Housing Wire

AUGUST 5, 2024

In less than two weeks , offers of compensation for buyers’ brokers will no longer be permitted on any MLS in the U.S, per the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement. It needs to be seller directed,” Srivatsaa said of offers of buyer broker compensation. “It

Sellers 461

Sellers Buyers Agents Advertising 461

Housing Wire

NOVEMBER 8, 2024

With Q4 in full swing, many realtors are seeing buyers and sellers paralyzed by high interest rates and stagnant inventories. Shallis, with over three decades of experience in the real estate industry has helped realtors, buyers, and sellers navigate all types of market conditions.

Realtors 362

Realtors Marketing Loan Officers Sellers 362

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.

Sellers 445

Sellers Buyers Agents Law 445

Housing Wire

JULY 30, 2024

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. Initially, CRMLS said it added these fields in preparation to deal with the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement.

Sellers 430

Sellers Advertising Realtors Agents 430

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 427

Buyers Realtors Agents Sellers 427

Housing Wire

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. Heading into Aug. which is no longer in effect.

Buyers 429

Buyers Sellers Agents Contracts 429

Housing Wire

APRIL 15, 2024

The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees. Moving forward, the GSEs say that if these fees continue to be “customarily paid by the property seller according to local convention, they will not be subject to financing concessions limits.”

Buyers 532

Buyers Agents Real Estate Agent Sellers 532

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.

Sellers 444

Sellers Agents Real Estate Buyers 444

Housing Wire

OCTOBER 3, 2024

On the RealTrending podcast produced by HousingWire , host Tracey Velt chats with San Antonio-based Realtor Jessica Conrad in the final installment of JPAR Real Estate ’s four-part Settlement Strategy Playbook series. 17 business practice changes mandated by the National Association of Realtors ‘ (NAR) commission lawsuit settlement.

Sellers 395

Sellers Agents Training Clients 395

Housing Wire

AUGUST 14, 2024

Denver-based Realtor Bret Weinstein took on a client whose house had been on the market for 60 days. If homes are priced appropriately and marketed well, buyers will make offers. The buyer] got a deal,” Weinstein said of the $600,000 purchase price. This gave sellers the upper hand, but the market has turned in recent months.

Buyers 434

Buyers Housing Market Marketing Sellers 434

Housing Wire

OCTOBER 25, 2024

As the real estate industry grappled with the fallout of the Sitzer/Burnett jury verdict and eventual settlement from the National Association of Realtors (NAR), a top concern was how changes to the agent commission structure would impact veteran homebuyers.

Buyers 412

Buyers Real Estate Realtors Agents 412

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.

Realtors 417

Realtors Inventory Agents Clients 417

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. Nesthook has not been created by the National Association of Realtors, any Realtor Association or MLS.

Buyers 452

Buyers Realtors Agents Sellers 452

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. Buyers may begin to go directly to listing agents.

Realtors 452

Realtors Brokerage Agents Buyers 452

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 486

Buyers Open Houses Sellers Agents 486

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.,

Sellers 429

Sellers Brokerage Real Estate Realtors 429

Housing Wire

MAY 20, 2024

The National Association of Realtors (NAR) proposed settlement of litigation, recently given preliminary approval by the Court, has raised questions about whether buyers with limited resources, especially first-time home buyers , can afford closing costs. In a seller’s market, that may well occur.

Buyers 389

Buyers Agents Counter Offer Sellers 389

Housing Wire

JULY 18, 2024

After slamming the California Association of Realtors (CAR) for a draft of its buyer representation agreement, the Consumer Federation of America (CFA) on Tuesday released its proposed criteria for evaluating buyer representation agreements. The criteria are primarily focused on the form and content of the contract.

Buyers 434

Buyers Contracts Realtors Real Estate 434

Housing Wire

FEBRUARY 21, 2024

The National Association of Realtors (NAR) announced on Wednesday the addition of a home repair estimate app to its package of NAR Realtor Benefits for members. Second Century Ventures , NAR’s strategic investment division, included Curbio in its “REACH” startup growth program in 2019.

Home Improvement 420

Home Improvement Realtors Real Estate Agent Inspection 420

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. Buyers will also be required to sign a representation agreement outlining the amount they will pay their agent for their services.

Buyers 523

Buyers Real Estate Real Estate Agent Brokerage 523

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 400

Buyers Contracts Agents Realtors 400

Housing Wire

JULY 12, 2024

The California Association of Realtors (CAR) evidently wants no part of the Department of Justice. The DOJ expressed concerns about possible loopholes the forms might contain, which could allow agents to skirt new rules implemented as part of the National Association of Realtors’ (NAR) antitrust settlement.

Realtors 424

Realtors Legal Agents Law 424

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

Realtors 420

Realtors Brokerage Tools Inventory 420

Housing Wire

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. 28 and July 14 of this year to compare average commission rates paid to a buyer’s agent. The typical U.S.

Agents 459

Agents Buyers Real Estate Agent Sellers 459

Housing Wire

AUGUST 30, 2024

The proposed settlement between the National Association of REALTORS ( NAR ) and class-action litigants has prompted much discussion about a series of practice changes affecting compensation for real estate professionals. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage.

Finance 414

Finance Buyers Agents Insurance 414

Housing Wire

SEPTEMBER 17, 2024

The role of the buyer’s agent has been turned on its head and Lone Wolf Technologies wants to help. The real estate software company is launching a “Buyer’s Agent Club” that is designed to assist agents in navigating an uncertain time in the industry through resources, tools and training.

Design 341

Design Tools Agents Buyers 341

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

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

JULY 24, 2024

RealReports , a proptech firm that offers an artificial intelligence-based platform for property data , announced a new partnership this week with the San Francisco Association of Realtors (SFAR) to provide access to its tool to an estimated 5,000 members in the Bay Area.

Realtors 422

Realtors Tools Real Estate Agent Real Estate 422

Real Estate News

SEPTEMBER 12, 2024

With industry rule changes now in effect, the National Association of Realtors has been doubling down on education and outreach to buyers and sellers.

Sellers 217

Sellers Agents Realtors Buyers 217

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.

Sellers 485

Sellers Real Estate Agents Buyers 485

Housing Wire

SEPTEMBER 5, 2024

Because FHA accepts lower credit scores , higher debt-to-income ratios and lower down payments than most conventional mortgages, first-time buyers have relied on them due to the ongoing affordability challenges in today’s housing market from elevated prices and mortgage rates. of the U.S. mortgage market in 2023, up from 14.3%

Buyers 419

Buyers Real Estate Agent Inspection Real Estate 419

Housing Wire

MARCH 22, 2024

There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement. As of Jan. As of Jan.

Buyers 494

Buyers Contracts Real Estate Agents 494

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 458

Business Sellers Realtors Buyers 458

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

Appraisal Buzz

NOVEMBER 13, 2024

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Among Gen Z, 49% exceeded their budget—over 1.5

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

SEPTEMBER 18, 2023

According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. In fact, the U.S.

Buyers 505

Buyers Realtors Real Estate Agents 505