Housing Wire

FEBRUARY 27, 2024

District Court for the Western District of Missouri , the lawsuit is named after its lead plaintiff, Maryland home seller Daniel Umpa. Defendant United Real Estate also filed a motion to strike the class allegations, which it said were “to protect arbitration and class action waiver rights.” Filed in late 2023 in the U.S.

Realty 421

Realty Real Estate Law Brokerage 421

Housing Wire

NOVEMBER 8, 2023

The Missouri judge who oversaw the landmark Sitzer/Burnett real estate commission lawsuit will also preside over the Gibson lawsuit brought by Michael Ketchmark, who represented the plaintiffs in Sitzer/Burnett. Redfin was likely named because its salaried agents offer standard commission rates to buyer brokers.

Real Estate 432

Real Estate Sellers Realtors Real Estate Agent 432

Housing Wire

APRIL 24, 2024

In their motion, the plaintiffs argued that they should be allowed to consolidate as both cases were filed in Missouri, ask similar questions, share common defendants and have relatively similar classes. Additionally, both suits were under the purview of Bough. The Umpa suit was filed in late December 2023 by a Maryland home seller.

Realtors 420

Realtors Real Estate Brokerage Law 420

Housing Wire

JANUARY 22, 2024

The real estate industry is facing one less copycat commission lawsuit. District Court in New York against the Real Estate Board of New York and several brokerages, according to court filings. Friedman’s suit was in regard to the 2021 sale of his Park Slope home, in which he paid a buyer broker commission.

Real Estate Agent 432

Real Estate Agent Real Estate Agents Sellers 432

Housing Wire

AUGUST 18, 2023

The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023. 186 spot on the Inc.

Brokerage 370

Brokerage Real Estate Realty Real Estate Agent 370

Housing Wire

JANUARY 11, 2024

The Real Estate Board of New York is now fighting a second copycat commission lawsuit. In addition to REBNY and Douglas Elliman, the complaint names Christie’s International Real Estate , Brown Harris Stevens , SERHANT. Compass , The Agency , Elegran , Engel & Völkers , R New York , Terra Holdings , Leslie J.

Real Estate 432

Real Estate Sellers Real Estate Agent Agents 432

Housing Wire

JANUARY 31, 2024

After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” billion class-action lawsuit in Missouri known as Sitzer/Burnett in October.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Agents 466

Housing Wire

NOVEMBER 8, 2023

Another day and another class-action antitrust commission lawsuit accusing the real estate industry of colluding to inflate real estate agent commissions has been filed. The complaint states the reason for the rule is “to maintain high broker commissions for NAR members at the expense of homebuyers.”

Real Estate 432

Real Estate Realtors Sellers Agents 432

Housing Wire

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. This system, with its veiled surcharges, illegally warps the real estate market.”

Brokerage 432

Brokerage Realty Real Estate Agent Real Estate 432

Housing Wire

AUGUST 3, 2023

District Court in Western Missouri in July. ” Lawsuit scheduled to go to court The case, known as Sitzer/Burnett , named after the lead plaintiff, is scheduled to go to court October 16 in Missouri. .” Bough of U.S. In response, HomeServices and its subsidiaries appealed the decision to the U.S.

Realtors 370

Realtors Real Estate Sellers Buyers 370

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. Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466

Housing Wire

JANUARY 16, 2024

In an amended complaint filed on Friday, the plaintiffs’ counsel named Vanguard Properties , Twin Oaks Real Estate , Windermere Real Estate Services Company , Rapisdara & Fox and Realty One Group , as additional defendants in the antitrust suit. The lawsuit was originally filed in U.S. 8, 2019, and the present.

Brokerage 450

Brokerage Realtors Realty Real Estate 450

Housing Wire

MARCH 26, 2024

Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. District Court for the Eastern District of Missouri in St. This change will not affect agents that retire or leave the real estate brokerage business. Moulder, David L.

Brokerage 500

Brokerage Legal Agents Realty 500

Housing Wire

JANUARY 2, 2024

For many real estate professionals, 2023 was the year of the commission lawsuit , and the year could not end without one last copycat suit. Umpa sold his Ohio home with Redfin and his Maryland home with Compass , and the suit states that he “paid a substantial buyer-broker compensation,” in both transactions.

Sellers 421

Sellers Brokerage Real Estate Realtors 421

Housing Wire

SEPTEMBER 20, 2023

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. In their third amended complaint, the plaintiffs set out three counts, a Sherman Antitrust Act violation, a violation of Missouri Merchandising Practices Act and a violation of Missouri Antitrust Law.

Buyers 432

Buyers Law Realtors Agents 432

Housing Wire

FEBRUARY 1, 2024

On Thursday, the Gary Keller-helmed brokerage notified the federal court in Missouri that it had entered into a settlement agreement with the plaintiffs in the Sitzer/Burnett suit. It allows us all to turn our attention back to what we do best: delivering unparalleled value in an ever-evolving real estate market,” he added.

Agents 473

Agents Realtors Real Estate Agent Real Estate 473

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 384

Brokerage Real Estate Agent Real Estate Clients 384

Housing Wire

DECEMBER 6, 2023

Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. Both lawsuits are seeking class-action status. 4, 2019 and the present. These allegations are absurd.

Realty 432

Realty Realtors Brokerage Real Estate 432

Housing Wire

DECEMBER 20, 2023

Like the other commission lawsuits, the plaintiffs in the Moehrl suit allege that the real estate industry has colluded to artificially inflate real estate agent commissions. NAR’s policies expressly prohibit MLSs, associations, and brokers from setting or suggesting real estate commissions or fees.

Real Estate 420

Real Estate Sellers Realtors Brokerage 420

Housing Wire

APRIL 26, 2022

residential real estate economy as we know it is far from cooked, but a judge has turned on the front burner. Stephen Bough, a judge for the federal court in Kansas City, Missouri certified a class action lawsuit in a written ruling Friday that makes “hundreds of thousands” of U.S. The defendants?

Brokerage 370

Brokerage Real Estate Agents Realtors 370

Housing Wire

JANUARY 9, 2024

Like the other copycat commission lawsuits, the plaintiff James Tuccori, an Illinois resident who purchased a home listed on the local MLS in 2018 with the help of an @properties agent, is accusing real estate industry players of colluding to artificially inflate real estate agent commissions.

Property Management 421

Property Management Real Estate Agents Brokerage 421

Housing Wire

NOVEMBER 3, 2023

Real estate commissions are under the microscope. With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. Judge Stephen R. Bough of U.S.

Real Estate 324

Real Estate Brokerage Buyers Property Management 324

Housing Wire

SEPTEMBER 18, 2023

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. RE/MAX’s settlement agreements, as well as the earlier settlement agreements reached by Anywhere Real Estate , must be approved by the U.S.

Buyers 491

Buyers Realtors Agents Real Estate 491

Housing Wire

OCTOBER 26, 2023

KANSAS CITY, Missouri — The ninth day of the Sitzer/Burnett commission lawsuit started off with some overnight news from the court. to countries like Australia and the United Kingdom, which have very different real estate systems, Swanepoel said. Schulman testified last Friday after being called as a witness by the plaintiffs.

Buyers 421

Buyers Sellers Agents Law 421

Housing Wire

NOVEMBER 20, 2023

RE/MAX and Anywhere Real Estate can breathe a sigh of relief. Judge Stephen Bough, who oversaw the Sitzer/Burnett trial last month in Missouri’s Western District, granted the settlements preliminary approval Monday morning. said in a statement. Many analysts and observers expect the DOJ to get involved at some point.

Legal 432

Legal Real Estate Agents Realtors 432

Housing Wire

JANUARY 11, 2024

In the lead up to the Sitzer/Burnett real estate commission trial , the National Association of Realtors expected to prevail. “I There was industry-wide shock when the Missouri jury found NAR, Keller Williams and HomeServices of America liable for colluding to artificially inflate real estate agent commissions.

Real Estate Agent 441

Real Estate Agent Real Estate Buyers Agents 441

Housing Wire

MARCH 15, 2024

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. You should be finding buyers before real estate agents anyway.”

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

OCTOBER 23, 2023

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. The day started with video depositions of four real estate brokerage executives. for buyer brokers and that overall broker commissions were to be between 6% to 10%.

Law 432

Law Agents Realtors Contracts 432

Housing Wire

JANUARY 26, 2024

Sparks and personal insults flew between Anthony Lamacchia , the broker-owner of Lamacchia Realty , and Michael Ketchmark, the lead attorney for the plaintiffs in the Sitzer-Burnett commission lawsuit , during their virtual debate hosted by HousingWire on Friday afternoon. This is a free, open, capitalist society,” Lamacchia said.

Realtors 441

Realtors Law Agents Real Estate 441

Housing Wire

OCTOBER 17, 2023

The highly anticipated trial of the Sitzer/Burnett buyer broker compensation class action lawsuit kicked off in earnest on Tuesday morning, with opening arguments taking place in the Kansas City courtroom belonging to U.S. District Court Judge Stephen Bough.

Sellers 410

Sellers Agents Buyers Realtors 410

Housing Wire

OCTOBER 19, 2023

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. Ellis is a Missouri homeowner and the daughter of a 30-year real estate industry veteran.

Training 410

Training Agents Real Estate Brokerage 410

Housing Wire

OCTOBER 18, 2023

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. In the book, Keller also mentions that each side in a real estate transaction gets an average of a 3% commission.

Agents 432

Agents Training Real Estate Real Estate Agent 432

Housing Wire

NOVEMBER 1, 2023

.” Unnamed agent in recorded call with REX Not showing clients properties because they have below-market commission rates is an example of “steering,” a practice that is often alleged about buyer agents and just as often denied by broker firms and associations. billion in Missouri alone.

Clients 432

Clients Agents Buyers Sellers 432

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. Report” and distributed to all NAR members, found that real estate commissions were down globally.

Realtors 421

Realtors Agents Clients Buyers 421

Housing Wire

OCTOBER 20, 2023

So far, week one of the Sitzer/Burnett bombshell class action antitrust buyer broker commission lawsuit has seen four of the five named plaintiffs testify in front of the jury. Ellis is a Missouri homeowner and the daughter of a 30-year real estate industry veteran.

Contracts 410

Contracts Agents Buyers Real Estate 410

Housing Wire

OCTOBER 26, 2023

When asked about the allegations that real estate companies and professionals conspired to raise or stabilize commissions, she replied: “It is absolutely untrue.” If the rule were to go away, Frazier said fewer people would use buyer brokers, as they would have to pay for their own agent and not everyone can afford to do that.

Law 410

Law Agents Brokerage Buyers 410

Housing Wire

OCTOBER 25, 2023

It has been an eventful and drama-filled 24 hours in Kansas City, Missouri, for the Sitzer/Burnett class-action antitrust buyer broker commission lawsuit. On Tuesday afternoon, after the National Association of Realtors finished its defense, HomeServices of America took the floor.

Sellers 410

Sellers Realtors Real Estate Design 410