Remove Development Remove Legal Remove Realtors Remove Sellers
article thumbnail

Opinion: Are we facing the end of the Realtor marketplace?

Housing Wire

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.

Realtors 411
article thumbnail

Christie’s affiliate dismissed from commission lawsuit

Housing Wire

In a document filed on Monday, the counsel for the home seller plaintiff Joseph Masiello notified the federal court in Arizona that it was voluntarily dismissing defendant Walt Danley Local Luxury , an affiliate of Christie’s International Real Estate , from the suit. The lawsuit was originally filed in early January.

Realty 359
Insiders

Sign Up for our Newsletter

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

article thumbnail

Howard Hanna dismissed from Batton II commission lawsuit

Housing Wire

Howard Hanna Real Estate declined to comment on the development. While the suit pertains to homebuyers and not sellers, the issue of real estate agent compensation is central to the suit. The Batton II suit is the second lawsuit filed by this group of homebuyers. In her ruling Wood $5.36

article thumbnail

Court approves Anywhere, RE/MAX commission lawsuit settlements

Housing Wire

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. The terms of the settlement agreements require RE/MAX and Anywhere to pay $55 million and $83.5 million , respectively, as well as make policy and practice changes.

Legal 376
article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

Buyers 498
article thumbnail

Opinion: Local MLS broker marketplaces, rules equitably advance American homeownership

Housing Wire

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. Sellers get access to the largest pool of buyers and the chance to sell their home for 35% more on average than for sale by owner.

article thumbnail

Zillow moves to have REX suit dismissed

Housing Wire

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.