Housing Wire

APRIL 2, 2024

Agents are the lifeblood of real estate brokerages. Recruiting and retaining high-performing agents remains a critical challenge for brokerages, especially in the environment created by the National Association of Realtors ’ recent $418 million settlement in a litany of agent commission lawsuits.

Agents 336

Agents Brokerage MLS Technology 336

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. Central to the complaint is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS.

Brokerage 431

Brokerage MLS Branding Agents 431

Housing Wire

APRIL 30, 2024

Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent. Under these circumstances, the agent or MLS participant would not need a written agreement with the buyer.

MLS 465

MLS Agents Brokerage As-is 465

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.

Industrial 504

Industrial Seller concession Purchase and sale agreement Agents 504

Housing Wire

AUGUST 14, 2023

The incident left agents from all across the country scrambling for workarounds to navigate the disruption to their marketing and property sales efforts, the North Bay Business Journal first reported. It’s also been challenging for agents to keep track of sold properties since the attack as their local MLS system has been out.

Agents 369

Agents MLS Brokerage Sales 369

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

Brokerage 448

Brokerage Industrial MLS Sales 448

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 403

Agents MLS Brokerage Equity 403

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.

Brokerage 460

Brokerage MLS Agents Branding 460

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 479

Agents Purchase and sale agreement Brokerage Finance 479

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. Don’t panic. The executives said they received more than 150 questions.

Purchase and sale agreement 424

Purchase and sale agreement Agents Seller concession MLS 424

Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual RealTrends 500 ranking. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass.

Brokerage 491

Brokerage Residential MLS Sales 491

Housing Wire

JANUARY 26, 2024

It devolved into a battle about historic facts, old-school MLS listing books, pronunciation corrections and even references to the kid-friendly restaurant chain Chuck E. He also said that the idea that agents and MLSs are colluding is “ridiculous.” If they want to hire just a regular agent, they are free to do that.

MLS 437

MLS VA loan Agents As-is 437

Housing Wire

MARCH 27, 2024

These are all untrue and offensive words that come up when searching “Realtors” or “Real estate agents.” But even with all the negative nouns used to describe some real estate agents, the majority of real estate agents are professional and valuable. And before getting my real estate license in 2009, I had the same opinion, too.

Purchase and sale agreement 309

Purchase and sale agreement Agents MLS Brokerage 309

Housing Wire

MARCH 15, 2024

With several of the major brokerage houses already having settled, NAR was in the untenable position of fighting to protect a business model that was already compromised by the settlements.” An industry insider at a top brokerage shared a similar sentiment. “We It also agreed to prohibit broker compensation appearing in the MLS fields.

Industrial 448

Industrial MLS Brokerage Agents 448

Housing Wire

JULY 26, 2021

Multiple Listing Services (MLS) by those trying to disparage the system. In the process, they had to rent a home for four months between their sale and their purchase given “simultaneous closings” are not a practice there. Not to mention all the other financial, legal and community details real estate agents help consumers understand.

MLS 384

MLS Purchase and sale agreement Brokerage Closing 384

Housing Wire

MARCH 8, 2024

Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The brokerage is part of the LeadingRE network. 26 firm in the RealTrends 500 for transaction sides, after its agents closed 16,658 transaction sides in 2022.

MLS 397

MLS Brokerage Agents As-is 397

Housing Wire

DECEMBER 6, 2023

Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. Despite not being affiliated with a Realtor association, West Penn MLS has adopted a rule similar to NAR’s Participation Rule.

MLS 431

MLS Brokerage Agents Industrial 431

Housing Wire

MARCH 8, 2024

She talks with a lot of people, and she announced to our company that this was coming and went through what exactly we should expect,” said Posnick, the sales manager at Chinatti Realty Group. 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.

Agents 418

Agents MLS As-is Title 418

Housing Wire

APRIL 26, 2021

Compass announced Monday that it has reached an agreement to buy San Francisco-based real estate transaction platform Glide , a deal that some California real estate agents may feel uneasy about. The buy is Compass’s first since the residential brokerage started publicly trading shares earlier this month.

Purchase and sale agreement 379

Purchase and sale agreement Agents Brokerage MLS 379

Housing Wire

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

MLS 411

MLS Brokerage Industrial Sales 411

Housing Wire

OCTOBER 20, 2023

No seller must use a real estate agent to sell a home — ever. In fact, considering inter-family and estate transfers as well as for-sale-by-owners, as many as 20% of all transactions may not include the use of an agent. Consumers are free to sell or buy a home without an agent — and consumers know this.

MLS 431

MLS Brokerage Agents Industrial 431

HomeLight

MARCH 27, 2024

Selling your South Carolina home For Sale By Owner (FSBO) can lead to substantial savings but it’s a lot of work. In this post, we’ll dissect the pros and cons of flat fee MLS services in South Carolina, highlight key providers, and dig into pricing, benefits, and effectiveness. Unsure About Selling FSBO in South Carolina?

MLS 101

MLS Brokerage Agents Sales 101

Housing Wire

NOVEMBER 3, 2023

Thanks to provisions in both Anywhere’s and RE/MAX’s settlement agreements , as well as Redfin’s announcement that it would be requiring agents to cancel their National Association of Realtors membership, much of the speculation has focused on what will become of NAR’s 1.5 million members. Certainly there are a lot of places in the U.S.

MLS 428

MLS Brokerage Agents Industrial 428

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.

MLS 429

MLS Brokerage Agents Industrial 429

Housing Wire

AUGUST 9, 2023

This piece will explore some of the key domains where AI is having the greatest impact for real estate agents, brokers and the innovative companies leading the charge. Scaling lead generation with AI In the fast-paced and competitive market we’re experiencing today, effective lead generation can be the make or break of a brokerage.

Agents 369

Agents Brokerage Technology Industrial 369

Housing Wire

FEBRUARY 28, 2024

District Court in Los Angeles, the Freedlund suit, named after its lead — and currently only — plaintiff, Andrea Freedlund, the suit alleges that NAR, along with the California Association of Realtors and Redfin , conspired to artificially inflate agent commissions. 2021 to a buyer represented by a Redfin agent. 2, 2019, and Oct.

MLS 405

MLS Residential Brokerage Agents 405

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.”

Agents 395

Agents Loan Officer Lending MLS 395

Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual ranking by Real Trends. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass.

Brokerage 314

Brokerage Residential MLS Sales 314

Housing Wire

FEBRUARY 16, 2024

In its statement of interest relating to MLS Property Information Network ’s (MLS PIN) settlement agreement with the Nosalek commission lawsuit plaintiffs, filed Thursday evening, the DOJ recommended that Judge Patti D. Saris deny preliminary approval of MLS PIN’s second amended settlement agreement.

MLS 432

MLS Lending Closing costs Agents 432

Housing Wire

OCTOBER 25, 2023

Ketchmark said that franchisees being members of their local Realtor associations and MLSs meant that they and their agents agreed to follow the bylaws of the Realtor associations. In response, Blefari said that HomeServices does not require agents to become NAR members nor participate in the MLS. I was a successful agent.

MLS 416

MLS Agents Brokerage As-is 416

Housing Wire

NOVEMBER 1, 2023

The new lawsuit, known as Gibson after its lead plaintiff, accuses the National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman , of conspiring to inflate real estate agent commissions.

MLS 418

MLS Brokerage Industrial Agents 418

Housing Wire

AUGUST 21, 2023

In REX’s Lanham Act portion of its lawsuit, the firm alleges that Zillow “falsely labeled REX listings as ‘Other Listings’ rather than ‘Agent Listings’ when REX’s listings were in fact offered by licensed real estate agents,” according to earlier court documents. “It REX ceased its brokerage operations in mid-May of 2022.

MLS 364

MLS Agents Brokerage Sales 364

Housing Wire

MARCH 20, 2024

Trading volumes in eight residential brokerage or listings companies rocketed up 319% to almost 80 million shares on Friday. The company monetizes its platform’s traffic in a variety of ways, primarily by selling leads, software-as-a-service tools for agents and advertising services.

Investor 434

Investor Residential Agents MLS 434

Housing Wire

FEBRUARY 8, 2021

The commission gobbled up by a homebuyer’s real estate agent will now be posted on Redfin’s listings. Under that deal, the MLS operator/lobbying group for real estate agents agreed that they could no longer keep Redfin and other websites from posting an agent’s commission fee.

Agents 372

Agents MLS Brokerage Sales 372

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.

MLS 473

MLS Industrial Agents Brokerage 473

Housing Wire

OCTOBER 23, 2023

In the motion, HomeServices claimed that no evidence has been presented to show they conspired with the National Association of Realtors (NAR) and other brokerages on rules for commissions. The day started with video depositions of four real estate brokerage executives.

MLS 428

MLS Agents Brokerage As-is 428

Housing Wire

NOVEMBER 3, 2023

But, there are steps that both brokers and agents can take to minimize the damage of a worst-case scenario. billion in commissions they paid to buyers’ agents in the past eight years. billion in commissions they paid to buyers’ agents in the past eight years. The Moehrl antitrust class action was filed in 2019 in the U.S.

MLS 318

MLS Brokerage Property Management Agents 318