Housing Wire

AUGUST 6, 2024

In March 2024, the National Association of Realtors (NAR) settled the nationwide commission lawsuits and agreed to several business practice changes, including a mandate that buyers sign a broker representation agreement prior to going on a home tour with their agent. 17 where we are creating liability for ourselves and our agents.

Brokerage 448

Brokerage Realtors Agents Real Estate 448

Housing Wire

JANUARY 14, 2025

When I started my first brokerage in my late twenties, I was full of ambition but had no idea what to expect. If your dream is to own your own brokerage and manage a team of top-performing agents, leading your team to success means much more than hanging a new license on your wall. The terms used vary by state.

Real Estate 291

Real Estate Brokerage Agents Real Estate Agent 291

Housing Wire

AUGUST 12, 2024

Many brokerage firms are trepidatiously moving to a model with no cooperative compensation in light of the impending business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement. refuses to work with buy-side agents. Peter Voss at 3% Listing Co.

Brokerage 432

Brokerage Agents Sellers Buyers 432

Housing Wire

MAY 3, 2021

Compass defrauded its real estate agents out of millions of dollars in sales commissions and broke pledges to give agents shares of stock, according to a new lawsuit that seeks class-action status. The couple allege that the brokerage lured them in 2018 with the promise of a signing bonus, marketing budget, and office space.

Agents 418

Agents Brokerage Real Estate Agent Real Estate 418

Housing Wire

APRIL 22, 2024

Last week, Keller Williams was named to an additional class-action lawsuit, which also takes issue with alterations made to the brokerage’s profit-sharing program. But that policy did not impact agents who joined before April 1, 2020. In February 2020 , KW introduced a more restrictive policy to its profit-sharing program.

Agents 383

Agents Brokerage Legal Real Estate 383

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Presented by: Axis Technical Group.

Real Estate 415

Real Estate Brokerage Lending Mortgage 415

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business. In mid-May 2022, REX ceased its brokerage operations.

Advertising 394

Advertising Brokerage Real Estate Legal 394

Housing Wire

SEPTEMBER 18, 2024

Fathom Holdings , the parent company of Fathom Realty , has joined the list of corporate brokerages to settle the commission lawsuits. Our unwavering commitment to providing excellent service to our agents, clients, and customers remains steadfast,” Marco Fregenal , the CEO of Fathom Holdings, said in a statement. “We

Brokerage 363

Brokerage Legal Fees Realty Legal 363

Housing Wire

NOVEMBER 17, 2021

Podcast: Comparing real estate team and brokerage profitability. Study: It’s true, real estate teams outperform brokerage firms. RealTrends Brokerage Compensation Report. However, these super-sized teams aren’t the only ones turning a profit — a profit that dwarfs most real estate brokerage’s profit. agents and 4.5

Real Estate 381

Real Estate Brokerage Agents Advertising 381

Appraisal Buzz

JUNE 28, 2024

Legal counsel for NAR approved the agreement in early March. But a new study recently released by AccountTECH, an accounting software provider for the real estate industry, shows that virtually all brokerages across the U.S. If that number rises to 2.5%, 60% of brokerages become unprofitable.

Brokerage 354

Brokerage Real Estate Agents Real Estate Agent 354

Housing Wire

MARCH 26, 2024

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. The following day, Bueker, a former KW agent from 2003 to 2011, filed a similar complaint in the U.S.

Brokerage 506

Brokerage Legal Agents Realty 506

Housing Wire

MAY 3, 2023

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. My agent exchanged a few emails with the buyer’s agent over a few minor repair requests, but this was all buttoned up very quickly. Congratulations!” And that was that!

Agents 419

Agents Real Estate Agent Brokerage Real Estate 419

Housing Wire

JULY 23, 2021

During the Q&A, Blake discussed the ramifications of previous DOJ investigations into NAR and conversations he has had with top-level agents on how they’re feeling about this news. How, if at all, does it practically affect agents? Mathew Blake: This is not an obscure, legal matter. HousingWire: Interesting insight.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Housing Wire

AUGUST 2, 2024

But when it comes to the financial performance of their brokerages, industry analysts don’t believe the changes will be the end-all, be-all. “It In Soham Bhonsle’s view, buy-side agent commission compression will be curtailed because the industry will lose the vast majority of its low-performing or part-time agents.

Brokerage 389

Brokerage Business Agents Buyers 389

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. As a result of this scheme, the purportedly non-negotiable commissions of buyer agents are rolled into the sale price of homes.

Brokerage 448

Brokerage Realty Real Estate Agent Real Estate 448

Housing Wire

SEPTEMBER 6, 2024

Real estate agents largely felt prepared to tackle the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , according to the recently published Stephens Summer 2024 Real Estate Agent Survey.

Agents 373

Agents Real Estate Agent Brokerage Realty 373

Housing Wire

OCTOBER 24, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. One constant has been questions over agent commissions , which were at the center of the legal battle. One constant has been questions over agent commissions , which were at the center of the legal battle.

Agents 430

Agents Real Estate Sellers Brokerage 430

Housing Wire

SEPTEMBER 20, 2024

In a new episode of the HousingWire Daily podcast , Editor in Chief and host Sarah Wheeler sits down with eXp Realty CEO Leo Pareja to discuss the National Association of Realtors ‘ (NAR) commission lawsuit, the new rules that agents are facing, and how eXp is helping agents navigate these challenges to thrive in the marketplace.

Agents 392

Agents Brokerage Real Estate Tenants 392

Housing Wire

JANUARY 26, 2024

But all of that changed on Thursday, when Whaley’s counsel filed an amended complaint naming 15 brokerages as defendants. The Brokerage Defendants also serve an essential role in the conspiracy by executing the conspiracy’s objectives on the ground,” the complaint states. “In

Brokerage 395

Brokerage Realty Realtors Sellers 395

Housing Wire

APRIL 8, 2024

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

Brokerage 359

Brokerage Real Estate Agent Real Estate Clients 359

Housing Wire

OCTOBER 11, 2024

Brokerages are scrambling to adapt to the post-settlement landscape of real estate, and more of them are turning to the same method for growing their headcount — acquiring new teams. The addition of teams is an efficient way for major brokerages to bolster agent counts and boost sales volumes on their income statements.

Real Estate 422

Real Estate Brokerage Legal Agents 422

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

Brokerage 433

Brokerage Real Estate Realtors Legal 433

Housing Wire

SEPTEMBER 18, 2024

You have to follow the law, but if it’s legal, you can do it,” Pfaff said. “We While no legal statute presently outlaws these practices, the MLSs might be engaging in a game of chicken with the Department of Justice (DOJ) and the law firms that have won or settled commission lawsuits against NAR and several major brokerages.

Legal 464

Legal Realtors Agents Brokerage 464

Housing Wire

AUGUST 19, 2024

But even though O’Koniewski and her agents have spent months preparing for these changes, she said the date did not come without a sense of trepidation. “I Not that individual agents might be struggling or running into things, but I haven’t seen or heard any horror stories or anything awful yet.” I know quite a few agents it hurt.

Agents 464

Agents Sellers Realty Buyers 464

Appraisal Buzz

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer, according to a new analysis of MLS data by Redfin —down from an average of 2.62% reported in January. In dollar terms, the average commission paid to a buyer’s agent in the U.S. The typical U.S. is $15,377, up slightly from $15,124 in January.

Agents 397

Agents Sellers Brokerage Real Estate Agent 397

Housing Wire

APRIL 22, 2024

Photo Credit: AJ Canaria) Between inflation , an uncertain interest rate environment and legal challenges , the real estate industry is facing unprecedented challenges. In fact, the sweet spot for acquisitions over the next couple of years is going to be the small one-office brokerage firms.”

Brokerage 377

Brokerage Real Estate Agents Sellers 377

Housing Wire

FEBRUARY 14, 2024

The power of branding in real estate In the real estate world, there’s a prevailing belief that “You are the brand” as an agent. While you can develop name recognition over time, I believe that naming your team or brokerage something other than the leader’s name allows more opportunity for scale and differentiation.

Real Estate Agent 451

Real Estate Agent Real Estate Agents Brokerage 451

Housing Wire

OCTOBER 8, 2024

But as many as 200 real estate agents , brokerage firms and landlords are alleged to have violated this law by discriminating against applicants with federally subsidized Section 8 Housing Choice Vouchers, according to an undercover investigation conducted by the Housing Rights Initiative (HRI).

Brokerage 447

Brokerage Landlords Law Realty 447

Housing Wire

JULY 16, 2024

Dallas-based United Real Estate has joined the cohort of brokerage defendants who have settled the commission lawsuits. The brokerage said it has also agreed to adhere to certain business practice changes, which are not being disclosed at this time. As part of the settlement, United will pay $3.7 million into a settlement fund.

Real Estate 411

Real Estate Legal Fees Legal Brokerage 411

Housing Wire

AUGUST 1, 2024

Under the terms of the settlement, agents will no longer be allowed to share their seller’s offers of buyer broker compensation on an MLS. Training on forms has been a central focus of brokerages across the country. And the agents are scared,” Lamacchia said. Like the athletes in Paris, Realtors and brokers across the U.S.

Real Estate Agent 405

Real Estate Agent Real Estate Agents Business 405

Housing Wire

AUGUST 5, 2024

While brokers across the country agree that they and their agents will no longer be advertising an offer of buyer broker compensation for any listing on the MLS, that is where the similarities end, as it seems each broker is taking a slightly different tact. Another national firm taking a similar route to Side is The Real Brokerage.

Sellers 448

Sellers Buyers Agents Advertising 448

Housing Wire

MARCH 18, 2024

In the 24 hours after news broke of the National Association of Realtors’ (NAR) settlement agreement in the commission lawsuits , Doug Danzey, the leader of the eXp Realty -brokered teamerage The Cobalt Group , said the most pervasive emotion among his agents has been panic. “I

Brokerage 422

Brokerage Real Estate Agents Sellers 422

Housing Wire

MARCH 25, 2024

During a virtual open house hosted by Keller Williams to answer agent and broker questions about the settlements in the commission lawsuits , the overwhelming message was for real estate professionals to focus on what they can control. Cooperative compensation is still legal,” Papasan stressed. Don’t panic.

Agents 414

Agents Advertising Real Estate Sellers 414

Housing Wire

MARCH 8, 2024

If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. JND Legal Administration is in charge of distributing the mailers, emails and press releases. Millions are expected to be sent out across America. “If

Agents 412

Agents Legal Realtors Clients 412

Housing Wire

DECEMBER 26, 2024

The legal department at eXp Realty and parent company eXp World Holdings is not getting any rest over the holidays. In his filing, Ammann claims that eXp publicly advertises that its agent s may not act as contractors providing home repair or renovation services on properties they represent, as doing so would be a conflict of interest.

Renovations 344

Renovations Legal Realty Advertising 344

Housing Wire

MAY 9, 2024

In addition to RE/MAX, Anywhere and Keller Williams, NAR, Douglas Elliman , Realty One Group , At World Properties, Compass , HomeServices of America and The Real Brokerage, have also reached settlement agreements. As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 26, 2024.

Brokerage 393

Brokerage Realty Sellers Real Estate 393