Housing Wire

MAY 29, 2024

Northwest MLS , the largest multiple listing service in the Pacific Northwest, will not take part in the $418 million agreement reached by the National Association of Realtors (NAR) in the Sitzer/Burnett case. Secret deals’ The NWMLS board of directors made the decision to opt out at its most recent meeting, the organization said Tuesday.

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Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. The National Association of REALTORS® is reviewing this new filing and will respond to it in court.”

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Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. At the center of the lawsuit is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer’s brokers in order to list a property on a Realtor association affiliated MLS. 2, 2019, and Oct.

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Housing Wire

JANUARY 16, 2024

8, 2019, and the present. Additionally, the plaintiffs are demanding a jury trial, damages, a permanent injunction barring the defendants from requiring sellers pay the buyer broker, and “restitution and restitutionary disgorgement of all monies wrongfully obtained from Plaintiff and the Class by Defendants.”

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Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS.

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Housing Wire

MAY 24, 2021

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. The April 2021 survey was sent to 50,000 Realtors selected from NAR’s over 1.4 Pending sales for the seven-day period ending May 16 were down 10% from four weeks prior, compared to an 8% increase during the same period in 2019.

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Housing Wire

MARCH 29, 2024

The association notes in the draft of its proposed brief that its interest in the “proposed settlement stems from the fact, as DOJ highlights, that “several pending cases” are adjudicating MLSs’ adoption of the mandatory-compensation rule of the National Association of Realtors or similar policies.”

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Housing Wire

AUGUST 27, 2020

year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors. “We Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”. million, a 1.1%

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Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri. Who’s named?

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Real Estate Brokerage Sellers Law 448

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

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Real Estate Sellers Real Estate Agent Realtors 459

Housing Wire

SEPTEMBER 17, 2021

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. Sellers remain in control, but the next month or two will be very telling,” Stacey Delgado, a Redfin agent in Raleigh said.

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Housing Wire

NOVEMBER 14, 2023

At the center of the plaintiffs’ complaint is the National Association of Realtors’ Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyers’ brokers in order to list the property on the MLS. “In 13, 2019, to the present.

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Housing Wire

MARCH 28, 2024

The change enabled greater flexibility and choice for sellers when listing a property and gave buyers and buyers’ brokers a vehicle for negotiating for compensation when making an offer to purchase,“ NWMLS wrote in the filing. NWMLS counters that these rule changes increased transparency and removed the potential for steering. “The

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Sellers Contracts Buyers Realtors 457

Housing Wire

FEBRUARY 22, 2024

from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). While inventory is less depleted, it remains well below the pre-pandemic level of January 2019. million in January 2019.” compared to the start of 2019, according to Realtor.com data.

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Housing Wire

JANUARY 9, 2023

The 29% average purchase discount was also well above the pre-pandemic average of 22% between 2015 and 2019. Home sales bottoming out as sellers eventually capitulate on price. Assuming mortgage rates do not drop substantially in 2023, sellers will eventually need to capitulate on price to adjust to this new reality.

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Housing Wire

AUGUST 10, 2022

Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data. We aren’t talking forced sellers, foreclosures or even short sellers.

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Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

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Housing Wire

SEPTEMBER 30, 2024

The landmark antitrust lawsuit settlement agreed to by the National Association of Realtors (NAR) in March has put the practices of real estate agents in the spotlight for both regulators and clients alike. Now, with agent commissions starting to decline, agents naturally want to convey the value of their services to buyers and sellers.

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Housing Wire

DECEMBER 8, 2023

By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs. The amended complaint also named three new plaintiffs, 125 Hooper LLC, Robert Arko and Andrew Moore, who all sold homes in the state between December 2019 and the present.

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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. 27, 2019, and the present — 118 different client agreements that are subject to arbitration fall under the laws of 35 different states. Filed in late 2023 in the U.S.

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Realty Real Estate Law Brokerage 448

Housing Wire

SEPTEMBER 3, 2024

In response, Bright MLS chief economist Lisa Sturtevant noted that while “declining rates are good for both buyers and sellers,“ rates are not yet low enough to alleviate the lock-in effect that has stopped many potential listings in their tracks. As rates fall, the rate gap is going to be less of an obstacle to sellers.

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Housing Wire

APRIL 13, 2021

SentriLock , the home lockbox company wholly owned by the National Association of Realtors (NAR), announced Tuesday that they created a computer and smart phone platform to help real estate agents juggle their home showing appointments. The development is intriguing for a few reasons. Presented by: Propertybase.

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Housing Wire

JULY 13, 2021

Two of my buyers just had their offers accepted because the sellers’ first buyers backed out. In 2018-2019, total housing inventory was in the range between 1.52 million, and that level of inventory helped to drive real home-price growth in 2019 into negative territory briefly. million and 1.92 million to 5.61

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Inventory Housing Market Real Estate Agent Buyers 511

Housing Wire

MAY 23, 2023

in April 2023, according to the National Association of Realtors (NAR). It’s important to note that, despite the quarter-over-quarter drop, the foreclosure auction price demanded in Q1 2023 was still well below the when the pre-pandemic average of 60% in 2019. That 51% pricing by sellers was a more than five-year low.

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Housing Wire

APRIL 28, 2021

“These patterns are puzzling given the industry’s significant technological changes,” concluded a Brookings Institution paper from 2019. For the past month, HousingWire plunged down the foreboding rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

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Real Estate Real Estate Agent Agents Brokerage 433

Housing Wire

JANUARY 22, 2024

In November of 2019 the number of single-family homes for sale was at 6,000. The market in Indianapolis is very cyclical,” Carrie Holle, Realtor and principal of the Carrie Holle Group with Compass , told HousingWire. Indianapolis is more affordable than much of the country. 19, down from 54.79% on Nov. 10, 2023. “The

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Housing Wire

AUGUST 5, 2020

The National Association of Realtors found in its Profile of Home Buyers and Sellers in 2019 that 26% of all homebuyers said the quality of schools was important when finding a new home. Living in a good school district is one of the biggest factors for homebuyers, even if they’re empty nesters.

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Realtors Realty Buyers Sellers 521

Housing Wire

MARCH 14, 2024

In the paper, the authors note the ongoing legal battle between the DOJ and the National Association of Realtors (NAR) over commissions, as well as the myriad of lawsuits and the jury verdict in the Sitzer/Burnett suit, in which the real estate industry was found liable for colluding to artificially inflate agent commissions.

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Agents Legal Real Estate Agent Buyers 459

Housing Wire

NOVEMBER 4, 2022

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. These factors also impacted when, where and how buyers purchased homes, according to NAR’s 2022 Profile of Home Buyers and Sellers , which also analyzed the demographic of buyers and sellers across America.

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Sellers Buyers Real Estate Agent Real Estate 418

Housing Wire

MARCH 22, 2024

“I think one of the major trends we are seeing is that our overall inventory is up 60% year over year compared to 2023,” said PJ Smith, president of the Naples Area Board of Realtors and the broker-owner of Naples Golf to Gulf Real Estate. “We We are seeing a healthy increase in inventory, which we really needed.” Literally since Jan.

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Insurance Inventory Marketing Real Estate 448

Housing Wire

NOVEMBER 4, 2024

In the third quarter of 2024, newly built single-family homes made up just 28% of homes for sale, according to a recent Redfin report based on data from the National Association of Realtors (NAR) and the U.S. This indicates that buyers and sellers alike are showing signs of frustration in waiting for rates to fall. Census Bureau.

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Marketing Inventory Construction Realtors 370

Housing Wire

SEPTEMBER 5, 2024

This dovetails with recent pending sales data from the National Association of Realtors. The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines,“ Realtor.com chief economist Danielle Hale said in a statement. “As

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Inventory Buyers Sellers Mortgage 468

Housing Wire

AUGUST 3, 2023

The 8th Circuit Court of Appeals’ three-judge panel concurred with a lower district court’s decision that HomeServices is not permitted to enforce arbitration agreements signed by seller clients of franchisees under its authority. Judge Bough will make a final decision about that date at a scheduled September 9 pretrial hearing.

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Realtors Real Estate Sellers Buyers 370

Housing Wire

DECEMBER 28, 2021

real estate in 2022 may see challenges to its biggest enterprises, including the National Association of Realtors and Zillow , and shifting adjustments to how work is done amid the coronavirus pandemic. million homes sold at the end of September, according to National Association of Realtors data. on pace for 6.29 July was the plateau.

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Real Estate Realty Brokerage Realtors 476

Housing Wire

SEPTEMBER 30, 2024

We are not seeing that same buyer frenzy we were seeing six months ago,” said Audra Fontanella, the broker-owner of Bergen County-based RE/MAX Venture Realtors. “We According to Lisa Comito, the president of Greater Bergen Realtors and a broker at Howard Hanna Rand Realty. in early May to 47.88 as of Sept. As of Sept.

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Housing Market Marketing Inventory Agents 430

Housing Wire

OCTOBER 17, 2023

The National Association of Realtors , whose Participation Rule lies at the center of the this and other lawsuits, used its opening remarks to note that the rule has been around for 25 years and has been clearly published on NAR’s website.

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Sellers Agents Buyers Realtors 435

Housing Wire

OCTOBER 3, 2023

“We are doubling down that all fiduciary relationships with buyers and sellers be in writing and that sellers understand their rights regarding commissions,” said a Keller Williams Real Estate leader in the Northeast. Another 10% are honing their value proposition , particularly as it relates to buyers’ agents.

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