Housing Wire

JUNE 25, 2024

A report released Tuesday by the Consumer Federation of America (CFA) found that the California Association of Realtors’ (CAR) buyer representation and broker compensation agreement is “virtually unreadable.” Additionally, the CFA stated that California Realtors have obtained a copy of the analysis.

Realtors 375

Realtors Buyers Contracts Realty 375

Housing Wire

APRIL 30, 2024

Through the terms of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement Zillow is now getting into buyer representation agreements. Under the terms of NAR’s settlement agreement, agents will have to have a written agreement with a client in order to work with them as a buyer broker.

Buyers 521

Buyers Agents Clients Realtors 521

Housing Wire

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. 28 and July 14 of this year to compare average commission rates paid to a buyer’s agent. The typical U.S.

Agents 439

Agents Buyers Real Estate Agent Sellers 439

Housing Wire

FEBRUARY 27, 2024

At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. You are being accused of not being transparent. “If

Buyers 428

Buyers Agents Real Estate Agent Clients 428

Housing Wire

AUGUST 5, 2024

In less than two weeks , offers of compensation for buyers’ brokers will no longer be permitted on any MLS in the U.S, per the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement. It needs to be seller directed,” Srivatsaa said of offers of buyer broker compensation.

Sellers 448

Sellers Buyers Agents Advertising 448

Housing Wire

MARCH 13, 2024

As recently as five years ago, homeowners insurance was certainly not top of mind for most homebuyers and their real estate agents , but the rapidly rising cost of insurance premiums is changing that. It was just a box to check off,” said Paul Scalone, a San Diego-based Compass agent and the owner of Dignified Insurance Services.

Real Estate Agent 450

Real Estate Agent Insurance Real Estate Agents 450

Housing Wire

APRIL 30, 2024

As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements.

Buyers 480

Buyers Open Houses Sellers Agents 480

Housing Wire

AUGUST 30, 2024

The proposed settlement between the National Association of REALTORS ( NAR ) and class-action litigants has prompted much discussion about a series of practice changes affecting compensation for real estate professionals. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage.

Finance 390

Finance Buyers Agents Insurance 390

Housing Wire

MARCH 22, 2024

There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement. As of Jan. As of Jan.

Buyers 485

Buyers Contracts Real Estate Agents 485

Housing Wire

JUNE 11, 2024

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. Buyers will also be required to sign a representation agreement outlining the amount they will pay their agent for their services.

Buyers 523

Buyers Real Estate Real Estate Agent Brokerage 523

Housing Wire

JULY 10, 2024

In a difficult housing market for Realtors, experience matters — a lot. That’s the conclusion of the 2024 Member Profile poll from the National Association of Realtors (NAR), which shows a sharp divergence in income when comparing more experienced agents to their less experienced colleagues. million per agent in 2022 to $2.5

Realtors 397

Realtors Inventory Agents Clients 397

Housing Wire

NOVEMBER 20, 2024

Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. Of the 73% who said they preferred using agents, 67% believe traditional real estate agents are still the best option and 6% favor discount agents.

Real Estate Agent 471

Real Estate Agent Real Estate Agents Sellers 471

Housing Wire

MARCH 8, 2024

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At as of March 6, 2024. Altos considers any score above 30 to be a seller’s market.

Housing Market 426

Housing Market Buyers Agents Marketing 426

Housing Wire

AUGUST 29, 2024

Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.

Buyers 406

Buyers Realtors Agents Sellers 406

Housing Wire

JULY 30, 2024

The August 17 deadline is looming, and many Realtors are gnashing their teeth over how they can share their seller’s offers of buyer broker compensation while still complying with the terms of the settlement. The listings and information are submitted to the site by listing agents and brokers.

Buyers 440

Buyers Realtors Agents Sellers 440

Housing Wire

OCTOBER 15, 2024

Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.

Construction 431

Construction Buyers Agents Marketing 431

Housing Wire

SEPTEMBER 18, 2023

According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits.

Buyers 505

Buyers Realtors Real Estate Agents 505

Housing Wire

NOVEMBER 1, 2024

So, let’s start with the basics: What is a real estate broker vs. an agent? To answer that, we’ll take a deep dive into the differences between the many types of real estate professionals, including a real estate agent and a real estate broker. Summary What is a real estate agent? What does a real estate agent do?

Real Estate 445

Real Estate Real Estate Agent Agents Brokerage 445

Housing Wire

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. Heading into Aug. which is no longer in effect.

Buyers 428

Buyers Sellers Agents Contracts 428

Housing Wire

JULY 18, 2024

After slamming the California Association of Realtors (CAR) for a draft of its buyer representation agreement, the Consumer Federation of America (CFA) on Tuesday released its proposed criteria for evaluating buyer representation agreements. The criteria are primarily focused on the form and content of the contract.

Buyers 409

Buyers Contracts Realtors Real Estate 409

Housing Wire

NOVEMBER 4, 2024

The arrangement known as cooperative compensation allows sellers to choose to offset the cost of buyers’ agents. By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced. Advocates also argue that buyers will benefit from “reduced home prices.”

Buyers 265

Buyers Sellers Agents Real Estate 265

Housing Wire

JUNE 11, 2024

There is a large gap between how the American public feels about the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement and how real estate professionals feel about them. In contrast, 89% of agents surveyed believe the lawsuits’ allegations lack validity.

Real Estate 437

Real Estate Agents Sellers Real Estate Agent 437

Housing Wire

NOVEMBER 14, 2024

While new social media platforms seem to pop up all the time, Facebook remains a tried-and-true platform for real estate agents to grow their business in a variety of ways. Joining and engaging with groups of fellow Realtors on Facebook should be a key tool in every agent’s toolbox. Join Lab Coat Agents 2.

Real Estate Agent 418

Real Estate Agent Real Estate Agents Realtors 418

Housing Wire

AUGUST 28, 2024

While some in the real estate industry are expecting to see a decline in the number of buyer’s agents as a result of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , others have taken it a step further and are betting their companies on it. Meet the AI real estate agent.

Real Estate Agent 453

Real Estate Agent Real Estate Agents Modernization 453

Appraisal Buzz

OCTOBER 31, 2024

Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. Buyer’s agent commissions have fallen 17 basis points since January 2023, when they averaged 2.51%.

Real Estate Agent 386

Real Estate Agent Real Estate Agents Sellers 386

Housing Wire

JANUARY 26, 2024

“I was sitting on my couch and I saw Michael on CNBC calling us a cartel, saying that we take money that doesn’t belong to us, and I was infuriated at that rhetoric and I was infuriated at what that infers about Realtors,” Lamacchia said. “It It dehumanizes Realtors and turns us into money-making machines.”

Realtors 440

Realtors Law Agents Real Estate 440

Housing Wire

OCTOBER 1, 2024

The role and value of real estate agents has come under scrutiny since the National Association of Realtors (NAR) settled a bevy of antitrust lawsuits related to offers of agent compensation on Realtor-owned multiple listing services (MLSs). But Rayse also plans integration for seller agents sometime in 2025.

Agents 426

Agents Real Estate Agent Brokerage Real Estate 426

Housing Wire

MARCH 25, 2024

On the heels of the $418 million settlement recently announced by the National Association of Realtors (NAR), mortgage trade group Community Home Lenders of America (CHLA) has called on the U.S. Under the current system, the buyer agent’s commission is baked into the price paid for a home.

Agents 460

Agents Real Estate Agent Real Estate Buyers 460

Housing Wire

AUGUST 20, 2024

Keller Williams is doing its best to live up to its reputation as a brokerage firm heavy on agent education. On Monday, the firm announced the launch of an agent resource webpage known as “Buyer and Seller Agent Tools to Thrive.” I really wanted to meet people where they are,” Abrams said. “I

Agents 459

Agents Real Estate Agent Brokerage Real Estate 459

Housing Wire

SEPTEMBER 26, 2024

In the six months since news of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement broke, agent attitudes toward the settlement’s required business practice changes have only slightly improved. The Clever survey also included responses from 1,000 current homeowners and prospective buyers.

Real Estate Agent 446

Real Estate Agent Real Estate Agents Buyers 446

Housing Wire

AUGUST 13, 2024

As more brokerages and agents contemplate moving away from a cooperative compensation model , many are grappling with some tough questions, the most vexing probably being: What do I do if a seller is only willing to contribute part of the buyer broker’s fees, or none at all? You have to make sure you are on the same page.”

Clients 449

Clients Agents Buyers Sellers 449

Housing Wire

MARCH 27, 2024

The National Association of Realtors (NAR) urged the U.S. Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

Buyers 475

Buyers Real Estate Agent Inventory Real Estate 475

Housing Wire

JULY 17, 2024

A newly released episode of the Real Estate Insiders Unfiltered Podcast explores the future state of buyer and seller relationships in the housing market after the National Association of Realtors ‘ (NAR) business practice changes take effect Aug. Zorn stated that he would not offer or accept compensation from an agent.

Sellers 381

Sellers Real Estate Buyers Legal Fees 381

Housing Wire

APRIL 11, 2024

As the real estate industry undergoes a significant shift in its commission structure, a recent Redfin survey reveals a lack of knowledge among homebuyers regarding their agents’ compensation. According to the findings, a significant portion of recent homebuyers remain in the dark about crucial aspects of agent payments.

Agents 427

Agents Real Estate Sellers Buyers 427

Housing Wire

AUGUST 19, 2024

17, 2024 , has come and gone, and the real estate industry is still plugging along, despite the business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement now being implemented nationwide. I know quite a few agents it hurt. The landmark date of Aug.

Agents 464

Agents Sellers Realty Buyers 464

Housing Wire

JULY 12, 2024

The California Association of Realtors (CAR) evidently wants no part of the Department of Justice. The DOJ expressed concerns about possible loopholes the forms might contain, which could allow agents to skirt new rules implemented as part of the National Association of Realtors’ (NAR) antitrust settlement.

Realtors 398

Realtors Legal Agents Law 398

Housing Wire

OCTOBER 16, 2023

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 479

Buyers Brokerage Agents Realtors 479