Housing Wire

MARCH 21, 2024

While the news of the National Association of Realtors’ settlement agreement in the commission lawsuits may have created panic at some brokerages , local Realtor associations and Multiple Listing Services (MLSs) said they were not only anticipating the news but were prepared for it.

Realtors 427

Realtors Agents Real Estate Logistics 427

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.

Agents 427

Agents Legal Sellers Clients 427

Housing Wire

MARCH 14, 2024

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. Grochulski and Wang reached this conclusion after creating and analyzing a mathematical model of home searches and purchases in the U.S. housing market.

Agents 427

Agents Legal Real Estate Agent Buyers 427

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.

Real Estate 427

Real Estate Realtors Sellers Agents 427

Housing Wire

APRIL 29, 2024

The settlement agreement reflects Douglas Elliman’s commitment to mitigating future uncertainties and limiting legal costs, which will benefit our Company, agents and stockholders,” Howard M. The National Association of Realtors has also reached a nationwide settlement of the commission lawsuits.

Brokerage 436

Brokerage Agents Legal Realty 436

Inman

MAY 17, 2023

At the Realtors Legislative Meetings, NAR attorney Charlie Lee stressed agents can't count on a "standard" commission and will have to negotiate compensation with clients and listing brokers.

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Legal Realtors Clients Agents 135

Housing Wire

FEBRUARY 16, 2024

The complaint claims that the National Association of Realtors is the creator of this alleged conspiracy through its creation and enforcement of its Participation Rule. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present.

Real Estate 437

Real Estate Realtors Realty Brokerage 437

Housing Wire

APRIL 24, 2024

National Association of Realtors , et al., The Gibson suit was filed in late October 2023 by Michael Ketchmark, just after a Missouri jury ruled in favor of his clients in the Sitzer/Burnett suit that found real estate industry players liable for colluding to artificially inflate agent commissions.

Realtors 417

Realtors Real Estate Brokerage Law 417

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.

Realtors 417

Realtors Real Estate Legal Law 417

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 446

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 417

Housing Wire

MARCH 22, 2024

Compass has joined the National Association of Realtors , Anywhere , Keller Williams and RE/MAX in settling the commission lawsuits. The reason we have chosen to settle is so we can minimize distractions and focus on serving you and your clients.” “By settling, Compass is not saying that we did anything wrong.

Brokerage 454

Brokerage Realtors Agents Clients 454

Lamacchia Realty

DECEMBER 18, 2023

AGENT VS. REALTOR: WHY THE DIFFERENCE MATTERS Often, we hear the terms “real estate agent” and “REALTOR ®” being used synonymously. What many consumers don’t realize is there are some key distinctions of a REALTOR® that will benefit them in their real estate endeavors. What is NAR?

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Realtors Agents Real Estate Agent Real Estate 69

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.

Real Estate Agent 462

Real Estate Agent Real Estate Realtors Buyers 462

Housing Wire

OCTOBER 23, 2023

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. In addition, the contract stipulated that agents must join their local Realtor association. Goldberg testified that while there are roughly 2.5

Law 427

Law Agents Realtors Contracts 427

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 427

Housing Wire

NOVEMBER 20, 2023

Some of these provisions include no longer requiring agents to be members of the National Association of Realtors or following NAR’s Code of Ethics or the MLS Handbook. “We are pleased with the court’s decision to grant preliminary approval of the settlement,” Nick Bailey, the president and CEO of RE/MAX, LLC.,

Legal 427

Legal Real Estate Agents Realtors 427

Housing Wire

APRIL 8, 2024

In addition to the monetary award, Real has also agreed to implement business policy changes as part of the settlement, including “clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.”

Brokerage 383

Brokerage Real Estate Agent Real Estate Clients 383

Housing Wire

NOVEMBER 9, 2023

In mid-October amidst ongoing controversy, the National Association of Realtors (NAR) announced it has changed its commission rule , also known as its Participation Rule. 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.

Real Estate Agent 407

Real Estate Agent Real Estate Agents Realtors 407

Housing Wire

MARCH 25, 2024

Cooperative compensation The vast majority of questions addressed on the call dealt with whether or not buyer’s representation was going away, and how agents will get paid for the services they provide to clients. Cooperative compensation is still legal,” Papasan stressed.

Agents 437

Agents Advertising Real Estate Buyers 437

Housing Wire

NOVEMBER 1, 2023

Pearson also has concerns about what this will now mean for how she and her agents handle client meetings or how to word things on open house fliers. “I There will also be years of appeals about the legal standard used in the case and other issues,” Kelman wrote in a blog post. I do believe they will.

Open Houses 475

Open Houses Brokerage Agents Realtors 475

Housing Wire

APRIL 23, 2024

The integration of Matterport to Homes.com will allow homebuyers to view properties online, helping agents to provide even more value to their clients. Florance expressed confidence in CoStar’s business model, particularly in light of the recent commission lawsuit settlement by the National Association of Realtors.

Real Estate 408

Real Estate Advertising Legal Brokerage 408

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.

Real Estate Agent 427

Real Estate Agent Realtors Real Estate Sellers 427

Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing. million, respectively. .” ” What’s at stake?

Buyers 454

Buyers Brokerage Agents Realtors 454

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.

Buyers 475

Buyers Contracts Real Estate Agents 475

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 It is, however, named as a co-conspirator along with Anywhere and RE/MAX.)

Real Estate 407

Real Estate Realtors Realty Buyers 407

Housing Wire

NOVEMBER 7, 2023

Compass also requires their agents to ensure buy-side clients sign buyer-broker agreements. The primary MLS in the area, non-Realtor owned Northwest MLS , in 2019 eliminated a requirement that listing brokers offer buyer brokers a commission to submit a listing to the MLS. Revenue decreased by 10% year over year to $1.34

Agents 406

Agents Real Estate Agent Realtors Brokerage 406

Housing Wire

MAY 1, 2024

Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky. billion in damages, as well as what the judge’s final ruling would look like.

Realtors 415

Realtors Real Estate Agent Real Estate Brokerage 415

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.

Business 406

Business Marketing Real Estate Legal 406

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.

Realty 417

Realty Real Estate Law Brokerage 417

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.

Realty 427

Realty Realtors Brokerage Real Estate 427

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.

Contracts 417

Contracts Brokerage Law Real Estate Agent 417

Housing Wire

FEBRUARY 12, 2024

Making an appearance on the defendant list are the National Association of Realtors , Anywhere and its franchise Century 21 Everest , HomeServices of America and its affiliates, RE/MAX , Keller Williams and two local franchises, Equity Real Estate , Realtypath and Windermere Real Estate Services.

Real Estate 437

Real Estate Real Estate Agent Realtors Buyers 437

Housing Wire

OCTOBER 6, 2023

million ( Anywhere ) and $55 million ( RE/MAX ) payouts, both settlements contained nearly identical terms, including provisions to no longer require agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook. In addition to the already publicized $83.5 In the Sept.

Agents 407

Agents Brokerage Realtors Real Estate 407

Housing Wire

NOVEMBER 3, 2023

Thanks to provisions in both Anywhere’s and RE/MAX’s settlement agreements , as well as Redfin’s announcement that it would be requiring agents to cancel their National Association of Realtors membership, much of the speculation has focused on what will become of NAR’s 1.5 million members. Certainly there are a lot of places in the U.S.

Realtors 427

Realtors Agents Brokerage Contracts 427

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.”

Sellers 427

Sellers Real Estate Buyers Contracts 427

Housing Wire

APRIL 24, 2024

“Settling these claims today allows us to move beyond a very costly litigation process and focus our full time, energy and resources on what matters most: our agents, affiliate brokerages, staff and clients,” Mike Golden, the co-CEO of @properties and Christie’s International Real Estate, said in a statement.

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Brokerage Real Estate Agents Sellers 398