which HomeServices says they failed to do. In its filing HomeServices wrote that the interest on the damages amount should begin accruing on the date Judge Bough enters his final judgement.

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Brokerage Sellers Law Contracts 409

Housing Wire

NOVEMBER 30, 2023

Considerations for attorneys in Ohio If you are an active, licensed attorney in the state of Ohio, you may be able to apply some of your law degree credits toward the Ohio prelicensing course requirements. Be honest and truthful Not be convicted of a disqualifying offense. It is not a compilation of courses that total 20 hours.

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Real Estate Real Estate Agent Brokerage Agents 417

Housing Wire

MAY 26, 2023

But the patchwork of state, county and municipal requirements — in addition to federal rules and regulations — demands that a growing firm have access to an attorney or legal resources deeply familiar with the industry, as well as the region in which that firm intends to grow. Will it work well with your new clients in that market segment?

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Business Marketing Law Technology 356

Housing Wire

AUGUST 9, 2022

I was originally interested in doing journalism or law. I like that title has a legal aspect to it, but I also like that we are able to talk to people and get to know them a bit through their transaction. But I like that there is a balance between legal stuff and people. Luna: I definitely stumbled into it.

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Real Estate Agent Real Estate Insurance Business 382

Housing Wire

OCTOBER 20, 2023

During their testimony, attorneys for the defendants, which now include National Association of Realtors , Keller Williams and HomeServices of America , had the opportunity, if they wished, to cross-examine the witnesses in addition to the questions posed by Michael Ketchmark, the lead attorney for the plaintiffs.

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Contracts Agents Buyers Real Estate 403

Raleigh Realty

FEBRUARY 4, 2022

Initially, the seller tried to sell his home by himself before soliciting my help and I was able to get it sold for him to one of my clients. Here’s a common scenario on when dual agency may occur: A real estate agent is hired to sell the home of a client named Mary. What is Dual Agency in Real Estate?

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Real Estate Real Estate Agent Sellers Agents 148

Housing Wire

OCTOBER 9, 2023

1] As a real estate broker in Illinois, it is not legal for you to work independently. To qualify for an Illinois broker license as an attorney, you must be at least 18 years old and be admitted to practice law by the Illinois Supreme Court. After two years, you are free to pursue your managing broker license if you so choose.

Real Estate Agent 411

Real Estate Agent Real Estate Agents Brokerage 411

McKissock

AUGUST 5, 2020

FSBO ethics are not included in the National Associaton of REALTORs® (NAR) Code of Ethics. A 2016 Florida Realtors® forum asked: “Can a Realtor® advertise his/her home for sale as a FSBO with no intention of actually selling, but to only attract buyers for the agent’s services?” FSBO ethics: avoiding unethical tactics.

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Advertising Realtors Real Estate Agents 95

Raleigh Realty

MARCH 23, 2021

The question should I sell my home for sale by owner or without a Realtor® is likely one asked by every home seller with the thought of trying to save money. Buyers want to work with the best local Realtors® to help them when buying a home because it is such a large financial purchase with so many different components involved.

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Real Estate Agent Real Estate Realtors Contracts 133

Housing Wire

APRIL 12, 2023

Ike Suri is chairman and CEO of FundingShield , a loan-level fraud prevention and risk management company that offers tech-based solutions to help clients securely manage funding processes and avoid wire-fraud schemes. Underreporting [of BEC fraud] is huge,” Suri said. Getting scammed] is an embarrassment. Doshi of Paymints.io

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Real Estate Government Technology Real Estate Agent 381

Lamacchia Realty

NOVEMBER 21, 2023

A local real estate expert can offer knowledge tailored to your area, understanding unique market trends, laws, and community dynamics. Beyond identifying emerging areas for investment, their role is crucial in helping clients understand and navigate real estate myths with data-driven insights.

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Real Estate Real Estate Agent Local Properties Valuation 63