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 explained how he would approach a seller in the new market.

Sellers 381

Sellers Real Estate Buyers Legal Fees 381

Housing Wire

MARCH 14, 2024

Like the Department of Justice , the Federal Reserve has decided to weigh in on the real estate agent commission debate. Legal experts told HousingWire that it is rare to see the Fed offer an opinion about an ongoing legal debate, as it typically does not want viewed as an influence on court decisions. housing market.

Agents 389

Agents Legal Real Estate Agent Buyers 389

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

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

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions. who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec.

Sellers 408

Sellers Brokerage Real Estate Realtors 408

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

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.

Agents 397

Agents Sellers Brokerage Real Estate Agent 397

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

MARCH 8, 2024

The mailers are titled “Notice of Proposed Settlements” and they began hitting the mailboxes of home sellers in mid-February. 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. What do the postcards say?

Agents 412

Agents Legal Realtors Clients 412

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

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. in buyer’s agent compensation, down 0.13% from the average prior to the business practice changes.

Real Estate Agent 446

Real Estate Agent Real Estate Agents Buyers 446

Housing Wire

NOVEMBER 9, 2023

According to Kasper, while the plaintiffs are portraying this outcome as a win for consumers, getting rid of cooperative compensation will only harm homebuyers and sellers. As she has stated previously, NAR plans to appeal the verdict and that Sitzer/Burnett saga is far from over.

Agents 430

Agents Legal Sellers Clients 430

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%.

Clients 453

Clients Agents Buyers Sellers 453

Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

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Business Sellers Realtors Buyers 442

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.

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Finance Buyers Agents Insurance 390

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?”

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Brokerage Agents Sellers Buyers 432

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

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 14, 2025

The on-again-off-again legal battle between Top Agent Network (TAN) and the National Association of Realtors (NAR) is now off. This choice is allegedly removed due to NARs Clear Cooperation Policy , which requires agents to list the property on the MLS within 24 hours of marketing it.

Agents 325

Agents Legal Real Estate Agent Realtors 325

Housing Wire

JULY 30, 2024

At the new Homes.com , we always present the listing agent and only the listing agent on any home for sale on our site. Our philosophy is that the leads on an agent’s listings are theirs and clearly not anyone else’s to pilfer and sell. The most important asset an agent has is their reputation.

Agents 355

Agents Real Estate Agent Real Estate Buyers 355

Housing Wire

MARCH 15, 2024

NAR’s legal counsel approved the settlement agreement early Friday morning. According to NAR, this settlement brings an end to all of the litigation claims brought by home sellers. The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. It has yet to be filed in court.

Legal 540

Legal Agents Realtors Real Property 540

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 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

Housing Wire

AUGUST 9, 2024

In a recent episode of the Real Estate Insiders Unfiltered Podcast, the hosts dive into commission sharing practices for agents, the associated risks and the alternatives ahead of the National Association of Realtors ‘ (NAR) business practice changes that are set to take effect on Aug 17.

Real Estate 390

Real Estate Advertising Legal Agents 390

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

Buyers 398

Buyers Agents Loan Officers Real Estate 398

Housing Wire

OCTOBER 31, 2023

Courthouse that the future of real estate agent commissions could potentially be decided. “I I was an agent for 10 years and I’ve been in management now for the better part of seven years, so the trial is really important to me in terms of what it may mean for the future.” It’s at the Charles Evans Whittaker U.S.

Agents 442

Agents Sellers Buyers Realtors 442

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.

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Realtors Buyers Brokerage Real Estate 482

Housing Wire

JULY 9, 2024

In my circle, I hear this often about real estate agents as well (“They hardly do anything and get 6%!”). In a later article, I will devote pages and vent my spleen at those who thus insult teachers and farmers, but here I will do so in favor of the much maligned real estate agent. Good agents do a lot more than simply show houses.

Real Estate Agent 384

Real Estate Agent Real Estate Agents Training 384

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. For Lamacchia, it is essential that his agents and brokers are able to clearly explain and communicate about the forms they are asking clients to sign. I feel really well supported.”

Real Estate Agent 405

Real Estate Agent Real Estate Agents Business 405

Housing Wire

MAY 3, 2024

17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. In addition, agents and brokers will be required to provide compensation disclosures to sellers. Originally, the trade group had said the practice changes would go into effect in mid-July.

Sellers 466

Sellers Legal Buyers Realtors 466

Housing Wire

JULY 17, 2024

Amongst the most substantial terms of that agreement is a blanket ban on the requirement that agents subscribe to MLSs to offer or accept compensation for their work. It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward.

Real Estate 493

Real Estate Agents Training Buyers 493

Housing Wire

OCTOBER 2, 2024

Top Agent Network (TAN) is not backing down in its antitrust lawsuit against the National Association of Realtors (NAR). This choice is allegedly removed due to NAR’s Clear Cooperation Policy, which requires agents to list the property on the MLS within 24 hours of marketing it.

Agents 351

Agents Realtors Sellers Brokerage 351

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Sellers 446

Sellers Buyers Real Estate Agents 446

Housing Wire

OCTOBER 6, 2023

“We believe this is the right course of action to remove future uncertainty and ongoing legal expense, serving the best interests of the company, our affiliated agents and franchisees, and shareholders, and enabling Anywhere to focus on moving real estate to what’s next.”

Buyers 459

Buyers Brokerage Agents Sellers 459

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.

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Real Estate Buyers Agents Sellers 497

Housing Wire

MARCH 13, 2024

In their motion, the parties wrote that they “dispute the factual and legal arguments made in the DOJ’s Statement of Interest.” Preventing sellers and listing agents from setting buyer-broker commissions would promote greater price competition and innovation in the market for brokers’ services,” the DOJ argued.

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Contracts Legal Sellers Buyers 423