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.

Industrial 498

Industrial Seller concession Purchase and sale agreement Agents 498

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. billion in sales volume in 2023, behind only Compass , Anywhere Advisors and eXp Realty.

Brokerage 435

Brokerage MLS Agents Branding 435

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.

Industrial 431

Industrial MLS Brokerage Agents 431

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. Who’s most exposed? But that statement comes with a big asterisk.

Agents 467

Agents Purchase and sale agreement Brokerage Finance 467

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.

MLS 418

MLS Brokerage Agents Industrial 418

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.

MLS 399

MLS Brokerage Industrial Agents 399

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.

Agents 379

Agents MLS Brokerage Equity 379

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. 2, 2019, and Oct. 2, 2023.

MLS 369

MLS Residential Brokerage Agents 369

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.

MLS 395

MLS Agents Brokerage As-is 395

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.

MLS 463

MLS Industrial Agents Brokerage 463

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

MLS 340

MLS Residential Brokerage Agents 340

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.

MLS 409

MLS Agents Brokerage As-is 409

Housing Wire

MARCH 25, 2024

There is simply a new NAR rule that applies to all NAR member and NAR MLSs that does not allow cooperative compensation to be offered on the MLS.” According to the panel, the agent would not be allowed to keep the excess funds and the buyer could instead use it to possibly negotiate a lower sale price for the property.

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Purchase and sale agreement Agents Seller concession MLS 390

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.

MLS 434

MLS Brokerage Agents Sales 434

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. By the terms of the Settlement, RE/MAX agreed to pay a total settlement amount of $55.0 million … into a qualified settlement fund.

MLS 483

MLS Branding Agents Brokerage 483

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.

Investor 398

Investor Residential Agents MLS 398

Housing Wire

AUGUST 1, 2022

Bright MLS. Vice President of Brokerage Operations. Finance of America Reverse. Senior Vice President, Call Center Sales. Finance of America. Camelia Martin. Vice President of Industry and Regulatory Affairs. Carey Armstrong. Co-founder and Chief Revenue Officer. Cindy Ariosa. Chair, Board of Directors. eXp Realty.

Lending 381

Lending Title Technology Finance 381

Housing Wire

SEPTEMBER 7, 2023

Some of the nation’s largest real estate brokerages, including Keller Williams, RE/MAX , HomeServices of America as well as the National Association of Realtors , are facing three class action lawsuits (NAR is only named as a defendant in two lawsuits) that could result in the industry paying out tens of billions in damages.

Agents 380

Agents Loan Officer Lending MLS 380

Housing Wire

NOVEMBER 13, 2023

In Florida, getting licensed as a real estate agent begins with the completion of an approved 63-hour Sales Associate prelicensing course. Self-paced online Gold Coast School $263 Classroom, livestream, or online MLS Campus Real Estate School $83.88 out of 5. A separate Exam Prep course is also available for purchase.

Purchase and sale agreement 392

Purchase and sale agreement MLS Pre-approval Agents 392

Housing Wire

OCTOBER 3, 2023

Most brokerage leaders know about the multiple challenges facing the real estate industry, not the least of which are the major class-action lawsuits. Those details are clearly established in the listing agreement between your brokerage and the seller. Read your brokerage ‘s listing agreement. Imagine that.

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Purchase and sale agreement Brokerage Agents MLS 378

Toronto Realty Blog

SEPTEMBER 25, 2023

Chris had the idea to talk about “discount brokerages,” and I thought it was great. Alternative Brokerage Models: Are We Trying to Solve a Problem That Doesn’t Exist? This was an amalgamation of a handful of essentially “sale by owner” companies across the country backed by venture capital firm DN Capital.

Brokerage 97

Brokerage Industrial MLS Renovation 97

Housing Wire

MARCH 8, 2024

She talks with a lot of people, and she announced to our company that this was coming and went through what exactly we should expect,” said Posnick, the sales manager at Chinatti Realty Group. A website link and QR code are included for recipients to check if their home sale falls within the date range for their MLS.

Agents 388

Agents MLS As-is Title 388

Housing Wire

SEPTEMBER 28, 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, creating a two-tab design for agent listings and “other listings.” In mid-May 2022, REX ceased its brokerage operations.

MLS 384

MLS Commercial Brokerage Design 384

RIS Media

JULY 31, 2021

Register today for RISMedia’s next webinar: “How to Increase Your Brokerage Business in a Virtual World.” Virtual technology can boost your brokerage’s profitability in myriad ways, from agent recruiting and retention to improved systems at the agent and consumer levels—the digital space is brimming with opportunities.

Brokerage 90

Brokerage Technology MLS Branding 90

RIS Media

JUNE 10, 2021

They are financing their own brokerage, Zillow Homes®, with revenues from their Premier Agent® program. As a licensed competing brokerage with Zillow Homes, they are no longer simply a “marketing partner.” Would you pay to advertise on your neighboring brokerage’s website? of Zillow’s gross profit.

Brokerage 94

Brokerage Agents MLS Industrial 94

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

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Short sale Sales Pre-approval Equity 78

Housing Wire

OCTOBER 18, 2023

The suit’s class includes 265,297 home sale transactions that occurred during the relevant time period. Ketchmark also brought up Keller’s book “The Millionaire Real Estate Agent,” which discusses the ‘co-opetition’ model that has evolved among rival brokerages. Members of the group include many brokerage executives.

Brokerage 414

Brokerage Agents MLS Staging 414

Housing Wire

OCTOBER 2, 2023

Most brokerages are only a loose affiliation of independent agents, and none of us wants to impose a policy that could alienate any of the people who generate our revenue.” In leaving NAR, the brokerage said it will explore other ways to achieve those goals.

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Brokerage Agents Industrial Technology 376

HomeLight

DECEMBER 15, 2021

We’ve heard the stories about people who managed to make an offer on a house before it officially went up for sale, beating out all the other would-be buyers and scoring the home of their dreams. But if you don’t know how to buy a house before it’s listed on the MLS (multiple listing service), then you’ll miss out on this chance.

MLS 80

MLS Pre-qualification Purchase and sale agreement Agents 80

The Close

NOVEMBER 10, 2022

Let’s talk about your dream of starting your own real estate brokerage. After all, having your own brokerage means more money, more autonomy, and greater responsibility. I’ve launched two brokerages, invested in two more, and coached dozens of broker-owners. 7 Things I Wish I Knew Before Starting My Real Estate Brokerage.

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Brokerage Branding Purchase and sale agreement Agents 75

Notorious ROB

APRIL 5, 2023

I’ll try very hard not to make this a total sales pitch and shameless plug, but… I make no guarantees on that front. For real estate, the Execution step is when a Sales Contract is signed — that’s when a seller agrees to sell and the buyer agrees to buy the property. DPX has been my passion for over a year now.

Purchase and sale agreement 97

Purchase and sale agreement MLS Brokerage Agents 97

Housing Wire

NOVEMBER 30, 2023

Requirements to get a real estate license in Ohio Before you enroll in the required 120 hours of sales associate prelicensing education, you’ll need to know some of the requirements for obtaining an Ohio real estate license. Ready to find a real estate brokerage? Look for a broker who specializes in that niche.

Brokerage 371

Brokerage Pre-approval Agents As-is 371

Toronto Realty Blog

JANUARY 27, 2023

The letters “SC” on an MLS listing mean the property is “sold conditionally,” and agents not only know this, but are quite accustomed to seeing it on listings. An agent in my brokerage asked this last week. SCE What in the world is that? But what the heck is SCE? “Is that a typo?

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Purchase and sale agreement Sales MLS Closing 77

First Team Real Estate

DECEMBER 14, 2020

Here are the 6 ways we, as a local family-owned brokerage , help our clients save thousands of dollars on their home sale while providing our signature quality service that has secured us a 98% satisfaction rating among Southern California homeowners. to analyze changes that will affect your home sale. Pricing Your Home.

Brokerage 105

Brokerage Backup offer Staging MLS 105

Redfin

MARCH 19, 2024

Unlike the earlier settlements with large brokerages, NAR also agreed to what could be a major structural change: eliminating the field in listing databases for the agent listing a home to offer a commission to the agent representing the buyer. of the sales price, and promise to support that fee in agent-only remarks.

MLS 65

MLS Brokerage Agents Sales 65

Housing Wire

FEBRUARY 24, 2021

Vance Loiselle: In the 20th century, the primary technology innovations in real estate were the telephone and the MLS. Home sales and refinancing have seen large year-over-year increases in an environment where people have not been congregating face-to-face.

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Pre-qualification Agents Loan Officer Technology 285

The Close

FEBRUARY 14, 2024

After all, a new listing on the MLS gets the most attention in the first week. Home sale preparation is done like a dealership preps the cars for the lot. Selling a home is the same—it’s not just a sign in the yard and a posting on the MLS. Then interest starts to taper off. Sellers will ask, What are you doing to sell my home?

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Pre-approval Earnest money deposit MLS Renovation 98