Brokerage, Realtors and Sellers - Property Appraisal Zone

Buyers still expect sellers to cover agent compensation

Housing Wire

SEPTEMBER 27, 2024

The majority of homebuyers are still expecting sellers to cover their agent’s compensation, according to The Real Brokerage ’s August 2024 agent survey. While it appears that most sellers are still offering some level of compensation, 12% of agents reported they were still unsure of what the emerging trend will be. 30 and Sept.

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Utah Realtors boycotted Homie listings over 1.5% buyer broker commission: antitrust lawsuit

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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Opinion: Are we facing the end of the Realtor marketplace?

Housing Wire

SEPTEMBER 18, 2023

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace , which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents.

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Missouri jury finds NAR, brokerages guilty of conspiring to inflate commissions

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

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Nevada plaintiff adds 15 brokerages to commission suit

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.

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Nearly 80% of brokerages won’t be profitable with lower agent commissions: AccountTECH

Housing Wire

JUNE 25, 2024

If real estate brokerages fail to make changes to their operations, 79% of them will be unprofitable if the terms of the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement lead to typical agent commissions dropping to 2%. This is according to a study published Tuesday by AccountTECH.

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Maryland home seller files commission lawsuit in Missouri

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.” The National Association of Realtors will respond to this complaint in court.”

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New Hampshire Association of Realtors partners with HousingWire

Housing Wire

APRIL 1, 2024

HousingWire has partnered with New Hampshire Association of Realtors (NHAR) to bring original data, analytics and news to its members who are the voice for real estate in the state. Our strategy is simple – be the independent source of information housing leaders seek first, and trust the most,” Clayton Collins, HousingWire CEO, said. “By

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Which brokerages will thrive in a post-NAR settlement world?

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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REBNY to require sellers to directly pay buyer’s agent

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

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How will listing agents share seller offers of buyer broker compensation off the MLS?

Housing Wire

AUGUST 5, 2024

per the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement. 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. There is nuance on a per-state basis,” the president of Side said. “At

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Incomes are rising for experienced Realtors but falling for younger ones

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

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More local brokerages added to Georgia commission lawsuit defendant list

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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To write or not to write: Some brokerages draft their own forms while others leave it to state associations

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.

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Plaintiffs respond to brokerage defendants’ motions to dismiss Batton 2 suit

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.

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Opinion: No benefit to home sellers is worth sacrificing first-time homebuyers

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. Last year, mortgage rates increased from 3% to 8% and home prices still increased in most markets.

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California commission suit alleges collusion in the City of Angels

Housing Wire

JANUARY 18, 2024

The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. It was filed on Wednesday in U.S.

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Leveling up together: Brokerages offer industrywide agent education opportunities

Housing Wire

SEPTEMBER 3, 2024

17, 2024 — the date that the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement went into effect — served as a reckoning of sorts. “I 17, the firm launched an agent resource webpage known as “Buyer and Seller Agent Tools to Thrive.”

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The Real Brokerage settles Umpa commission lawsuit for $9.25M

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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Nestfully adds BeachesMLS and MIAMI Realtors SEFMLS to its database

Housing Wire

SEPTEMBER 19, 2023

BeachesMLS ’ and MIAMI REALTORS SEFMLS , South Florida ’s two largest Multiple Listing Services (MLSs), have begun providing complete listing data to Nestfully , a public search portal sourced directly from the MLS, the company announced last Wednesday. If added together, Nestfully’s five MLSs have 343,000+ agent and brokerage subscribers.

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Buyers & Sellers Respond to Recent NAR Reforms

Appraisal Buzz

SEPTEMBER 9, 2024

Redfin has reported that following revisions to industry rules required by the National Association of Realtors lawsuit settlement , commission negotiations have grown more regular in certain markets and at higher price points. I recently had a seller decide to offer 1.5%. That will likely drive fees down over time.”

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Agents are freaking out over de-coupled commissions. It’s old hat for this Iowa brokerage owner

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. Voss founded the Iowa-based 3% Listing Co. Voss said. “I

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Brokerage Agents Sellers Buyers

Agents are prepping sellers for a greater variety of offers

Housing Wire

AUGUST 21, 2024

While there have not been any “ horror stories ” in the first few days since business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement were implemented, that doesn’t mean it has been completely smooth sailing for real estate professionals.

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eXp Realty’s forms leave the choice to offer buyer broker compensation to sellers: Pareja

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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Worth Clark’s Ryan Michaelis talks recruitment strategy and brokerage growth

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.

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Zillow victorious in false advertising suit with discount brokerage

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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Nevada real estate firms hit with second commission lawsuit

Housing Wire

FEBRUARY 16, 2024

A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. District Court in Las Vegas by Nevada home seller Angela Boykin. The copycat commission lawsuit was filed on Friday in U.S. 16, 2020, and the present.

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Real estate leaders emerge from chaos with confidence

Housing Wire

OCTOBER 15, 2024

(Image generated by AI in Midjourney) It has been nearly two months since the nationwide implementation of the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement. As Sharran Srivatsaa , the president of The Real Brokerage , sees it, there are two primary agent camps right now.

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Real Estate Brokerage Sellers Agents

Chuck E. Cheese, MLS listing books and the correct pronunciation of ‘Realtor’ were on the table during HousingWire’s commission lawsuit debate

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.”

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No robots anytime soon: These brokerages don’t think AI will replace agents

Housing Wire

JULY 24, 2024

But despite these tech advancements, they don’t see a scenario in which “robots” will soon take buyers and sellers through the homeownership journey. According to Heriyanto, it’s not just about “filling it with flowery language, but it’s also from an SEO perspective on Google.”

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New objection to NAR settlement targets business practice changes, plaintiffs’ attorneys fees

Housing Wire

OCTOBER 28, 2024

After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. In a document filed on Monday in U.S.

Business

Business Sellers Realtors Buyers

Judge approves brokerage commission lawsuit settlement agreements

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.

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Brokerage Realty Sellers Real Estate

HousingWire partners with Columbus Realtors to deliver essential industry news and insights to members

Housing Wire

JANUARY 7, 2025

HousingWire, the leading source for housing market news and information, announced its partnership with Columbus Realtors, the largest city-based Realtor association in Ohio. Columbus Realtors aims to be the leading voice of real estate in central Ohio.

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Five local brokerages replace Anywhere affiliates in Pennsylvania commission lawsuit

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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9 innovative strategies to get more real estate seller leads in 2024

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.

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Commission lawsuit is filed in Arizona. But NAR isn’t the target

Housing Wire

JANUARY 9, 2024

District Court in Arizona, Joseph Masiello, an Arizona resident and home seller, accuses several real estate companies of colluding to artificially inflate real estate agent commissions. According to the filing, Masiello was “required to pay a 2% commission ($8,200) to the seller broker and a 2.5% 5, 2020, and the present.

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Copycat commission lawsuits filed in Florida, Pennsylvania

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS.

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Northwest MLS criticizes $418M NAR settlement agreement, opts out

Housing Wire

MAY 29, 2024

Northwest MLS , the largest multiple listing service in the Pacific Northwest, will not take part in the $418 million agreement reached by the National Association of Realtors (NAR) in the Sitzer/Burnett case. Secret deals’ The NWMLS board of directors made the decision to opt out at its most recent meeting, the organization said Tuesday.

Sellers

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Real estate brokerages notch procedural victory in commission case

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

Brokerage Real Estate Realtors Sellers

Why Homie shows alternative models matter in real estate

Housing Wire

JUNE 4, 2024

The recent announcement of Homie’s decision to strip its brokerage services and end employment for its real estate agents has once again brought the discussion of alternative models in real estate to the forefront. I pondered how they could offer the assistance that buyers and sellers required at such competitive rates.

Real Estate

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47 Texas real estate firms, associations get hit with second commission lawsuit

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. As the saying goes, everything is bigger in Texas.

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Five additional brokerages named in California’s commission lawsuit

Housing Wire

JANUARY 16, 2024

Additionally, the plaintiffs are demanding a jury trial, damages, a permanent injunction barring the defendants from requiring sellers pay the buyer broker, and “restitution and restitutionary disgorgement of all monies wrongfully obtained from Plaintiff and the Class by Defendants.” 8, 2019, and the present.

Brokerage

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Panic! at the brokerage: Industry leaders plan next steps after NAR settlement

Housing Wire

MARCH 18, 2024

In the 24 hours after news broke of the National Association of Realtors’ (NAR) settlement agreement in the commission lawsuits , Doug Danzey, the leader of the eXp Realty -brokered teamerage The Cobalt Group , said the most pervasive emotion among his agents has been panic. “I More off-MLS listings? It is really going to go backwards.

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Brokerage Real Estate Agents Sellers

How will first-time buyers fare if sellers can’t offer buyer agent compensation?

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. Lowering commissions will not cause sellers to reduce their prices.

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Buyers still expect sellers to cover agent compensation

Utah Realtors boycotted Homie listings over 1.5% buyer broker commission: antitrust lawsuit

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Trending Sources

Opinion: Are we facing the end of the Realtor marketplace?

Webinars

Missouri jury finds NAR, brokerages guilty of conspiring to inflate commissions

Nevada plaintiff adds 15 brokerages to commission suit

Nearly 80% of brokerages won’t be profitable with lower agent commissions: AccountTECH

Maryland home seller files commission lawsuit in Missouri

New Hampshire Association of Realtors partners with HousingWire

Which brokerages will thrive in a post-NAR settlement world?

REBNY to require sellers to directly pay buyer’s agent

How will listing agents share seller offers of buyer broker compensation off the MLS?

Incomes are rising for experienced Realtors but falling for younger ones

More local brokerages added to Georgia commission lawsuit defendant list

To write or not to write: Some brokerages draft their own forms while others leave it to state associations

Plaintiffs respond to brokerage defendants’ motions to dismiss Batton 2 suit

Opinion: No benefit to home sellers is worth sacrificing first-time homebuyers

California commission suit alleges collusion in the City of Angels

Leveling up together: Brokerages offer industrywide agent education opportunities

The Real Brokerage settles Umpa commission lawsuit for $9.25M

Nestfully adds BeachesMLS and MIAMI Realtors SEFMLS to its database

Buyers & Sellers Respond to Recent NAR Reforms

Agents are freaking out over de-coupled commissions. It’s old hat for this Iowa brokerage owner

Agents are prepping sellers for a greater variety of offers

eXp Realty’s forms leave the choice to offer buyer broker compensation to sellers: Pareja

Worth Clark’s Ryan Michaelis talks recruitment strategy and brokerage growth

Zillow victorious in false advertising suit with discount brokerage

Nevada real estate firms hit with second commission lawsuit

Real estate leaders emerge from chaos with confidence

Chuck E. Cheese, MLS listing books and the correct pronunciation of ‘Realtor’ were on the table during HousingWire’s commission lawsuit debate

No robots anytime soon: These brokerages don’t think AI will replace agents

New objection to NAR settlement targets business practice changes, plaintiffs’ attorneys fees

Judge approves brokerage commission lawsuit settlement agreements

HousingWire partners with Columbus Realtors to deliver essential industry news and insights to members

Five local brokerages replace Anywhere affiliates in Pennsylvania commission lawsuit

9 innovative strategies to get more real estate seller leads in 2024

Commission lawsuit is filed in Arizona. But NAR isn’t the target

Copycat commission lawsuits filed in Florida, Pennsylvania

Northwest MLS criticizes $418M NAR settlement agreement, opts out

Real estate brokerages notch procedural victory in commission case

Why Homie shows alternative models matter in real estate

47 Texas real estate firms, associations get hit with second commission lawsuit

Five additional brokerages named in California’s commission lawsuit

Panic! at the brokerage: Industry leaders plan next steps after NAR settlement

How will first-time buyers fare if sellers can’t offer buyer agent compensation?

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