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. AF Realty Group is the smallest of the new defendants with just 15 agents, according to the complaint.

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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

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.

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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.

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Brokerage Real Estate Agents Clients 459

Housing Wire

AUGUST 18, 2023

The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023. The self-reported list ranks U.S. 186 spot on the Inc.

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Housing Wire

AUGUST 30, 2023

Fast-growing firm The Real Brokerage is welcoming yet another top-performing agent to the company. Arizona-based David Newman and his 12-member team, David Newman Partners, are moving to The Real Brokerage, according to an announcement on Wednesday. He and his team were most recently brokered at Hague Realty in Scottsdale.

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Brokerage Realty Agents Technology 418

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

MAY 2, 2024

Real estate brokerage William Raveis has returned to the acquisitions business. On Thursday, the family-owned firm announced that it had acquired South Carolina -based Carson Realty. Founded in 2006, Carson Realty serves clients in the South Carolina markets of Hilton Head, Bluffton and Lake Keowee.

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Realty Insurance Brokerage Clients 450

Housing Wire

SEPTEMBER 19, 2023

The Real Brokerage continues to add to its agent count. Led by Carrie Théard and Sean Hettich, District South’s 40 agents serve home buyers and sellers in Louisiana’s Acadiana region. Hettich got his start in real estate at a large national brokerage, while Théard has a successful career as an agent at a small local boutique firm. “By

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Brokerage Agents Real Estate Realty 459

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

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.”

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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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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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Housing Wire

SEPTEMBER 28, 2023

The allure of the name recognition of large national brands is causing many independent brokerages to affiliate as mortgage rates rise and housing inventory remains low. Ocala, Florida -based Foxfire Realty is the latest firm to join a national brand, announcing its move to RE/MAX on Wednesday.

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Brokerage Technology Agents Training 435

Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. Hence, Splitero Homes will primarily serve sellers of homes that are already clients of Splitero Funding , the home equity investment business. Our brokerage is unique,” Michael Gifford told HousingWire. “It’s

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Brokerage Real Estate Investing Sellers 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. and the Plaintiffs.”

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Brokerage Realty Sellers Real Estate 397

Housing Wire

AUGUST 6, 2024

At the start of 2024, CEO Leo Pareja did not think eXp Realty would find itself in the real estate forms business, but eight months into this year, things look a little different. 17 implementation deadline for these changes, brokerages like eXp are finding themselves sorting out their forms. In response, eXp has created six forms.

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Brokerage Realtors Agents Real Estate 448

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. It named UtahRealEstate.com , the National Association of Realtors (NAR), Anywhere Real Estate , Keller Williams Realty , HomeServices of America and RE/MAX as defendants.

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Brokerage Sellers Realty Realtors 434

Housing Wire

OCTOBER 15, 2024

This has felt a lot more like Y2K versus some other stuff that we were warned about but were not prepared for, which is what I wanted,” said Leo Pareja , the CEO of eXp Realty. “My This is especially true when various MLSs, brokerages and agents are taking their own approaches to dealing with the business practice changes.

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Real Estate Brokerage Sellers Agents 448

Inman

NOVEMBER 19, 2024

The deal will refund buyers and sellers after the brokerage allegedly failed to disclose to its clients that it had received payments from Home Security of America to advertise HSA's home warranties.

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Advertising Realty Brokerage Sellers 173

Housing Wire

OCTOBER 21, 2024

On Friday, the National Association of Realtors (NAR), Anywhere Real Estate , Keller Williams Realty , HomeServices of America and RE/MAX filed motions to dismiss the suit, which was originally filed in mid-August in U.S. In the suit, Homie claims it was harmed by the anticompetitive practices of NAR and the brokerage defendants.

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Brokerage Real Estate Agent Real Estate Sellers 448

Inman

JULY 22, 2024

After four years at eXp Realty, Michael Valdes is moving to LPT Realty. the Florida-based brokerage is ready to expand internationally, executives told Inman. After surpassing 10,000 agents in the U.S.,

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Realty Brokerage Agents Sellers 187

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

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Defendants in the lawsuit include the Florida Association of Realtors , the nation’s largest state Realtor group with 238,000 members, and 16 large local brokerages, with agent counts ranging from 655 to nearly 4,000. 4, 2019 and the present.

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Realty Realtors Brokerage Real Estate 459

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

AUGUST 19, 2024

According to real estate professionals, the biggest adjustments they had to make this week was to get buyers to sign buyer representation agreements and to explain to sellers that while they don’t have to offer buyer broker compensation , they will most likely see most prospective buyers ask for some help in paying their agent.

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Agents Sellers Realty Buyers 476

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.

Brokerage 448

Brokerage Real Estate Agents Sellers 448

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

JANUARY 16, 2024

In an amended complaint filed on Friday, the plaintiffs’ counsel named Vanguard Properties , Twin Oaks Real Estate , Windermere Real Estate Services Company , Rapisdara & Fox and Realty One Group , as additional defendants in the antitrust suit. 8, 2019, and the present.

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Brokerage Realtors Realty Real Estate 475

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

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

OCTOBER 21, 2024

Prior to the implementation of the current CCP in May 2020, listing brokers had two business days from the signing of the listing contract to either enter the listing into the MLS as “active” or submit a listing exclusion form, which had to be authorized by the seller, to the MLS. This is known as the policy’s Office Exclusive exception.

Brokerage 448

Brokerage Real Estate Sellers Agents 448

Inman

JULY 31, 2024

A new draft seller contract that eXp Realty is distributing to its brokers and agents is largely consistent with a newly issued set of criteria from the Consumer Federation of America, the watchdog group said this week.

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Contracts Sellers Realty Agents 183

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.

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Buyers Brokerage Agents Sellers 459

Housing Wire

NOVEMBER 26, 2024

District Court in Kansas City, Missouri, on Tuesday granted final approval to NAR’s commission lawsuit settlement agreement , as well as the settlements reached by HomeServices of America and the numerous MLSs and brokerages that chose to opt into NAR’s settlement. million) , The Real Brokerage ($9.25 million into the settlement fund.

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Brokerage Realtors Buyers Real Estate 397

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.

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Agents Brokerage Real Estate Tenants 435

Housing Wire

FEBRUARY 2, 2024

Real estate brokerage eXp Realty has entered into an affiliated business agreement with Orlando, Florida -based title fi r m Citrus Closing Group , according to an announcement on Thursday. “We In 2023, the brokerage entered into an agreement with Virginia-based title firm Lares Title.

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