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Keller Williams faces three lawsuits tied to its profit-sharing program 

Housing Wire

Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. Allegations include breach of contract and unjust enrichment, with damages sought at $250 million. Three agents formerly affiliated with Keller Williams Realty — Jerri L. Moulder, David L.

Brokerage 500
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EPM files a counterclaim against Jesse Iwuji Motorsports

Housing Wire

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors.

Legal 298
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Mortgage tech firm Lender Toolkit sues two lenders for nonpayment

Housing Wire

Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. Both lenders entered into a contract with Lender Toolkit in 2021. MLD’s Colorado business volume between 2019 and the present accounts for less than 0.1% Lender Toolkit says Celebrity owes at least $97,288 and MLD Mortgage $138,069.

Mortgage 288
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What Does Under Contract Mean in Real Estate?

Raleigh Realty

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147
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Washington state could provide guidance for others on buyer broker agreements

Housing Wire

We coached our agents to present it to buyers like they would do with a listing agreement,” Bills Clarke said. For the most part we are saying, at a minimum, we want a four- to six-month contract because the buying process can be a lengthy process,” said Amy Breach, a broker with the Seattle-based and Keller Williams -branded The Hill Team.

Buyers 477
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Q2 AgentPulse survey: Low inventory is greatest challenge

Housing Wire

“With buyers who are asking I explain the situation and let them know that there could be a strong possibility they would need to pay a percentage if not all of the commission agreed upon to me as their buyers’ agent and that we need to enter into a contract.”

Inventory 399
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Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

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.

Law 426