Housing Wire

OCTOBER 11, 2023

These lawsuits threaten to radically reshape the residential brokerage landscape, and could be the catalyst for a fat decline in the annual commission pool as well as the industry shedding as many as 80% of agents, according to a team of analysts at Keefe Bruyette Woods. You are forewarned — there are charts! Who’s most exposed?

Agents 467

Agents Purchase and sale agreement Brokerage Finance 467

Housing Wire

AUGUST 9, 2023

Fast-growing The Real Brokerage posted a $3.97 During the second quarter, Real once again delivered best-in-class growth with our agents closing a record number of transactions,” said Tamir Poleg , the CEO of Real. Like many other brokerages , the firm is still in the red (it lost over $20 million last year). compared to 8.3%

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Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The market, however, is expected to grow as HEI companies seek to partner with mortgage lenders and real estate brokerages. The annual investment volume in the U.S.

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Equity Finance Purchase and sale agreement Investor 383

Housing Wire

MAY 9, 2024

In 2018, the brokerage onboarded RE/MAX Heritage in Yarmouth, Maine , led by Mike Lepage. As a result, Davin’s brokerage boasts 165 agents all over Maine and on the seacoast of New Hampshire. The brokerage has been ranked as one of the top private independents in the country by RealTrends in 2024.

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Brokerage Industrial As-is Agents 282

Housing Wire

APRIL 17, 2024

The latest findings from Relitix’s Agent Movement Index (AMI) for March 2024 reveal a nuanced landscape in the real estate sector, with shifts in agent activities suggesting stabilizing and evolving market conditions. The agent movement reflects the relative mobility of experienced agents between brokerages.

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Agents MLS Brokerage Industrial 386

Housing Wire

AUGUST 25, 2022

South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. billion in the first half of 2022, down 17% compared to the same period in 2021, according to data from Inside Mortgage Finance. Movement originated $13.7

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Brokerage Mortgages Loan Officer Loans 471

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. No other brokerage can offer agents a big traditional split and all the benefits, support, technology and customer introductions that we provide here at Redfin.

Agents 374

Agents Marketing Brokerage Technology 374

Housing Wire

DECEMBER 8, 2023

Originally filed in late November, the Phillips lawsuit accuses real estate industry players of colluding to artificially inflate real estate agent commissions. As a result of this scheme, the purportedly non-negotiable commissions of buyer agents are rolled into the sale price of homes.

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Brokerage MLS Branding Agents 417

Housing Wire

APRIL 9, 2024

On Monday, the independent brokerage announced that it had acquired Springfield, Massachusetts-based Sears Real Estate. 166 nationwide in the 2024 RealTrends Verified sales volume rankings, after its agents closed $1.78 Lamacchia Realty is expanding its presence in the Pioneer Valley region of Massachusetts. Based in Waltham, Mass.,

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Brokerage Branding Agents Sales 414

Inman

MAY 16, 2024

For real estate agents, highlighting diverse financing options is one of the easiest ways to attract more traffic to their listings. Clever's Luke Babich shares a few programs and options to know about.

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Finance Marketing Agents Brokerage 140

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Presented by: Axis Technical Group.

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Lending Brokerage Mortgages Banks 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. 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. In mid-May 2022, REX ceased its brokerage operations.

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Brokerage MLS Agents Design 372

Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. Our brokerage is unique,” Michael Gifford told HousingWire. “It’s So that’s a major differentiator from us and other agents.” I will say that real estate brokerage is a far cry from Fintech.”

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Equity Brokerage Agents Marketing 358

Housing Wire

DECEMBER 26, 2023

There is no question that the headline of the year in 2023 for many publicly traded brokerages was the commission lawsuits. With mortgage rates trending downward in recent weeks and economists expecting them to further recede in 2024, analysts are feeling guardedly optimistic about how the publicly traded brokerages will perform in 2024. “I

Brokerage 417

Brokerage Mortgages Agents Industrial 417

Housing Wire

AUGUST 11, 2021

Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. But Rocket’s announcement provides a couple of specific ways it wants to cut into the real estate market and challenge traditional agents. listing agent fee is closer to 2.5%, according to a RealTrends study.

Brokerage 414

Brokerage Agents Lending Finance 414

Housing Wire

DECEMBER 6, 2023

Flat-fee real estate brokerage Fathom Realty will hike its agent fees in 2024 to bolster the company’s revenue by more than $3 million next year. The brokerage will implement two main changes to its fee structure, effective on Jan. After the first 15 transactions, agents currently pay $150, up from $99 before the increase.

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Agents Brokerage Sales Finance 404

Housing Wire

MARCH 25, 2024

During a virtual open house hosted by Keller Williams to answer agent and broker questions about the settlements in the commission lawsuits , the overwhelming message was for real estate professionals to focus on what they can control. The buyer can use those funds for anything they would like, including paying their agent, if they choose.”

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Purchase and sale agreement Agents Seller concession MLS 391

Housing Wire

SEPTEMBER 7, 2023

The brokerage on Thursday launched Accelerate , an incentive program that helps agents maximize their revenue share earning potential during their first year with the brokerage. The program is available in all 24 countries where eXp Realty operates and it is open to agents who joined on or after March 1, 2023.

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Agents Brokerage Equity Design 323

Housing Wire

AUGUST 2, 2023

Approximately 400 Dilbeck agents and support staff will operate under the Engel & Völkers brand. Under the leadership of Mark Dilbeck, the company’s majority owner since 1998, the indie brokerage achieved $1.04 Dilbeck was #373 in the nation by sales volume last year, and its agents averaged $2.99 million in volume.

Brokerage 302

Brokerage Branding Agents Sales 302

Housing Wire

OCTOBER 23, 2023

We usually represent the sell side of the deal and work with firms that range in size from small, one-office, 10-agent shops to the largest in the nation. This includes financials, organizational documents, agent productivity reports, operating metrics, vendor contracts, lease agreements, employment agreements, insurance documents, and more.

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Due diligence Brokerage Staging Agents 341

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%.

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Agents Sales Finance As-is 421

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

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Agents Loan Officer Lending MLS 380

Housing Wire

JANUARY 10, 2024

Most agents seldom sell homes, according to a new study published by the Consumer Federation of America last week. The study, CFA’s third of three on this topic, suggests that a significant portion of agents in the U.S. sell at most five homes in a year. On this, NAR has previously reached the same conclusion.

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Agents Sales Residential Commercial 415

Housing Wire

JANUARY 16, 2024

Vanguard operates in Marin, Sonoma, Napa, San Francisco, East Bay and Palm Springs counties and has approximately 500 agents. Twin Oaks is headquartered in Solano County and has roughly 100 agents, while Windermere is headquartered in Seattle and has over 6,500 agents. The lawsuit was originally filed in U.S.

Brokerage 364

Brokerage MLS Agents As-is 364

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story. The jury verdict came to $1.76 billion in damages.

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Brokerage MLS Agents Branding 435

Housing Wire

OCTOBER 19, 2023

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. From this, Ketchmark said Keller Williams teaches its agents that a “model will work for you if you follow it.”

Agents 380

Agents MLS Brokerage Equity 380

Housing Wire

APRIL 9, 2024

Keller Williams was named to an eighth class-action lawsuit that takes issue with alterations made to the brokerage’s profit-sharing program. It stated that associates who joined the brokerage on or after April 1, 2020, and subsequently jumped to a competitor would lose their revenues from the company’s lifelong revenue program.

Brokerage 408

Brokerage Agents Sales Industrial 408

Housing Wire

MAY 14, 2024

Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. The survey also delved into the use of real estate agents. Roughly three-quarters of respondents said that it’s “important to have an agent represent them in the homebuying process.”

Seller concession 455

Seller concession Agents Brokerage Mortgages 455

Housing Wire

AUGUST 17, 2023

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. million fine.

Mortgages 370

Mortgages Loan Officer Brokerage Title 370

Housing Wire

FEBRUARY 8, 2024

As a real estate agent, you may think clients should care more about their next home than your life story. And while that may be true, well-crafted real estate agent bios can build trust and credibility and serve as a powerful tool in an agent’s marketing arsenal — giving prospective clients. So let your personality shine.

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Agents Construction Design Branding 377

Housing Wire

OCTOBER 6, 2023

Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable in a shrinking market. Then, we have all the traditional financing options, including jumbo.” 1 product to help first-time homebuyers get their houses.

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Mortgages VA loan Finance Loans 464

Housing Wire

MARCH 8, 2024

If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. Posnick noted that one client even had the settlement notification postcard on the kitchen table when he and another agent from the firm went to meet with the seller to sign their listing agreement.

Agents 389

Agents MLS As-is Title 389

Housing Wire

JULY 28, 2023

Mauricio Umansky ‘s residential brokerage The Agency is venturing into core services. Through partnerships with Bubble Insurance Solutions and New American Funding , real estate agents at The Agency will have access to mortgage lending services and insurance services for their clients. In 2023, The Agency ranked as the No.

Brokerage 336

Brokerage Finance Lending Mortgages 336

Housing Wire

FEBRUARY 23, 2024

Revenue rose at eXp World Holdings during the fourth quarter of 2023, but the firm was unable to overcome a slow housing market, resulting in a $21 million loss and slower agent count growth. Our agent-centric model and value proposition, scale and superior efficiency enable us to invest in the success of our agents.”

Agents 373

Agents Principal Residential Sales 373

Housing Wire

APRIL 10, 2024

R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. For too long our industry mandated agents join a trade association,” Haber told HousingWire. “We

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Lending Brokerage Agents Industrial 428

Housing Wire

SEPTEMBER 29, 2023

Initially filed in April 2019, the lawsuit takes aim at NAR’s Participation Rule , which requires listing agents to make a blanket offer of compensation to buyers’ agents in order to list the property on a Realtor-affiliated multiple listing service (MLS).

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Brokerage MLS Agents Design 363

Housing Wire

DECEMBER 27, 2021

Some 15 years ago, real estate agents had only a few choices when deciding which real estate business model to choose. From virtual, capped models to low-fee and discount, agents can pick the company that best fits their needs. for the largest brokerage companies in the United States. Today, the choices are abundant.

Brokerage 353

Brokerage Finance Short sale Agents 353