Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual RealTrends 500 ranking. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass.

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Brokerage Residential MLS Sales 483

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. My lawsuit wasn’t filed against individual Realtors; it was filed against the industry.” Name another industry out there where that happens.

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MLS VA loan Agents As-is 432

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.

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Brokerage MLS Agents Branding 455

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. It’s easy to understand what a market without an MLS would look like and why it doesn’t work. experience.

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MLS Purchase and sale agreement Brokerage Closing 382

Housing Wire

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

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MLS Brokerage Industrial Sales 411

Housing Wire

DECEMBER 6, 2023

Plaintiffs in Florida and Pennsylvania filed lawsuits on Monday, accusing real estate industry players of allegedly colluding to artificially inflate real estate agent commissions. Despite not being affiliated with a Realtor association, West Penn MLS has adopted a rule similar to NAR’s Participation Rule.

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MLS Brokerage Agents Industrial 424

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 346

Housing Wire

NOVEMBER 3, 2023

Speculation is still swirling around what Judge Stephen Bough’s final ruling on the Sitzer/Burnett commission lawsuit will be and how it will impact the industry. that you have to be a Realtor to get access to the Realtor-owned and operated MLS. It is a sales business,” Stella said. “If million members. In about half the U.S.,

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MLS Brokerage Agents Industrial 423

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 424

Housing Wire

MARCH 25, 2021

reigned supreme as the largest residential brokerage in America by transaction sides last year , according to the latest annual ranking by Real Trends. But such activity didn’t result in more sales volume than its chief rivals, publicly traded brokerage colossus Realogy or controversial New York upstart Compass.

Brokerage 332

Brokerage Residential MLS Sales 332

Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri. Who’s named?

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MLS Brokerage Industrial Agents 413

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. “We 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 395

Housing Wire

FEBRUARY 16, 2024

The Department of Justice (DOJ) is asking the real estate industry to consider a world without the practice of cooperative compensation. Saris deny preliminary approval of MLS PIN’s second amended settlement agreement. Saris deny preliminary approval of MLS PIN’s second amended settlement agreement.

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MLS Lending Closing costs Agents 424

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. Michelle Figgs, the former senior industry analyst at Keller Williams , appeared next.

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Agents MLS Brokerage Equity 401

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.

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MLS Brokerage Agents Industrial 423

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. 13, 2019, and the present and the plaintiffs are demanding a jury trial.

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MLS Industrial Agents Brokerage 464

Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. ” So, he recommends brokerages “manage their companies away from a sales office-based culture.”

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MLS Brokerage Property Management Agents 316

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? ” Steering to grab that bag?

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Agents Purchase and sale agreement Brokerage Finance 471

Housing Wire

JANUARY 19, 2024

the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions. Brokerages RE/MAX , Anywhere , Keller Williams , eXp World Holdings , NorCal Gold , Williams L. Filed on Thursday in U.S. District Court in Sacramento by Willsim Latham, LLC., 18, 2020, and the present.

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MLS Residential Brokerage Agents 388

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 471

Housing Wire

NOVEMBER 8, 2023

The class action-seeking Gibson case was assigned to Judge Stephen Bough, whose forthcoming injunctive relief ruling in the Sitzer/Burnett case is keeping the real estate industry rapt. One of the named defendants has a very different business model than the more traditional brokerages named in Sitzer/Burnett.

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Brokerage MLS Industrial Agents 422

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 438

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. 31, 2019, to the present. 30, its U.S.

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Brokerage MLS Agents As-is 406

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 380

Housing Wire

AUGUST 2, 2023

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has acquired Bonzo – a relationship management and mortgage marketing platform. The company has more than 2,000 clients, according to its website.

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MLS Brokerage Mortgages Industrial 370

Housing Wire

NOVEMBER 27, 2023

On Wednesday, home seller plaintiffs in northern Georgia filed a class-action antitrust lawsuit accusing real estate industry players of colluding to artificially inflate real estate agent commissions. The copycat commission lawsuits have spread to the Southeast. This system, with its veiled surcharges, illegally warps the real estate market.”

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MLS Brokerage Agents Sales 441

Housing Wire

FEBRUARY 27, 2024

Like the other commission lawsuits, the Umpa suit alleges that the National Association of Realtors (NAR) and more than a dozen other real estate industry firms have colluded to artificially inflate agent commissions. who sold a house on an MLS and used an agent from one of the brokerage defendants between Dec.

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Brokerage Principal MLS Industrial 404

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 425

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 423

Housing Wire

APRIL 26, 2021

The buy is Compass’s first since the residential brokerage started publicly trading shares earlier this month. Glide, which was founded in 2017, provides tools like eSignature and the digitization of sales processing forms. Unclear is whether the California MLS may renege its relationship with Glide.

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Purchase and sale agreement Agents Brokerage MLS 380

Housing Wire

MARCH 27, 2024

89% of buyers would use their agent again or recommend their agent to others 51% of buyers found their home on the internet, while 29% of buyers found their home through an agent FSBOs accounted for 10% of home sales in 2021 with the most difficult task listed by them was getting the right price (16%).

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Purchase and sale agreement Agents MLS Brokerage 314

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.

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MLS Branding Agents Brokerage 483

Housing Wire

AUGUST 7, 2023

Digitization redraws industry boundaries and changes how the value of information is expressed, enriched and exchanged. Many industries began to deploy electronic supply chains in the 1980’s. Real estate still relies on a “system” unable to integrate production across the silos of media, brokerage, lending, insurance and trading.

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Lending Loans Technology Brokerage 365

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 90

Housing Wire

MARCH 22, 2024

There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement.

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MLS Agents Design As-is 471

RIS Media

FEBRUARY 16, 2022

Massachusetts-based MLS Property Information Network, Inc. MLS PIN), announced Erminio Grasso as its new president and chief executive officer. who has been in the real estate industry for 44 years and grew MLS PIN into an industry leader during her 23-year tenure.

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MLS Brokerage Industrial Agents 78

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. Sadly, the understanding of the difference between a client and a customer is pitifully poor in our industry. If you find yourself in that scenario, you are fortunate.

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Purchase and sale agreement Brokerage Agents MLS 401