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RESO announces 2024 board of directors election results

Housing Wire

Of the nine open board of director seats, four went to MLS or Realtor association representatives and five went to members representing technology companies, developers, partners or consultants. The Real Estate Standards Organization is welcoming many new and returning board of director members in 2024.

MLS 351
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Compass cuts losses in Q3, addresses commission lawsuit threat

Housing Wire

The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. That’s a 4% year-over-year increase of 511 principal agents since Q3 2022 and a 3% increase of 422 agents compared to the second quarter of 2023. Revenue decreased by 10% year over year to $1.34 Revenue was revised down to $241.20

Principal 331
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NAR CEO back on stand for second day of defense testimony in commission lawsuit trial

Housing Wire

Cross-examination zeroes in on MLS, association compliance with NAR rule Like others who have testified, Gansho noted that NAR does not own or operate Multiple Listing Services , or MLSs. ” 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 399
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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. There is an agreement but what about approval?

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New home sales climb in February for the third straight month

Housing Wire

New home sales increased in February for the third straight month, in a sign that the market may be stabilizing,” Kelly Mangold, the principal of RCLCO Real Estate Consulting , said in a statement. “As On a year-over-year basis, however, new home sales are still down 19.0%. This represents 8.2 months of supply at the current sales pace.

Sales 371
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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 97
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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. It notes that it does not have franchisees incorporated under the laws of Missouri, it does not maintain a principal place of business in Missouri, and it does not transact business of “a substantial character” in the state.

Brokerage 355