Housing Wire

JULY 2, 2024

The district court applied an incomplete legal framework in evaluating whether REX had presented a genuine dispute of material fact on concerted action in this case,” the filing states. On Tuesday, the CFA announced it had also sent an analysis of CAR’s seller agreement to the DOJ.

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Legal Real Estate Realtors Sellers 468

Housing Wire

SEPTEMBER 18, 2024

You have to follow the law, but if it’s legal, you can do it,” Pfaff said. “We While no legal statute presently outlaws these practices, the MLSs might be engaging in a game of chicken with the Department of Justice (DOJ) and the law firms that have won or settled commission lawsuits against NAR and several major brokerages.

Legal 482

Legal Realtors Agents Brokerage 482

Housing Wire

NOVEMBER 9, 2023

The jury reached an outcome that was neither supported by the law nor the facts that were presented in this case,” Kasper said in a video posted Thrusday. According to Kasper, while the plaintiffs are portraying this outcome as a win for consumers, getting rid of cooperative compensation will only harm homebuyers and sellers.

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Agents Legal Sellers Clients 459

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 459

Real Estate Realtors Sellers Agents 459

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. The three defendants who were present at the trial, NAR, Keller Williams and HomeServices of America , have all vowed to appeal the verdict.

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Legal Sellers Realtors Law 448

Housing Wire

OCTOBER 3, 2024

This rule is no longer in place due to the terms of NAR’s home seller commission lawsuit settlement , which went into effect in August. The suit is seeking class-action status for a nationwide class that is defined as all persons who purchased a residential property listing on a Realtor-affiliated MLS between 2002 and the present.

Realtors 448

Realtors Real Estate Sellers Agents 448

Housing Wire

JUNE 28, 2024

If your seller instructs you not to offer compensation, enter a value of 0 into the compensation fields in Pinergy [the MLS platform],” the email states. Some of the additional changes that MLS PIN is looking to implement, as outlined in its settlement include: “Offers of compensation, if any, will be made by the seller.

Sellers 397

Sellers Legal Agents Realtors 397

Housing Wire

APRIL 15, 2024

When asked about the language they use to discuss how buyer and seller agent commissions are paid, some of the most common responses included stressing that commissions are and always have been negotiable, and that if the National Association of Realtors’ settlement is approved, some practices may change, but many things are currently unknown.

Inventory 448

Inventory Agents Real Estate Sellers 448

Housing Wire

JANUARY 28, 2021

The update expands Zillow’s Local Legal Protections tool, which was created in 2018 to help LGBT home searchers identify if their rights were protected by local laws in certain jurisdictions. Today, both sellers and buyers expect to handle a majority of the process online. Presented by: 1 Percent Lists.

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Landlords Tenants Law Legal 488

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. 17, 2020, and the present.

Realtors 533

Realtors Brokerage Real Estate Realty 533

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. 16, 2020, and the present. The copycat commission lawsuit was filed on Friday in U.S.

Real Estate 468

Real Estate Realtors Realty Brokerage 468

Housing Wire

MARCH 8, 2024

District Court in New Orleans, home seller plaintiff Joseph C. The lawsuit is seeking class action status for anyone who has used Latter & Blum as listing broker for sale of a home on an MLS in Louisiana and paid a buyer broker commission between March 5, 2020, and the present. In a lawsuit filed on Tuesday in U.S.

Brokerage 448

Brokerage Sellers Realtors Agents 448

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

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.

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Sellers Realtors Buyers Agents 459

Housing Wire

AUGUST 22, 2024

Adding an additional debt burden to lower-income consumers would leave them in a worse position under the present system, increasing their debt-to-income ratio, making it harder to qualify for a mortgage , and making borrowing more expensive. The seller would pocket that money.

Real Estate 352

Real Estate Sellers Legal Buyers 352

Housing Wire

OCTOBER 29, 2024

And it is a little bit early, but some of the preliminary data I have looked at show that sellers are continuing to pay buyer agent compensation.” I think ultimately, though, sellers should be looking at their net (profit). This is concerning, she added, given the complicated nature of the real estate transaction.

Marketing 448

Marketing Real Estate Sellers Buyers 448

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

Real Estate 459

Real Estate Sellers Real Estate Agent Realtors 459

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. According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents.

Law 459

Law Agents Realtors Contracts 459

Housing Wire

JANUARY 16, 2024

“The unlawful restraints implemented and enforced by Defendants’ conspiracy, further the common goals of permitting Defendants herein to impose supra-competitive charges on home sellers and restrain competition by precluding competition from innovative or lower priced alternatives,” the complaint reads. 15, 2020, and the present. .”

Realtors 476

Realtors Real Estate Real Estate Agent Sellers 476

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. million, respectively.

Buyers 482

Buyers Brokerage Agents Realtors 482

Housing Wire

FEBRUARY 22, 2024

Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers. Legal and regulatory risk demands compliance with evolving laws and regulations, with VRM Mortgage Service’s legal and compliance departments ensuring current knowledge and implementing controls.

Business 435

Business Marketing Real Estate Legal 435

Housing Wire

OCTOBER 23, 2024

Despite reaching a settlement agreement with the home seller plaintiffs in the Hooper (formerly Phillips ) commission lawsuit , eXp World Holdings’ legal woes are far from over. This settlement will provide tremendous benefit to the class and all future home sellers.

Legal 434

Legal Sellers Brokerage Business 434

Housing Wire

OCTOBER 26, 2023

During plaintiff lead attorney Michael Ketchmark’s cross examination of Warner, he presented her with some statistics showing that HomeServices affiliated agents in four Missouri markets paid buyer broker commissions of roughly 3% in at least 88% of the transactions completed between 2015 and 2022. They were guidelines.

Law 435

Law Brokerage Agents Buyers 435

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. 1, 1996, and the present. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S. “

Sellers 468

Sellers Real Estate Agent Realtors Real Estate 468

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.

Realty 488

Realty Realtors Real Estate Real Estate Agent 488

Housing Wire

DECEMBER 20, 2023

The National Association of Realtors , Keller Williams and HomeServices of America , have asked judge Andrea Wood to rule on the suit based on the evidence that has been presented during the discovery period of the proceedings. After almost five years of litigation, it is clear that Keller Williams Realty, Inc.

Real Estate 447

Real Estate Sellers Realtors Real Estate Agent 447

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. That’s a problem because mortgage LOs traditionally have not “forged as deep of inroads” with sellers’ agents.

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

OCTOBER 8, 2024

In its suit, the DOJ claimed the policy restrained “competition from brokers who use the Internet to more efficiently and cost effectively serve home sellers and buyers.” In its request, REX argued that it was unfairly prevented from presenting testimony about agent commissions to the jury.

Real Estate 475

Real Estate Brokerage Realtors Legal 475

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!

Real Estate 448

Real Estate Real Estate Agent Agents Brokerage 448

Housing Wire

FEBRUARY 12, 2024

On Friday, home seller plaintiff Dalton Jensen filed an antitrust lawsuit in U.S. 9, 2020, and the present, and paid a buyer broker commission. 9, 2020, and the present, and paid a buyer broker commission. Yet another copycat commission lawsuit has hit the court dockets.

Real Estate 468

Real Estate Real Estate Agent Realtors Buyers 468

Housing Wire

JUNE 26, 2024

In my career as an attorney, I’ve seen how legal disputes can sink relationships fast and forever. Even if a relationship is strained beyond the parties working together again, ADR can reduce the animosity and resentment that can linger after a legal fight. In these disputes, the parties traditionally had the following choices.

Real Estate 299

Real Estate Legal Law Agents 299

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. 8, 2019, and the present. Sellers can sell their home for more and have their home seen by more buyers while buyers have more choices of homes and can afford representation. The copycat commission lawsuits have made it to the West Coast.

Realtors 476

Realtors Sellers Real Estate Buyers 476

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 459

Buyers Realtors Agents Sellers 459

Housing Wire

FEBRUARY 6, 2024

In its request for a new trial, REX argued that it was unfairly prevented from presenting testimony about agent commissions to the jury.

Advertising 448

Advertising Real Estate Brokerage Agents 448

Housing Wire

OCTOBER 31, 2023

One option is that NAR and the MLSs can no longer require cooperative compensation, but listing agents and their sellers can still offer the buyer broker compensation if they so choose. It is a situation where buyers need to pay their own agents and sellers have to pay their agent separately?” They got their butts kicked.”

Real Estate 497

Real Estate Landlords Sellers Design 497

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. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

Real Estate 493

Real Estate Realtors Realty Real Estate Agent 493

Housing Wire

MARCH 18, 2024

Jessica Edgerton , chief legal officer at LeadingRE , was also caught off guard by the timing of everything. “I We’ve really been laying out the road map for value propositions and creating plans for value proposition presentations. We’ve spent the last six months wrapping our heads around it all,” Smith said. More off-MLS listings?

Brokerage 448

Brokerage Real Estate Agents Sellers 448