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 466

Housing Wire

APRIL 17, 2024

This stabilization is possibly linked to a resurgence in property sales, hinting at a more buoyant housing market ahead. Moreover, the AMI reveals an upward trend in agents switching between brokerages, though the expected peak for March fell short of previous highs, the overall trend continues generally upward.

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Agents MLS Brokerage Industrial 411

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. The hourlong debate began with both participants discussing their motivations for participating. It dehumanizes Realtors and turns us into money-making machines.”

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MLS VA loan Agents As-is 436

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 459

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. I have been following the discussion around the competitiveness, costs and consumer benefits of U.S. experience.

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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. District Court in New Orleans, home seller plaintiff Joseph C. The plaintiff is demanding damages, a permanent injunction and a jury trial.

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MLS Brokerage Agents As-is 395

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 448

Housing Wire

JANUARY 2, 2024

2023, Umpa is a resident of Maryland and the lawsuit is in regards to the sale of two homes, one in Maryland and one in Ohio. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e., who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec.

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MLS Brokerage Industrial Sales 410

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 431

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 333

Housing Wire

OCTOBER 20, 2023

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 have had lots of choices in brokerage services, including those with lower costs, but they have chosen not to use them in any meaningful way.

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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?

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MLS Brokerage Agents Sales 97

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 427

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 431

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. Buyers may begin to go directly to listing agents.

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MLS Brokerage Agents Industrial 429

Housing Wire

FEBRUARY 28, 2024

At the center of the lawsuit is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer’s brokers in order to list a property on a Realtor association affiliated MLS. The National Association of Realtors is facing yet another copycat commission lawsuit. Filed on Tuesday in U.S.

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MLS Residential Brokerage Agents 402

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 Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

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Agents Brokerage Investor MLS 381

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. I do believe that the MLS is derived from the concept of cooperation and compensation,” Bailey said.

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Housing Wire

NOVEMBER 1, 2023

With nearly double the number of corporate defendants as both the Moehrl and Sitzer/Burnett cases, and the fact that the proposed class includes anyone who listed a property for sale on an MLS in the U.S. using a listing agent or broker affiliated with one of the seven brokerage defendants and paid a buyer broker commission from Oct.

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MLS Brokerage Industrial Agents 417

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 416

Housing Wire

AUGUST 21, 2023

Two months prior, in January 2021, Zillow began moving homes out of its initial search results for sellers who chose not to use agents adhering to the NAR and local multiple listing service (MLS) practices. REX ceased its brokerage operations in mid-May of 2022. Zillow’s display is not only false, it is also misleading.”

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MLS Agents Brokerage Sales 363

Housing Wire

JANUARY 19, 2024

Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. Despite not being affiliated with NAR, MetroList adopted a rule similar to NAR’s Participation Rule, requiring listing agents to make a blanket offer of compensation to buyers’ brokers in order to list a property on the MLS. “By

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MLS Residential Brokerage Agents 375

Housing Wire

NOVEMBER 3, 2023

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs. Judge Stephen R. Bough of U.S.

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MLS Brokerage Property Management Agents 317

Housing Wire

DECEMBER 15, 2023

The blanket offer of compensation is required by the National Association of Realtors’ Participation Rule in order to list the property on the MLS. The suit is seeking class action status on behalf of anyone who listed a property for sale on an MLS in Texas between Nov. As the saying goes, everything is bigger in Texas.

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MLS Industrial Agents Brokerage 473

Housing Wire

MARCH 15, 2024

Getting referrals and cozying up to the sell side Mike Kortas, CEO at NEXA Mortgage , sent a clear message to the over 2,300 mortgage LOs at his mortgage brokerage: “Keep your eyes open, keep your ears open, listen for opportunities that are going to present themselves, and be ready to assist more buyers.

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Industrial Seller concession Purchase and sale agreement Agents 504

Realty Biz

NOVEMBER 28, 2023

The Multiple Listing Service (MLS) is a vital resource in the real estate market. It provides a comprehensive database of properties available for sale, maintained by real estate brokers. Understanding MLS abbreviations is crucial when navigating property listings. What is the Multiple Listing Service?

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MLS Purchase and sale agreement Sales Agents 104

Housing Wire

MARCH 20, 2024

Trading volumes in eight residential brokerage or listings companies rocketed up 319% to almost 80 million shares on Friday. However, the company still makes the vast majority of its revenue – 75% in 2023 – from the services it provides brokers and agents in the for-sale residential market.

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Investor Residential Agents MLS 432

Notorious ROB

SEPTEMBER 5, 2022

Last year, I wrote something up on BrightMLS’s Off-MLS Study saying that the conclusions of the report were overstated and based on thin and problematic data. In particular, I had issues with the data presented: Simply put, there is a large discrepancy in the median sale price between On-MLS homes and Off-MLS homes.

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MLS Brokerage Sales New Construction 88

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.

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MLS Agents Brokerage As-is 428

Housing Wire

MARCH 12, 2021

” “The NAR and its MLS partners, which now include Zillow, are allowed to once again close off transparent access to home inventory by entering into agreements among themselves that disadvantage all but their own membership; consumers and competition will suffer,” read the lawsuit. Real Estate Tech Demo Hour.

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MLS Brokerage Technology Industrial 479

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?

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Agents Purchase and sale agreement Brokerage Finance 479

Housing Wire

NOVEMBER 7, 2023

The settlement agreements outline specific policy changes, including no longer requiring agents to be members of the National Association of Realtors or follow NAR’s Code of Ethics or the MLS Handbook, and informing agents that they don’t have to make or receive offers of cooperative compensation. Based on this rationale, in the Nov.

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Brokerage MLS Agents As-is 396

Housing Wire

NOVEMBER 27, 2023

Central to the complaint is NAR’s Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By Compass, Christie’s, Anywhere and HomeServices declined to comment on this story and other brokerages did not respond to requests for comment.

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MLS Brokerage Agents Sales 449

Housing Wire

JUNE 10, 2021

REX grabbed national attention in March when the residential real estate brokerage filed a lawsuit alleging an antitrust conspiracy between listings giant Zillow and the powerful National Association of Realtors. In order to get these feeds, Zillow had to comply with the vast majority of MLS’s that adopt the NAR’s “no commingling” rule.

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Purchase and sale agreement MLS Brokerage Residential 377

Housing Wire

OCTOBER 3, 2023

According to an article by HousingWire Reporter Brooklee Han, 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). It ranked No.

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Brokerage MLS Agents Technology 383

RIS Media

APRIL 29, 2022

MoxiWorks has announced that Troy Rech has joined the company as vice president of MLS Sales. Rech’s responsibilities include heading up the MLS sales arm of MoxiWorks and working with local and state REALTOR® associations. We’re opening the doorway for true collaboration between brokerages and MLSs.”.

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MLS Brokerage Technology Sales 98

Housing Wire

SEPTEMBER 18, 2023

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. RE/MAX’s settlement agreements, as well as the earlier settlement agreements reached by Anywhere Real Estate , must be approved by the U.S. million for both lawsuits.

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MLS Branding Agents Brokerage 491