Housing Wire

DECEMBER 19, 2023

The home seller plaintiffs and MLS Property Information Network’s (MLS PIN) efforts to address the Department of Justice’s “significant concerns” about their proposed settlement agreement in the Nosalek commission lawsuit were not enough. MLS PIN, however, has not been as fortunate.

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Housing Wire

MAY 10, 2024

The so-called portal wars heated up this week, when Realtor.com CEO Damian Eales made comments about rival CoStar Group’s Homes.com during the MLS Forum at the National Association of Realtors ’ annual legislative meeting. Eales elaborated on this further in his prepared remarks during NewsCorp’s earnings call with investors on Wednesday. “If

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Housing Wire

MARCH 20, 2024

Friday’s bombshell – the National Association of Realtors ‘ proposed $418 million settlement of real estate commission lawsuits – set off a frenzy of trading for stocks in the residential real estate sector. That is 12 million more than Netflix and 32 million more than LinkedIn.

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Housing Wire

NOVEMBER 8, 2023

Moving past cooperative compensation In early August, Bright MLS , the nation’s second largest MLS, began allowing listing agents to use a $0 blanket offer of compensation for buyer brokers and still list a property on the MLS. Let’s break down the changes and the implications. As of Jan.

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Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. The DOJ is requesting that the court push the final approval hearing deadline from Jan. 4, 2024 to March 7, 2024. District Court in Boston who is overseeing the case.

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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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MLS Brokerage Residential As-is 457

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 407

HomeLight

JANUARY 12, 2024

Fast facts about selling a house ‘as is’ in Tennessee Median sales price in Tennessee $371,900 (November 2023) Average days on market (DOM) for Tennessee 48 Disclosures “The Residential Property Disclosure Act in Tennessee Code Annotated § 66-5-201 to 210 requires most sellers of residential real estate to complete a disclosure statement.”

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As-is Investor Residential Closing costs 97

Housing Wire

OCTOBER 19, 2023

The REBNY and the Residential Listing Service (RSL) in NYC are governed by the Universal Co-Brokerage Agreement (UCBA) and are independent from the National Association of Realtors. Starting Jan. 1, REBNY rules will prevent the listing brokers from paying buyer agents and instead will require sellers to pay commissions directly.

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Housing Wire

APRIL 3, 2024

The battle began heating up in September 2023 when CoStar’s residential real estate platform Homes.com surpassed 100 million unique monthly visitors, becoming the second most popular listing portal behind Zillow. Real estate listing giants Zillow and CoStar are currently embattled in a fight for listing portal supremacy.

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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. million, respectively. ” What’s at stake?

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MLS Brokerage Agents Residential 450

Housing Wire

NOVEMBER 8, 2023

District Court for the Northern District of Illinois Eastern Division, this lawsuit also takes issue with NAR’s Clear Cooperation rule, which requires listing brokers to make an offer of compensation to buyer brokers in order to submit a listing to a Realtor-affiliated MLS. Batton 2 commission lawsuit details Filed on Nov. 2 in the U.S.

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Housing Wire

JANUARY 19, 2024

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 District Court in Sacramento by Willsim Latham, LLC., Lyon & Associates , Guide Real Estate , Paul M.

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MLS Residential Brokerage Agents 384

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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HomeLight

JANUARY 22, 2024

Looking to sell a house “as is” in Virginia? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. It’s the] same as, accounts are low but equity is high, and they want to just sell it as-is to get access to their equity,” he adds.

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Housing Wire

JULY 7, 2023

In June, employment in residential specialty trade contractors continued to trend up (+10,000). In the June jobs report, residential building construction employment is up 0.8% year over year, while non-residential is up by 4.8%. The fastest monthly growth came from residential specialty trade contractors.

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Housing Wire

NOVEMBER 7, 2023

However, it was better than the overall residential industry, which fell 20%, according to Greg Hart, chief operating officer at Compass. The primary MLS in the area, non-Realtor owned Northwest MLS , in 2019 eliminated a requirement that listing brokers offer buyer brokers a commission to submit a listing to the MLS. “At

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Principal MLS Agents Brokerage 382

Housing Wire

APRIL 26, 2024

The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages collectively pay hundreds of millions of dollars in damages and make large-scale changes to longstanding commission policies.

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Housing Wire

APRIL 22, 2024

NAR agreed to abolish its “Participation Rule“ that required sell-side agents to offer compensation to buyer brokers in order to list properties on a Realtor association-affiliated MLS. Meanwhile, a customer relationship management system, along with experts in marketing, sales and other areas, are designed to support these teams, he said.

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Housing Wire

FEBRUARY 21, 2024

The residential brokerage was dismissed this week from one of the early real estate commission lawsuits , known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. HomeServices of America can preserve some of its legal war chest — for now, at least. Judge Andrea Wood of the U.S. ” Wood also cited the $5.36

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Housing Wire

MARCH 29, 2024

Defendants in the lawsuit include the National Association of Realtors (NAR), the Real Estate Board of New York (REBNY), HomeServices of America , Compass , eXp World Holdings , Douglas Elliman , Halstead Real Estate , Brown Harris Stevens Residential Sales and Realty One Group. In a lawsuit filed Thursday in the U.S.

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Purchase and sale agreement MLS Agents Residential 428

Housing Wire

NOVEMBER 14, 2023

“Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. Even though shelter prices dropped to 0.3% the prior month, they’ve increased 6.7% On Tuesday, traders priced in a nearly 85.7%

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New Construction Construction MLS Residential 380

HomeLight

DECEMBER 31, 2023

Fast facts about selling a house ‘as is’ in Arizona Median sales price in Arizona $430,990 Average days on market (DOM) for Arizona 56 Disclosures Arizona law requires sellers to disclose material facts about the property through the Residential Seller’s Property Disclosure Statement (SPDS) MLS has a field to mark a listing “as is”?

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Housing Wire

MARCH 10, 2023

Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The construction sector added 24,000 jobs in February thanks to a large uptick in the specialty trade contractors segment of construction, which gained 13,400 jobs, and residential specialty trade contractors accounted for 11,200 of those jobs. in January to 3.6%

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Construction Residential MLS Mortgages 348

Broke Agent Media

FEBRUARY 8, 2023

BAM Key Details: Bright MLS, CRMLS, and BeachesMLS announced a data share among the three organizations. Combined, Bright MLS, CRMLS, and BeachsMLS serve over 50 million consumers. Tech Solutions for the MLS Industry Last year, Bright MLS and CRMLS announced a plan to collaborate on technology solutions for the MLS industry.

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Housing Wire

OCTOBER 31, 2023

Buyer’s agent commissions won’t necessarily go away Two weeks ago, the Real Estate Board of New York (REBNY) and the Residential Listing Service modified their rules starting Jan. No big deal, except for one thing: Almost all MLS information is already syndicated with every large real estate portal. Look around.

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MLS Agents Industrial Technology 412

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 379

Housing Wire

JUNE 8, 2022

Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood. The monitoring program, covering all 50 states, includes MLS listing data as well as public records from data aggregators. year over year. .

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Housing Wire

APRIL 23, 2024

The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. Sears announced that the plaintiffs have asked for a final approval hearing for the settlement on Nov. 26, 2024. The biggest influence for the rule changes is class notification,” Sears told HousingWire.

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Housing Wire

OCTOBER 17, 2023

The Mandatory NAR Rules impede the ability of a free market to function in the residential real estate industry, and the plain purpose and/or effect of the Rules is to raise, inflate, or stabilize commission rates.” These remarks were expansions of arguments both the plaintiffs and the defendants laid out in trial briefs filed on Monday.

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MLS Agents As-is Industrial 403

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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Housing Wire

AUGUST 10, 2023

in July, said Bright MLS Chief Economist Dr. Lisa Sturtevant. To Bright MLS Chief Economist Dr. Lisa Sturtevant, these changes are not the result of the Fed’s action but rather the consequence of more new residential construction coming on the market. According to the CPI data, the inflation rate excluding shelter was just 1.0%

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MLS Construction Residential Design 351

Housing Wire

SEPTEMBER 1, 2023

Furthermore, residential building construction employment increased by 2,400 jobs, according to First American Deputy Chief Economist Odeta Kushi. While non-residential increased by 1,800 — a record high. Additionally, revised job numbers for July indicated that employment growth was slower last month than originally reported.

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Construction Residential MLS Mortgages 386

Housing Wire

FEBRUARY 22, 2022

It also comes as CoStar makes a rapid – and not totally clear – push into residential real estate. million – or 3.9% — of the company’s revenue came from residential real estate. The largest residential sub-slice is Homesnap Pro Plus, a subscription service agents use to generate leads and communicate with clients.

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Residential MLS Commercial Brokerage 292

Housing Wire

JUNE 2, 2023

Residential building construction added 2,400 jobs during the month. For now, mortgage rates, which have already hit an eight-month high last month, will likely stay elevated and continue to constrain housing market activity this summer,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement.

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Construction MLS Mortgages Loans 377

RIS Media

APRIL 27, 2022

District Court Judge in Western Missouri granted a class certification order to a group of home sellers alleging that NAR and industry franchisors conspired to inflate seller costs through a multiple listing service (MLS) policy geared toward promoting cooperation among buyer and seller agents. Bough, who is presiding over the case.

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Housing Wire

JULY 26, 2023

“New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The market for new homes is booming because the number of existing homes coming on the market has slowed to a two-decade low. At the end of the month, there were 432,000 new homes for sale, up 0.7%

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Sales New Construction Marketing Construction 365