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

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 488

Buyers Open Houses Sellers Agents 488

Housing Wire

JANUARY 26, 2024

When the copycat commission suit was initially filed in early January by Nevada home seller Nathaniel Whaley, the complaint named just Realtor associations and MLSs as defendants, making it stand out from the spate of other commission suits.

Brokerage 459

Brokerage Realty Realtors Sellers 459

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

JANUARY 2, 2024

Umpa sold his Ohio home with Redfin and his Maryland home with Compass , and the suit states that he “paid a substantial buyer-broker compensation,” in both transactions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e., The lawsuit is seeking class action status for everyone in the U.S.

Sellers 448

Sellers Brokerage Real Estate Realtors 448

Housing Wire

JANUARY 8, 2025

The Real Brokerage is a already a top 10 company in terms of transaction volume and sides and it continued its growth this week in two of the nation’s most populous states. Miami -based Real on Tuesday announced the addition of Harvest Realty , an independent brokerage in Southern California with 550 agents. billion.

Brokerage 397

Brokerage Real Estate Realty Clients 397

Housing Wire

MARCH 27, 2024

Brokerages took notice, resulting in a surge in companies and office locations competing for their share of listings, according to CoreLogic multiple-listing service data shared exclusively with HousingWire. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

Brokerage 476

Brokerage Realty Real Estate Inventory 476

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. The VA said it will develop a more permanent policy “as the real estate brokerage market restabilizes and new practices take hold.”

Buyers 523

Buyers Real Estate Real Estate Agent Brokerage 523

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. That is highly unlikely.

Sellers 493

Sellers Real Estate Agents Buyers 493

Housing Wire

AUGUST 21, 2024

For Linda O’Koniewski , the broker-owner of Leading Edge Real Estate , one of the largest hiccups so far was when one of her agents brought a buyer offer that included concessions to a seller. The seller basically told them to drop dead,” O’Koniewski said. “So, This allows them to keep their net but lower the price.

Sellers 482

Sellers Agents Real Estate Buyers 482

Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78

Brokerage 545

Brokerage Realtors Sellers Buyers 545

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. Anywhere will eliminate any minimum client commission requirements that company owned brokerages may have.

Buyers 459

Buyers Brokerage Agents Sellers 459

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

APRIL 24, 2024

Photo credit: AJ Canaria Hilary Saunders , the co-founder and chief broker officer at Side , sees the current challenges facing the real estate industry as yet another opportunity for brokerage models to further evolve. “I The brokerage models have to adapt,” Saunders said.

Brokerage 448

Brokerage Legal Fees Real Estate Agents 448

Housing Wire

OCTOBER 19, 2023

1, REBNY rules will prevent the listing brokers from paying buyer agents and instead will require sellers to pay commissions directly. The rule will require listing agreements to clearly outline the seller’s offer of compensation to the buyer’s agent. Starting Jan.

Sellers 459

Sellers Agents Real Estate Brokerage 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.

Real Estate 497

Real Estate Buyers Agents Sellers 497

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. Peter Voss at 3% Listing Co. is wondering what took them all so long to make the switch.

Brokerage 448

Brokerage Agents Sellers Buyers 448

Housing Wire

AUGUST 7, 2024

The motions filed by Compass , eXp World Holdings , Redfin , Weichert Realtors and United Real Estate claim that the homebuyer plaintiffs are simply trying “to parrot the allegations they made in an amended complaint,” which was filed in the Batton 1 suit that consists of the same plaintiffs but a different group of brokerage defendants.

Brokerage 448

Brokerage Realtors Real Estate Buyers 448

Housing Wire

OCTOBER 31, 2024

The family-owned brokerage firm announced the completion of two acquisitions on Wednesday. The merger combines the strengths of both companies, allowing us to better support agents, buyers, and sellers in the Dayton area while enhancing our leadership in the market.” The financial terms of the deals are not being disclosed.

Brokerage 434

Brokerage Realty Real Estate Agents 434

Housing Wire

JULY 24, 2024

Real estate companies are using artificial intelligence (AI) to improve agent productivity, which they believe will be even more necessary due to changes to their commission structure — mainly on the buyer’s side. ” “This is just the beginning,” Heriyanto said.

Agents 468

Agents Brokerage Real Estate Agent Real Estate 468

Housing Wire

SEPTEMBER 3, 2024

As it became clear that many real estate professionals are in need of guidance, brokerages and industry leaders have launched a variety of educational resources and training courses for agents and brokers. 17, the firm launched an agent resource webpage known as “Buyer and Seller Agent Tools to Thrive.”

Brokerage 468

Brokerage Agents Real Estate Real Estate Agent 468

Housing Wire

MARCH 22, 2024

I’m sharing a transformative announcement with you today, one that marks a new era for RealTrends and propels forward the vision of bringing transparency to what it means to be a top-performing real estate brokerage, team or agent. Your home sellers and buyers research you online. You market your brand and business online.

Brokerage 448

Brokerage Real Estate Agents Sellers 448

Housing Wire

JUNE 18, 2024

Invariably, these same articles classify all real estate brokerages and models as identical. Perhaps there are internal policies within some of the companies that are standardized, but the categorization of all brokerages as identical showcases the ignorance of the author. That’s a 20% reduction in revenue for the brokerage.

Brokerage 459

Brokerage Real Estate Agents Clients 459

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 448

Buyers Realtors Agents Sellers 448

Housing Wire

APRIL 22, 2024

In fact, the sweet spot for acquisitions over the next couple of years is going to be the small one-office brokerage firms.” With the headwinds facing the real estate industry, Wright and Murray believe smaller brokerage firms will be looking for a place to land, making acquisitions a possibility for even one-office, 25 agent firms.

Brokerage 467

Brokerage Real Estate Agents Sellers 467

Housing Wire

DECEMBER 8, 2023

Central to the complaint is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

Brokerage 459

Brokerage Realty Real Estate Agent Real Estate 459

Housing Wire

MARCH 20, 2024

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. Every big brokerage has some of them, but if you think about some of the most productive agents, a lot of them sit on Compass’ platform.

Brokerage 476

Brokerage Agents Realtors Real Estate 476

Housing Wire

OCTOBER 25, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S.

Buyers 448

Buyers Real Estate Realtors Agents 448

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. And as the clock continues to count down to the Aug.

Brokerage 448

Brokerage Realtors Agents Real Estate 448

Housing Wire

SEPTEMBER 18, 2023

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. According to the plaintiffs, commission sharing inflates the costs for consumers, in violation of the Sherman Antitrust Act. In fact, the U.S.

Buyers 505

Buyers Realtors Real Estate Agents 505

Housing Wire

AUGUST 23, 2024

In the newest episode of the RealTrending podcast , host Tracey Velt chats with Ryan Michaelis, chief growth strategist at Worth Clark Realty , about business growth through recruitment, flat-fee models for agents and the effects of the National Association of Realtors ’ (NAR) settlement on buyers and sellers across the industry.

Brokerage 435

Brokerage Property Management Agents Real Estate 435

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. “We

Buyers 497

Buyers Contracts Real Estate Agents 497

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. We knew there had to be an efficient way of handling this sort of communication.” From this, HomeKick was born.

Buyers 459

Buyers Realtors Agents Sellers 459

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. ” What’s at stake?

Buyers 482

Buyers Brokerage Agents Realtors 482

Housing Wire

MARCH 18, 2024

Honing new skills With the settlement agreement including terms like a mandatory buyer agency agreement and a ban on displaying offers of cooperative compensation via listings on the MLS, it is understandable that some agents would like more guidance from NAR on what these terms will look like in practice. “It More off-MLS listings?

Brokerage 448

Brokerage Real Estate Agents Sellers 448

Housing Wire

MARCH 22, 2024

With low housing inventory nationwide, agents are using innovative ways to find real estate seller leads and convert them into listings. To help you snag more listings, we updated our list of proven strategies to win more real estate seller leads in 2024. If you want a shot at generating seller leads online, you need one, too.

Real Estate 448

Real Estate Sellers Real Estate Agent Tools 448

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%. One of the researchers, Will Fried, had a hunch.

Clients 459

Clients Agents Buyers Sellers 459