Remove 2002 Remove Buyers Remove Realtors
article thumbnail

Copycat commission lawsuits continue as Illinois homebuyers take action

Housing Wire

District Court in Chicago by plaintiffs Dawid Zawislak and Michael D’Acquisto against Equity Realtors , HomeSmart International and Fathom Realty. While the National Association of Realtors (NAR) was not named as a defendant in the suit, it was listed as a co-conspirator along with several Realtor-owned MLSs.

Realtors 432
article thumbnail

Don’t be surprised if a 61-year-old white woman buys your house

Housing Wire

Newly released data from the annual profile of home buyers and sellers by the National Association of Realtors (NAR) shows just how dramatically this trend has manifested since the financial crisis of 2008. While the median age of buyers gradually increased over the course of two decades, the COVID-19 pandemic sped it up.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Judge denies HomeServices’ motion for ‘judgment as a matter of law’ in Sitzer suit

Housing Wire

She said that HomeServices does not meddle in operations, give advice, or advise on commissions or how the brokerage approaches Realtor association membership. Frazier also told the jury that ReeceNichols does not require agents to be members of the National Association of Realtors , but the local MLS does.

Law 430
article thumbnail

Existing home sales are still too hot

Housing Wire

Today, the National Association of Realtors reported a 2.5% Because housing demand is at pre-cycle highs, we can infer home prices are not an issue for most buyers. nominal home price growth every year for the next several years, affordability will be an issue for some buyers. If we have greater than 4.6%

article thumbnail

Gary Keller, Bob Goldberg, Gino Blefari depositions on commissions shared with the jury

Housing Wire

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. When you reduce the commission, you reduce the incentive for that agent to bring a buyer to your house.

Training 459
article thumbnail

The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 As you can see from this NAR report, cash buyers as a percent of sales is slightly lower now than levels in 2016. That was the housing market of 2002-2005, not what we have today. million and 6.16

article thumbnail

Dave Stevens on understanding this housing market

Housing Wire

It boxed out many first-time homebuyers who found themselves unable to compete against buyers willing to place a non-contingent offer above full price. In fact, while in won’t match 2020 or 2021, purchase mortgage dollar volume should be better than any year from 2002–2020. Buying now means being able to negotiate as a buyer.