article thumbnail

Compass cuts losses in Q3, addresses commission lawsuit threat

Housing Wire

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. million after the brokerage paid its commissions and related expenses. Revenue decreased by 10% year over year to $1.34

Principal 409
article thumbnail

Chaos, consolidation and opportunity: Experts weigh in on what NAR’s settlement means for the industry

Housing Wire

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NAR CEO back on stand for second day of defense testimony in commission lawsuit trial

Housing Wire

In his testimony, Gansho stated that NAR does not conspire with brokerages on commissions, and he echoed Goldberg’s sentiment that brokerages do not follow and enforce the rule. ” However, if an MLS didn’t want to adopt a mandatory NAR rule, the MLS would lose its NAR-provided errors and omissions insurance, Gansho said.

MLS 421
article thumbnail

Umpa commission lawsuit defendants look to get case dismissed

Housing Wire

who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec. Douglas Elliman also cites lack of jurisdiction in its motion to dismiss, stating that Douglas Elliman International and Douglas Elliman Realty are holding companies that are not licensed as real estate brokerages in Missouri or elsewhere.

Brokerage 421
article thumbnail

Introducing the 2023 HW Finance Leaders!

Housing Wire

Here’s the full list of this year’s honorees: Name Job Title Company Name Alejandro Franco Controller, Vice President of Accounting and Finance JPAR Real Estate Amber Kramer Senior Vice President and Chief Financial Officer Guild Mortgage Andrew Hubacker Chief Accounting Officer and Interim Principal Financial Officer United Wholesale Mortgage (..)

Finance 397
article thumbnail

Realogy Speaks Out Against ‘Mandatory’ NAR MLS policy

RIS Media

Realogy has urged the National Association of REALTORS® (NAR) to rethink one of its multiple listing service (MLS) policies. The large real estate conglomerate publicly called for NAR to end its MLS mandate requiring listing brokers to offer compensation so they can post a seller’s property on a REALTOR®-affiliated MLS.

MLS 98
article thumbnail

Introducing the 2023 Women of Influence!

Housing Wire

Name Job Title Company Name Agnes Standowicz Senior Vice President and Head of Underwriting United Wholesale Mortgage Alayna Gardner Director of Sales and Marketing LodeStar Software Solutions Ali Haralson President Auction.com Amanda Tucker Chief Risk and Compliance Officer Atlantic Bay Mortgage Company Amy Gromowski Executive of Science and Analytics (..)

Lending 370