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Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest.

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First Team departs Christie’s, rebrands brokerage

Housing Wire

Amid the tight housing market , First Team wants to go back to its “agent-first” model, focusing on its marketing programs as well as training its agents, the company said in a statement. We are a company made by Realtors for Realtors, which is exceedingly rare in our industry today.”

Brokerage 362
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Majority of recent homebuyers have regrets: survey

Housing Wire

We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. It noted the upcoming changes to agent commission structures following the nationwide settlement by the National Association of Realtors (NAR) and several major brokerage firms.

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Real estate brokers focus on value amid commission lawsuit unease

Housing Wire

The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Some 40% of respondents say they are focusing on educating and training their agents. Today, the first class action commission lawsuit goes to trial in Kansas City, Missouri.

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Stakes are high as first buyer broker commission lawsuit goes to trial today

Housing Wire

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.

Buyers 448
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Q4 BrokerPulse: Commission lawsuits spur proactive changes for real estate brokers

Housing Wire

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Only 1% of respondents say they are restructuring their compensation model.

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Glenn Kelman says Redfin has ‘very good defenses’ for commission lawsuit

Housing Wire

In regards to the outcome of the Sitzer/Burnett commission lawsuit , Kelman said it was one that Redfin has long prepared for, which he felt was evident in the firm’s commitment to giving consumers a better deal and the announcement of their break from the National Association of Realtors. I feel a twinge of optimism. million in Q3 2022.

Agents 399