Housing Wire

JANUARY 9, 2025

The Hooper commission lawsuit plaintiffs and the brokerage defendants that have reached proposed settlement agreements are looking to make things official. The four brokerages have agreed to business practice changes, as well as total payments of $44.05

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Brokerage Real Estate Sellers Development 418

Housing Wire

OCTOBER 15, 2024

On Friday, the brokerage notified the court that it was voluntarily dismissing Wasatch Front Regional MLS , which does business as UtahRealEstate.com , from the suit. As a flat-fee brokerage, Homie charged sellers a flat fee to list their property on the MLS. UtahRealEstate.com and Homie did not return requests for comment.

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Brokerage Sellers Realty Realtors 434

Housing Wire

OCTOBER 31, 2024

What has changed for real estate brokerages since then? 31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. “I’m Listing agents are only advertising their seller’s offer of buyer broker compensation if the seller instructs them to do so.

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Real Estate Brokerage Agents Training 448

Housing Wire

MARCH 26, 2025

Under what NAR is calling its MLS Listing Options for Sellers policy , sellers will have the option to delay marketing their listing publicly as long as they sign the required disclosure. Our position has never been to dictate brokerage business models, Brian Donnellan, the president and CEO of Bright MLS, wrote in an email.

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Sellers Real Estate Agents Brokerage 366

Housing Wire

JANUARY 2, 2024

The complaint argues that the NAR and the brokerage defendants collude “to impose, implement and enforce anticompetitive restraints that cause home sellers to pay inflated commissions on the sale of their homes, in violation of federal antitrust law.” “Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

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Sellers Brokerage Real Estate Realtors 448

Housing Wire

OCTOBER 29, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. And it is a little bit early, but some of the preliminary data I have looked at show that sellers are continuing to pay buyer agent compensation.” It is no secret that many first-time homebuyers are struggling.

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Marketing Real Estate Sellers Buyers 448

Housing Wire

MARCH 31, 2025

Now, a new website , called Washington Homeowner Rights, is soliciting NWMLS home sellers in Washington state for a potential class action lawsuit. Specifically, they are reaching out to home sellers who experienced a price drop or significant days on market. Northwest MLS has declined to adopt those misguided, exclusionary rules.

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Clients Brokerage Real Estate Sellers 231

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.

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Brokerage Legal Fees Real Estate Agents 448

Housing Wire

DECEMBER 4, 2024

When looking ahead to 2025, the challenges Kelly is anticipating having to prepare for include slow housing market conditions and potential regulatory or legal challenges. We were originally founded with the idea of having anything you need as a buyer or a seller transacting real estate all under one roof.

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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.” My advice is to start simple.

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Brokerage Real Estate Agents Sellers 467

Housing Wire

OCTOBER 2, 2023

Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. In mid-May 2022, REX ceased its brokerage operations. In a verdict announced late Friday afternoon, a jury in a U.S.

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Advertising Brokerage Real Estate Legal 448

Housing Wire

DECEMBER 16, 2024

The family-run brokerage firm recorded some legal w ins and losses , developed new tools for agents and clients , and navigated one of the slowest years for home sales in nearly three decades. This is especially true in markets on the fringes of its footprint, or in areas where brokerage clients are moving to or from.

Real Estate 370

Real Estate Brokerage Agents Buyers 370

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

AUGUST 5, 2024

eXp Realty recently released forms that make it clear it is firmly up to the seller to decide whether or not they will offer buyer broker compensation. Steve Capezza said his firm, white-labeled brokerage Side , is taking a similar approach. Another national firm taking a similar route to Side is The Real Brokerage.

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Sellers Buyers Agents Advertising 468

Housing Wire

OCTOBER 31, 2023

During their testimony, the home seller plaintiffs and their lead attorney Michael Ketchmark argued that despite the defendants having antitrust rules and regulations in place, the trade group and corporate brokerages knowingly violated their own rules in order to maintain high commission rates.

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Brokerage Realtors Sellers Buyers 545

Housing Wire

AUGUST 6, 2024

17 implementation deadline for these changes, brokerages like eXp are finding themselves sorting out their forms. As the largest brokerage in the country by transaction sides in 2023, Pareja said it made sense for eXp to create its own forms. “We So, sellers have a variety of options if they want to pay the buy-side commission.”

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Brokerage Realtors Agents Real Estate 448

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.

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Brokerage Agents Realtors Real Estate 476

Housing Wire

MARCH 19, 2025

At the time of issuing its second CID, the DOJ stated that it believed that the policy restricts home-seller choices and precludes competition from new listing services. without mandated MLS publication of offers of compensation or exceptions benefitting primarily large brokerages) are anticompetitive.

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Realtors Legal Sellers Law 220

Housing Wire

MARCH 31, 2025

Plaintiffs in the combined Gibson/Umpa suit argued that the settlement agreed to by the brokerages in the Hooper suit is a sweetheart deal that’s meant to avoid harsher judgments than they might have received if theyd negotiated their settlements in the Gibson case. . eXp settled for $34 million in October and Weichert for $8.5

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Brokerage Real Estate Realtors Law 333

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.

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Sellers Agents Real Estate Buyers 482

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

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.

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Brokerage Real Estate Agent Real Estate Clients 397

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.

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Sellers Buyers Agents Law 448

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.

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Brokerage Agents Sellers Buyers 448

Housing Wire

DECEMBER 8, 2023

By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs. While this lawsuit is certainly not the only one making collusion allegations against many of the large national brokerages, it has one of the more robust lists of local brokerages as defendants.

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Brokerage Realty Real Estate Agent Real Estate 459

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 Real Estate Brokerage 482

Housing Wire

OCTOBER 10, 2024

While the homebuyer commission lawsuits continue to be a thorn in the side of the real estate industry, three corporate brokerages have at least for now recorded a small win. Additionally, the brokerage defendants note that Mullis filed an appeal of the final approval of the firms’ settlement. On Wednesday, Chicago-based U.S.

Brokerage 344

Brokerage Real Estate Realtors Sellers 344

Housing Wire

JUNE 28, 2024

The remaining brokerage defendants in the Batton 2 homebuyer commission lawsuit filed a joint motion to dismiss the suit last week. This is the second time the remaining defendants have looked to get the case dismissed.

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Brokerage Realtors Law Real Estate 391

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.

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Legal Realtors Agents Brokerage 482

Housing Wire

MAY 9, 2024

Wood, who is overseeing the Batton suit as well as the Moehrl home seller commission lawsuit , said this request was “neither necessary nor appropriate.” As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 million , $55 million and $70 million , respectively. 26, 2024.

Brokerage 397

Brokerage Realty Sellers Real Estate 397

Housing Wire

JANUARY 29, 2024

In an amended complaint filed on Friday, home sellers Danielle and Jessie Kay (who sold a house in Baden, Pennsylvania, in December 2021 with the help of an agent from Realty One Group Gold Standard ) were added as a plaintiff. The addition of the five local brokerages is not the only recent change to the list of defendants.

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Brokerage Realty Real Estate Real Estate Agent 433

Housing Wire

MARCH 18, 2024

Jessica Edgerton , chief legal officer at LeadingRE , was also caught off guard by the timing of everything. “I If the seller is willing to have that discussion, then you and your buyer can see what they would be willing to cover.” You’ll need to make that adjustment and discuss that with your sellers.” More off-MLS listings?

Brokerage 448

Brokerage Real Estate Agents Sellers 448

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. The terms of Anywhere Real Estate ‘s $83.5

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Buyers Brokerage Agents Sellers 459

Housing Wire

JULY 2, 2024

Specifically, the DOJ told NAR executives and Sears that it is closely watching updated forms that are coming out of the state and local Realtor associations, as well as brokerages and MLS, and any potential “loopholes” or “work arounds” agents or firms are exploring to circumvent the business practice changes outlined in NAR’s settlement.

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Legal Real Estate Realtors Sellers 468

Housing Wire

AUGUST 30, 2024

Sitzer’s legal action not only resulted in financial settlements, but also business practice changes that went into effect earlier this month , the most notable of which are the removal of buyer broker compensation from the MLS and mandatory buyer broker agreements. The company claims it saves consumers an average of $15,000 per transaction.

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Real Estate Legal Real Estate Agent Brokerage 459

Housing Wire

DECEMBER 27, 2024

Sellers agents: Listing agents specialize in representing sellers. Team commission splits are typically lower than those of a traditional brokerage for an individual agent. This can be attributed to teams providing additional resources that brokerages dont like a consistent flow of leads, technology and administrative support.

Real Estate 418

Real Estate Tools Agents Real Estate Agent 418

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story.

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Brokerage Agents Real Estate Buyers 488