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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Brokerage Realtors Real Estate Buyers 448

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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Brokerage Agents Realtors Real Estate 459

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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Realtors Inventory Agents Clients 435

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

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

Sellers 468

Sellers Buyers Agents Advertising 468

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.

Realtors 435

Realtors Real Estate Brokerage Agents 435

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.

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Sellers Agents Real Estate Brokerage 459

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 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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Sellers Agents Real Estate Buyers 482

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

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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Realtors Brokerage Real Estate Realty 533

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.

Brokerage 397

Brokerage Real Estate Agent Real Estate Clients 397

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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Realtors Real Estate Housing Market Clients 370

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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Brokerage Agents Real Estate Real Estate Agent 468

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

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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Sellers Real Estate Agents Buyers 493

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

JUNE 28, 2024

The remaining brokerage defendants in the Batton 2 homebuyer commission lawsuit filed a joint motion to dismiss the suit last week. In addition to the joint motion to dismiss, United Real Estate and Weichert Realtors filed motions to dismiss due to lack of jurisdiction.

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Brokerage Realtors Law Real Estate 392

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

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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Agents Brokerage Real Estate Agent Real Estate 468

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 Realtors Realty Brokerage 468

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.

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Brokerage Real Estate Realtors Sellers 344

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

Brokerage 448

Brokerage Agents Sellers Buyers 448

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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Sellers Buyers Agents Advertising 397

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.

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Brokerage Realtors Realty Real Estate 475

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

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.”

Realtors 468

Realtors Law Agents Real Estate 468

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

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.

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Business Sellers Realtors Buyers 468

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 Sellers Agents Real Estate 321

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.

Real Estate 448

Real Estate Brokerage Sellers Agents 448

Housing Wire

SEPTEMBER 10, 2024

We looked at pricing, design quality, ease of use, lead generation features, and then combed online reviews to get feedback from other working Realtors. With competition for online leads heating up, we think AgentFire’s brand-first approach can be a game changer for brand-conscious agents, teams and even boutique brokerages.

Real Estate Agent 448

Real Estate Agent Real Estate Brokerage Agents 448

Housing Wire

FEBRUARY 21, 2024

The residential brokerage was dismissed this week from one of the early real estate commission lawsuits , known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. Wood wrote on Tuesday that home sellers were “better suited to seek injunctive relief.” Judge Andrea Wood of the U.S.

Realtors 435

Realtors Brokerage Real Estate Law 435

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

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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Realty Realtors Brokerage Real Estate 459

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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Realty Realtors Real Estate Real Estate Agent 488

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 448