Housing Wire

AUGUST 13, 2024

In these contracts – also known as “land contracts” or “bond for deed” –the seller retains the legal title to a home until the borrower completes all the payments, leading to some “traps,” according to the CFPB. Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. “The

Contracts 408

Contracts Mortgage Law Sellers 408

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.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

FEBRUARY 22, 2024

Worst-case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said. Nearly six months later, Murray stands by this assertion. “If

Sellers 446

Sellers Buyers Real Estate Agents 446

Housing Wire

MAY 10, 2023

The transaction will ultimately result in the seller shutting down operations. The companies expect the deal to close in the third quarter of 2023, and after onboarding of Home Point customers, Mr. Cooper will shut down the seller operations. billion in 2022, a 71.6% decline compared to 2021.

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Legal Sellers Inventory Mortgage 386

Housing Wire

JULY 26, 2024

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. In a controlled transaction there is an established relationship between the buyer and seller. Discuss financing. Does your buyer need to secure a mortgage ?

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Market Value Real Estate Agent Real Estate Finance 398

Housing Wire

APRIL 11, 2023

Buyers, sellers and lenders all have a stake in the sale, and title and escrow ensure that everyone’s interests are protected. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. In real estate, a title is a legal document that establishes ownership of a property or asset.

Real Estate 359

Real Estate Legal Sellers Technology 359

Housing Wire

JULY 17, 2024

It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward. Buyers are skipping the process of obtaining an agent and directly approaching the seller’s listing agents or brokers. Dramatic change is what it means. Now, it’s time for all of us to adapt.

Real Estate 493

Real Estate Agents Training Buyers 493

Housing Wire

MARCH 25, 2024

Cooperative compensation is still legal,” Papasan stressed. While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Department of Veterans Affairs (VA) financing. “A

Agents 414

Agents Advertising Real Estate Sellers 414

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

Real Estate Agent 438

Real Estate Agent Sellers Buyers Real Estate 438

Housing Wire

NOVEMBER 30, 2023

An attorney for the plaintiffs, Robert Braun of Cohen Milstein Sellers & Toll, asked Wood if she would be willing to set a trial date for the third quarter of 2024. Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case.

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Legal Sellers Realtors Law 422

Housing Wire

MARCH 8, 2024

The mailers are titled “Notice of Proposed Settlements” and they began hitting the mailboxes of home sellers in mid-February. JND Legal Administration is in charge of distributing the mailers, emails and press releases. What do the postcards say? Millions are expected to be sent out across America. “If

Agents 412

Agents Legal Realtors Clients 412

Housing Wire

OCTOBER 29, 2024

According to Wang, sellers who have also been buyers in recent years — barring them from filing claims against the settling parties as buyers if they are part of the settlement class — would be better off if they could bring claims under state consumer protection statutes or false advertising statutes. “In

Sellers 426

Sellers Brokerage Real Estate Legal 426

Housing Wire

OCTOBER 6, 2023

“We believe this is the right course of action to remove future uncertainty and ongoing legal expense, serving the best interests of the company, our affiliated agents and franchisees, and shareholders, and enabling Anywhere to focus on moving real estate to what’s next.”

Buyers 459

Buyers Brokerage Agents Sellers 459

Housing Wire

SEPTEMBER 5, 2023

According to court documents filed on Tuesday, Anywhere Real Estate 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.

Real Estate 448

Real Estate Buyers Legal Realtors 448

Housing Wire

NOVEMBER 1, 2024

Real estate agents and real estate brokers are both licensed real estate professionals who can assist buyers and sellers, but you should be aware of some key differences and state-specific distinctions. A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. Let’s dive in!

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Real Estate Real Estate Agent Agents Brokerage 445

Housing Wire

AUGUST 22, 2024

Let’s address these concerns: First, Steve’s argument presupposes buyers, especially those at the lower end of the income spectrum, can easily finance agent commissions through their mortgage. The reality is that financing commissions are unfeasible. The seller would pocket that money.

Real Estate 285

Real Estate Sellers Legal Buyers 285

Housing Wire

NOVEMBER 8, 2023

But this latest one comes with a twist — it was filed by homebuyers, unlike the others filed by home sellers. Thus, the Rule is designed to create tremendous pressure on sellers to offer the high, standard commission and to act as a powerful deterrent to anyone who may attempt to offer a discounted commission.”

Real Estate 454

Real Estate Realtors Sellers Agents 454

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. The National Association of Realtors is facing yet another copycat commission lawsuit. Filed on Tuesday in U.S.

Realtors 392

Realtors Legal Agents Real Estate 392

Housing Wire

NOVEMBER 9, 2023

The heightened consumer protection focus from government agencies, combined with the Department of Justice’s ongoing legal feud with the National Association of Realtors and its recent involvement in the Nosalek commission lawsuit , has many in the industry expecting that the DOJ will get involved in the Sitzer/Burnett suit, and potentially others.

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Legal Real Estate Real Estate Agent Law 372

Housing Wire

FEBRUARY 21, 2024

HomeServices of America can preserve some of its legal war chest — for now, at least. Wood wrote on Tuesday that home sellers were “better suited to seek injunctive relief.” Judge Andrea Wood of the U.S. ” Wood also cited the $5.36 In the Batton 1 case, the plaintiffs alleged that the NAR, a trade association with 1.4

Realtors 357

Realtors Brokerage Real Estate Law 357

Housing Wire

AUGUST 8, 2024

“Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. “So, When you have to bring in more cash, it is a big deal,“ he said.

Housing Market 446

Housing Market Marketing Mortgage Sellers 446

Housing Wire

SEPTEMBER 25, 2024

Meanwhile, sellers who locked in a record-low mortgage rate of 3% or less during the pandemic have been reluctant to sell, limiting supply further and leaving fewer options for would-be buyers. But even when things are cooling down, sellers, agents and lenders shouldn’t count out international investors. homebuying process.

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Investors Construction Real Estate Inventory 398

Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing.

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Buyers Brokerage Agents Realtors 479

Housing Wire

NOVEMBER 1, 2023

Can we even discuss things about the house because if we inform the potential buyer of something about the house that makes them not want the house, even if it isn’t something necessarily bad, are we going against our agreement with our seller?” Although Pearson’s concerns are warranted, she is certainly ahead of the game.

Open Houses 486

Open Houses Brokerage Agents Realtors 486

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. In Dwiggins’ view, there is no need to disclose what the seller is willing to pay in concession or buyer representation fees. “If

Buyers 440

Buyers Realtors Agents Sellers 440

Housing Wire

NOVEMBER 1, 2023

In metros across the country, decade after decade, pre-internet and post-internet, buyer agents almost always get 2-3% of the sale price, paid by the seller, the researchers note. and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%. One of the researchers, Will Fried, had a hunch.

Clients 453

Clients Agents Buyers Sellers 453

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 a verdict announced late Friday afternoon, a jury in a U.S. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business.

Advertising 394

Advertising Brokerage Real Estate Legal 394

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said. I think listing agents are going to win.

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Buyers Agents Loan Officers Real Estate 398

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. However, before firms can begin to dive into the financial side of the deal, prospective buyers and sellers must figure out if they are a match.

Brokerage 377

Brokerage Real Estate Agents Sellers 377

Housing Wire

FEBRUARY 9, 2021

The urge to innovate in real estate is only natural — any homebuyer or seller who is a creative problem-solver will notice glaring inefficiencies in the process. Both sellers and buyers have a lot to lose. Are you solving for the seller, the buyer, the agent, or another industry pro? Emotions run high. Ownership is personal.

Real Estate 493

Real Estate Technology Agents Sellers 493

Housing Wire

AUGUST 13, 2024

. “We see HECMs as a valuable tool for homeowners in today’s environment, many of whom have accumulated substantial equity but also benefit from low mortgage rates so want to access that equity without selling their home, and [we] are pleased to be able to support the growth of this dynamic sector of real estate finance.”

Mortgage 349

Mortgage Finance Clients Legal 349

Housing Wire

SEPTEMBER 28, 2023

After nearly 10 days of trial proceedings, Zillow is ready for its years-long legal battle with REX Real Estate to be over. A judgement as a matter of the law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, REX) on that issue.

Advertising 406

Advertising Legal Law Real Estate 406

Housing Wire

NOVEMBER 9, 2020

During the first six months of 2020, the Federal Housing Finance Agency reported that the volume of e-mortgages purchased by Fannie Mae and Freddie Mac spiked significantly. Earlier this year, Fannie Mae and Freddie Mac modified their Seller Guides and provided guidance on several policy areas to support mortgage originations.

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Law Legal Technology Real Estate 467

Housing Wire

NOVEMBER 10, 2023

District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers. “The effect of these rules is not simply that the seller must pay the buyer broker’s compensation,” the complaint states.

Sellers 435

Sellers Realtors Buyers Agents 435

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. Susan Millett, a past NAR president who was instrumental in changing a key rule that eventually became the Clear Cooperation Rule, was the first to testify.

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Law Agents Realtors Contracts 437

Housing Wire

NOVEMBER 20, 2023

“Our efforts to resolve these claims remove future uncertainty and legal expense for Anywhere, our franchisees, and affiliated agents as, together, we focus on serving home buyers and sellers as they move to what’s next,” Schneider said in a statement. At Anywhere, CEO and president Ryan Schneider was equally as pleased.

Real Estate 399

Real Estate Legal Agents Realtors 399

Housing Wire

OCTOBER 24, 2023

This means sellers wind up paying inflated commissions at closing. Goldberg also told Ketchmark and the jury that Clear Cooperation gives the seller a larger homebuyer pool, however, he denied that Realtors steer clients to properties where sellers offer buyer’s agent compensation.

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Realtors Agents Clients Sellers 432