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How to Become a Real Estate Agent in Illinois (IL) in 5 Steps

Housing Wire

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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MV Realty files for bankruptcy

Housing Wire

MV Realty operated in 33 states and has more than 500 real estate agents. The firm’s legal troubles began in late 2022 when it was sued by attorneys general in Florida , Massachusetts and Pennsylvania over its 40-year contracts.

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How the commission lawsuits may prompt intervention from DOJ and regulators

Housing Wire

So, the fact that we are now seeing things further in the process come down to agents and brokers — I was not entirely surprised by that.” In addition to the DOJ, real estate agent commissions may have caught the eye of yet another government agency. Solicitor General Paul Clement to its legal team. “I

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NAR, MBA ask for clarification on underwriting rules

Housing Wire

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs.

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Appeals court to allow DOJ to reopen its investigation into NAR

Housing Wire

the court “will not interpret a contract to cede a sovereign right of the United States unless the government waives that right unmistakably. The investigation into NAR by the DOJ and ensuing appeal is not the only legal battle the DOJ and the real estate industry are currently involved in. Winstar Corp.,

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How to get a real estate license in Texas

Housing Wire

Texas residents interested in becoming a real estate agent must first complete 180 hours of approved coursework to be eligible to sit the state licensure exam. We estimate that it’ll take three to six months to get up and running as a licensed real estate agent in the Lone Star State.

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DataDigest: The remarkably resilient agent commission rate

Housing Wire

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. The legal threat that looms largest is what’s known as the “Moehrl case.” Congratulations!” You just sold your house.” And that was that! See the house?

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