Housing Wire

DECEMBER 8, 2023

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. By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

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Brokerage MLS Branding Agents 423

Housing Wire

MARCH 18, 2024

I think a lot of agents just sort of relied on the MLS to dictate what they were going to make. There is going to be a lot more conversations happening around off-MLS considerations.” “I don’t think they really understand what is going on and what is going to be required of them,” Danzey said. “I

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Industrial Brokerage MLS Agents 409

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. This stabilization is possibly linked to a resurgence in property sales, hinting at a more buoyant housing market ahead.

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Agents MLS Brokerage Industrial 403

Housing Wire

APRIL 30, 2024

NAR recently published an FAQ page related to the settlement agreement where it clarifies that the phrase “working with” is meant to “distinguish MLS participants who provide brokerage services to a buyer from MLS participants who simply market their services or just talk to a buyer.”

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MLS Agents Brokerage As-is 457

Housing Wire

JANUARY 18, 2024

The complaint names 35 entities as defendants, including the National Association of Realtors , local and national brokerages, MLSs and local Realtor associations. The two MLSs named in the suit California Regional MLS and Combined L.A./Westside Westside MLS. A copycat commission lawsuit has been filed in Los Angeles.

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MLS Brokerage Agents As-is 517

Housing Wire

JANUARY 16, 2024

After a multi-year decline in agent movement between brokerages , Relitix ’s Agent Movement Index shows a clear bottoming out in early fall of 2023 and increased real estate agent mobility as we move into 2024. “We Agents will begin moving more between brokerages in 2024 as the market begins to normalize.

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Agents MLS Brokerage As-is 424

Housing Wire

JULY 26, 2021

Multiple Listing Services (MLS) by those trying to disparage the system. They also had to pay for the brokerage sign outside their home, newspaper advertising, online ads and the brochures for potential buyers. That market, which is fiercely competitive, allows consumers the best chance to see all inventory and make informed decisions.

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MLS Purchase and sale agreement Brokerage Closing 382

Housing Wire

NOVEMBER 27, 2023

Real estate agents are continuing to stay put, moving much less between brokerages than the post- pandemic peak seen in the summer of 2021, according to the latest Relitix Agent Movement Index. The index shows the relative degree of movement between brokerages by experienced agents and is indexed to the level of mobility in January 2016.

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Agents MLS Brokerage As-is 387

Housing Wire

MARCH 21, 2024

While the news of the National Association of Realtors’ settlement agreement in the commission lawsuits may have created panic at some brokerages , local Realtor associations and Multiple Listing Services (MLSs) said they were not only anticipating the news but were prepared for it.

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MLS Agents Industrial Brokerage 391

Housing Wire

OCTOBER 3, 2023

1 brokerage by transaction side count announced the launch of eXp Exclusives , which will be open to eXp agents and their clients in the U.S. Through eXp Exclusives, participants will be able to share off-market and pre-market listings with other eXp agents and their clients through a mobile app. On Tuesday, the nation’s No.

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MLS New Construction Brokerage Agents 418

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.

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Brokerage MLS Agents Branding 450

Housing Wire

DECEMBER 20, 2023

After a multi-year decline in agent movement between brokerages , Relitix’s Agent Movement Index suggests that this trend may be reversing. Trends in the relative movement of experienced real estate agents between brokerages are an important strategic consideration for brokerage and franchise leaders.

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MLS Brokerage Agents As-is 397

Housing Wire

JANUARY 9, 2024

Masiello sold a home on an Arizona MLS through HomeSmart “in or about October 2021.” 2023, the Masiello suit is seeking class action status for all persons who used any brokerage defendant to list and sell a home on an Arizona MLS and paid a buyer broker commission between Jan. commission ($10,250) to the buyer broker.”

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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. I am also confident there are more than are listed here.

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MLS Brokerage Agents Industrial 421

Housing Wire

DECEMBER 6, 2023

Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS. District Court for the Western District of Pennsylvania.

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MLS Brokerage Agents Industrial 423

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.

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Agents Brokerage MLS Technology 324

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.

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Industrial MLS Brokerage Agents 439

Housing Wire

APRIL 29, 2024

Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. The firm also agreed that will not provide agents with any software that filters or restricts MLS listings based on the level of compensation being offered. As part of the settlement agreement, Douglas Elliman will pay $7.75

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Brokerage MLS Agents Branding 388

Housing Wire

OCTOBER 20, 2023

Another known fact is that at least one firm, Redfin , which gets over 50 million unique visitors on its website each month and offers discounted listing and lower-cost buy-side commissions, is available in most of the metropolitan markets in the United States. Despite that, it has less than 1% market share of all transactions.

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MLS Brokerage Agents Industrial 423

HomeLight

MARCH 27, 2024

By signing up for flat fee MLS listing service , you’re not just stepping away from traditional real estate brokerage models; you’re stepping into the arena of potential buyers with the same visibility as the pros, but at a fraction of the cost. Unsure About Selling FSBO in South Carolina?

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MLS Brokerage Agents Sales 99

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. ” What’s at stake?

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MLS Brokerage Agents Residential 450

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5

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Brokerage MLS Agents Branding 424

Housing Wire

NOVEMBER 3, 2023

that you have to be a Realtor to get access to the Realtor-owned and operated MLS. But it is interesting, among other places, like California, Colorado, Florida, Georgia and South Carolina and, functionally, the state of Washington, you don’t have to be a Realtor to get access to the MLS. million members. In about half the U.S.,

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MLS Brokerage Agents Industrial 419

Housing Wire

OCTOBER 6, 2023

million ( Anywhere ) and $55 million ( RE/MAX ) payouts, both settlements contained nearly identical terms, including provisions to no longer require agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook. In addition to the already publicized $83.5 In the Sept. In the Sept.

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Industrial MLS Brokerage Agents 385

Housing Wire

MAY 8, 2024

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “In In addition to Compass’ market share gains, the firm also recorded a 10% annual bump in revenue to $1.05

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Agents Brokerage Investor MLS 371

Housing Wire

JANUARY 23, 2024

Jansta joins Xome from Altisource , where he served for two years as the chief marketing officer. Jansta’s background includes serving as chief marketing officer and senior vice president at Auction.com , general manager at Hubzu , and marketing lead at Equator , an Altisource business unit.

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Industrial Title MLS Technology 401

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.

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MLS Lending Closing costs Agents 424

Housing Wire

SEPTEMBER 26, 2023

Real estate agents are moving much less between brokerages than the post-pandemic peak seen in the summer of 2021, Relitix’s inaugural Agent Movement Index shows. The index shows the relative degree of movement between real estate brokerages by experienced agents and is indexed to the level of mobility in January 2016.

Agents 364

Agents Brokerage MLS Industrial 364

Housing Wire

FEBRUARY 5, 2024

With this capital infusion, the company aims to accelerate its product development, grow its team and pursue market penetration with real estate brokerages, MLS associations and other proptech companies nationwide. “We Proptech company RealReports , formerly known as BHR , has successfully secured $2 million in seed funding.

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MLS Brokerage Investor Development 388

Housing Wire

DECEMBER 12, 2023

The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. Grace is seeking class action status for the suit, with the proposed class being any homeowner who listed and sold a home on BAREIS MLS between Dec.

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MLS Brokerage Agents Industrial 439

Housing Wire

OCTOBER 3, 2023

“We started this process back in June when I resigned our NAR board seat, which are appointed to the top 50 brokerages in the country,” Rath told HousingWire in an interview Tuesday. model of local MLS broker marketplaces has long been — and still is — considered the best value in the world. There is a lot of unwinding to do there.”

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Industrial MLS Brokerage Staging 311

Housing Wire

NOVEMBER 14, 2023

While the lawsuit does name large corporate brokerage firms as defendants, including Keller Williams , Side , HomeServices of America , and Fathom Realty , the robust defendant list also includes real estate teams, such as The Loken Group and Hexagon Group , as well as an individual broker, Mark Anthony Dimas. 13, 2019, to the present.

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MLS Brokerage Agents As-is 404

Housing Wire

OCTOBER 6, 2023

RE/MAX brokerages and affiliates from any claims related to these lawsuits.  Like Anywhere, RE/MAX will no longer require agents to be “members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook.” Final court approval of the settlement is expected in early 2024.

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MLS Brokerage Agents Development 477

Housing Wire

OCTOBER 25, 2023

In response, Blefari said that HomeServices does not require agents to become NAR members nor participate in the MLS. “Maybe the local company or the MLS does, but we don’t,” Blefari testified. He refused to provide evidence about the purpose of the rule, but he admitted the rule was a core component of the MLS.

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MLS Agents Brokerage As-is 408

Housing Wire

MARCH 20, 2024

Trading volumes in eight residential brokerage or listings companies rocketed up 319% to almost 80 million shares on Friday. Of these eight companies, CoStar and Zillow are by far the largest by market capitalization. The opposite trajectories of their stock prices seem to reflect investor appetites for their different business models.

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Investor Residential Agents MLS 422

Housing Wire

NOVEMBER 7, 2023

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% million after the brokerage paid its commissions and related expenses. Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said.

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Principal MLS Agents Brokerage 367

Housing Wire

FEBRUARY 1, 2024

On Thursday, the Gary Keller-helmed brokerage notified the federal court in Missouri that it had entered into a settlement agreement with the plaintiffs in the Sitzer/Burnett suit. It allows us all to turn our attention back to what we do best: delivering unparalleled value in an ever-evolving real estate market,” he added.

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MLS Agents Brokerage Industrial 464