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A homebuyer’s personal story from the post-Sitzer, post-settlement world

Housing Wire

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Finding an agent Like 43% of homebuyers , I began my search online, as I worked to get a sense for what the inventory in my preferred areas and in my price range looked like. Funny you should ask.

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MLSs turn to AI to catch commission lawsuit settlement violations

Housing Wire

MLSs are using AI technology to catch agents who attempt to circumvent the commission lawsuit settlement terms. Before the commission lawsuit settlements, “three” used to be the magic number for agents posting on multiple listings services (MLSs). Still, agents are finding creative ways to get compensation offers in their listings.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

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The 11 do’s and don’ts of buying a new build

Housing Wire

New build vs. older homes Purchasing a new build ensures that all mechanical, plumbing and electrical components are up to current codes. Each builder has its own purchase agreement. While the builders sales team represents the developer, a buyers agent works solely in the buyers best interest.

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With sale finalized, REcolorado names Dana Bennett as new CEO

Housing Wire

REcolorado has taken a big step toward moving on from its controversial sale earlier this year. Bennett’s most recent role at the MLS was as vice president and chief business development officer, and she originally joined REcolorado as director of integrated solutions in 2012. The sale to Burks was made official last week.

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Compass acquisition could worry some California agents

Housing Wire

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. Glide, which was founded in 2017, provides tools like eSignature and the digitization of sales processing forms.

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

Seller concessions for VA borrowers are capped at 4% of the home’s purchase price or appraised value and can cover some closing costs, including the VA funding fee and prepaid taxes. “But agent commissions have never been a closing cost from a buyer perspective. “VA loans are probably the best loans on the market.

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