Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. NAR has also advocated for the VA to change its rule around buyer broker compensation.

Buyers 523

Buyers Agents Real Estate Agent Real Estate 523

Housing Wire

AUGUST 1, 2024

As brokerage firms fine tune how to handle the business practice changes outlined in the terms of the National Association of Realtors’ nationwide commission lawsuit settlement agreement , which are set to go into effect on August 17 , many are focusing on how their agents will handle compensation on both the buy-side and the sell-side.

Sellers 436

Sellers Buyers Agents Law 436

Housing Wire

NOVEMBER 4, 2024

As real estate practitioners adjust to the practice changes that took effect in August, and the industry waits for final approval of the NAR settlement from the court in November, questions continue about seller offers of compensation. In a bidding war, cash buyers and investors will win, and first-time buyers will lose.

Buyers 265

Buyers Sellers Agents Real Estate 265

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

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

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. Buyers are picky and they don’t want to pay a dollar more than they need to,” the report said. According to the brokerage, 6.5% the month prior.

Sellers 508

Sellers Buyers Real Estate Agent Inventory 508

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

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. But this is much easier said than done.

Finance 390

Finance Buyers Agents Insurance 390

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

Real Estate 497

Real Estate Buyers Agents Sellers 497

Housing Wire

OCTOBER 3, 2024

Conrad discusses best practices for transparent conversations between listing agents and sellers, the value of educating sellers on the new buyer agent compensation agreements , and ways to show your value as a professional agent. She also explores JPAR’s agent training and resource efforts.

Sellers 370

Sellers Agents Training Clients 370

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 1, 2024

The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers. The DOJ believes that by eliminating it, affordability will improve for all.

Sellers 471

Sellers Real Estate Agents Buyers 471

Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business.

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 30, 2024

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. One such change outlined in the settlement is the banning of offers of buyer broker compensation from the MLS. Additionally, CAR’s updated RLA form does not include any references to seller concessions.

Sellers 406

Sellers Advertising Realtors Agents 406

Housing Wire

JUNE 11, 2024

According to a survey published by Clever Real Estate , 67% of the general public supports the changes, while 70% of real estate agents oppose them. But 70% of agents have reportedly fielded questions from current clients about the NAR settlement and its impact on commissions.

Real Estate 437

Real Estate Agents Sellers Real Estate Agent 437

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

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

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

AUGUST 22, 2024

In a lawsuit filed Thursday, real estate startup Homie Technologies claims that home seller consumers were not the only ones harmed by the real estate industry’s allegedly anticompetitive practices. Buyers using Homie would receive some or all of any BAC offered by the seller,” the complaint states.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

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

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.

Agents 473

Agents Real Estate Agent Real Estate Sellers 473

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

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

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

SEPTEMBER 9, 2024

The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.

Agents 409

Agents Marketing Sellers Buyers 409

Housing Wire

AUGUST 14, 2024

Ralph Harvey , Jason Saphire and Ben Caballero are three of the most prolific agents in America. But these listing-only agents are still having to adjust their practices to conform with the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement that goes into effect on Saturday. “We

Agents 399

Agents Sellers Buyers Contracts 399

Housing Wire

AUGUST 12, 2024

Despite the firm’s name Voss says the brokerage works with both buyers and sellers, but on the sell-side he and his agents only charge clients for their services. “We I really struggled with that dynamic of why would I, as a seller, want to offer money to somebody who is going to actively try and get me to gain less?”

Brokerage 432

Brokerage Agents Sellers Buyers 432

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. If both agents and consumers anticipate that commissions will decline, that belief could lead to reality, in our view.”

Agents 430

Agents Real Estate Sellers Brokerage 430

Appraisal Buzz

NOVEMBER 22, 2024

Despite challenges in the market, luxury agents can leverage these insights [from the mid-year report] to finish the year strong.” Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles. Among specialists, 32.8%

Buyers 417

Buyers Luxury Properties Marketing Inventory 417

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

MARCH 27, 2024

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. Concerns over the existing VA policies have been echoed among mortgage professionals.

Buyers 475

Buyers Real Estate Agent Inventory Real Estate 475

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

MARCH 13, 2024

In a world enamored with all things digital and AI , one would think that real estate agents don’t serve any purpose, but it’s totally untrue. The centerpiece of this concept is the belief that sellers have the time and the money and are willing to spend the requisite amount of both to market their property effectively.

Real Estate Agent 466

Real Estate Agent Real Estate Agents Sellers 466

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). What we want to do is be able to bring to light everything the agents are actually doing.”

Agents 426

Agents Real Estate Agent Brokerage Real Estate 426

Housing Wire

SEPTEMBER 12, 2024

In fact, Charlotte’s continued growth and relatively limited inventory have intensified the race to secure listings and represent buyers, putting a spotlight on top-performing agents with the ability to deliver results to buyers and sellers alike. In this type of environment, the cream rises to the top.

Real Estate 409

Real Estate Agents Real Estate Agent Sellers 409