Housing Wire

AUGUST 22, 2024

Seattle -based real estate brokerage Redfin imposed a new round of layoffs on Thursday, a development first reported by GeekWire. Amid the flurry of commission lawsuits across the country over the past year, brokerages like Redfin have restructured their compensation plans to retain existing agents and attract new ones.

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Housing Wire

AUGUST 7, 2024

The Real Brokerage isn’t tapping the brakes on its rapid expansion. The ballooning agent count pushed brokerage revenue to $340 million, an 84% year-over-year improvement. The company said the program has attracted 20 independent brokerages and 700 agents so far this year.

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Housing Wire

OCTOBER 28, 2024

The New York Times reported that Richard Ferrari, who previously managed Douglas Elliman’s brokerage sales and operations in New York and the Northeast, has been named CEO of Douglas Elliman Realty. He was named CEO in 2021 after being selected by Lorber and Dottie Herman, Elliman’s previous CEO.

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Housing Wire

OCTOBER 2, 2024

The brokerages and non-Realtor-owned MLSs that decided to opt in to the National Association of Realtors’ (NAR) commission lawsuit settlement agreement can breathe a sigh of relief. Through Bough’s approval, the MLSs and brokerages that opted in to NAR’s settlement have been added to the larger case. As expected, Judge Stephen R.

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Housing Wire

SEPTEMBER 3, 2024

As it became clear that many real estate professionals are in need of guidance, brokerages and industry leaders have launched a variety of educational resources and training courses for agents and brokers. The webpage is open to agents across the industry regardless of their brokerage affiliation.

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Housing Wire

JUNE 25, 2024

If real estate brokerages fail to make changes to their operations, 79% of them will be unprofitable if the terms of the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement lead to typical agent commissions dropping to 2%. This is according to a study published Tuesday by AccountTECH.

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Housing Wire

SEPTEMBER 23, 2024

The Real Brokerage has expanded its footprint into the Richmond, Virginia , area. On its second-quarter 2024 earnings call, the brokerage reported adding almost 3,000 agents between April and June, up 70% from the same period last year and up 250% from Q2 2022. Real has been on a tear lately in adding agents.

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Housing Wire

OCTOBER 9, 2024

If commission rates drop significantly as a result of the National Association of Realtors antitrust lawsuit settlement, it’s potentially an existential threat to many brokerages. That’s because many large brokerages still pay for office space and middle management. But which ones and how many?

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Housing Wire

AUGUST 5, 2024

Brokerage stocks were especially mixed. The Real Brokerage and Anywhere fell by 5.2% Rocket Mortgage, which has a huge refinance business, added 3% in value. loanDepot rose 2.3% and Guild Mortgage stayed flat, although other lenders — including Mr. Cooper , Pennymac and Newrez parent Rithm Capital — sustained substantial losses.

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Housing Wire

AUGUST 15, 2024

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. Next week, the brokerage will offer daily interactive training and role-play sessions.

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Housing Wire

OCTOBER 31, 2023

During their testimony, the home seller plaintiffs and their lead attorney Michael Ketchmark argued that despite the defendants having antitrust rules and regulations in place, the trade group and corporate brokerages knowingly violated their own rules in order to maintain high commission rates.

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Housing Wire

SEPTEMBER 11, 2024

Velt starts the conversation by asking Carrion for background on his purchase of the brokerage. He plans to focus on M&A efforts with other brokerages, day-to-day sales, and the recruiting of new agents and other professionals to keep the momentum going.

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Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Each LO is closing 12 loans per month with an eventual goal of 15 to 20.

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Housing Wire

DECEMBER 19, 2024

As 2025 approaches, The Real Brokerage is heading into the new year with more growth-centered momentum. The digital brokerage platform announced another major affiliation this week to strengthen its presence in the luxury market. Real announced this week the affiliation of Urban Nest Realty , a Las Vegas -based brokerage.

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Housing Wire

OCTOBER 31, 2024

Much to the relief of some of the nation’s largest brokerage firms, Judge Stephen R. million) , The Real Brokerage ($9.25 Similarly, The Real Brokerage settled with the Umpa plaintiffs in early April, prior to the consolidation. The Gibson defendants that now have final approval of their settlements are Compass ($57.5

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Housing Wire

DECEMBER 4, 2024

While the commission lawsuits and the business practice changes outlined in the National Association of Realtors’ (NAR) settlement occupied notable portions of 2024 for The Real Brokerage , impressive organic growth is the firm’s true highlight of the year.

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Housing Wire

JANUARY 21, 2025

The moment felt surreal and inspiring for Chris Trapani and Ryan Iwanaga, co-founders of the Christie’s International Real Estate Sereno brokerage, as they repurchased their independence from @properties. Beyond that, the brokerage will now be the exclusive representative of Christie’s International Real Estate in the Bay Area.

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Housing Wire

AUGUST 6, 2024

17 implementation deadline for these changes, brokerages like eXp are finding themselves sorting out their forms. As the largest brokerage in the country by transaction sides in 2023, Pareja said it made sense for eXp to create its own forms. “We And as the clock continues to count down to the Aug.

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Housing Wire

SEPTEMBER 25, 2024

The Real Brokerage has scored a 13-for-1 deal. The Real Brokerage has been adding agents at a torrid pace over the past few years. RealD2D is led by agent and coach Duane Richins, who brought a unique background to his real estate career that began in 2016.

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Housing Wire

OCTOBER 18, 2024

As he sees it, if a brokerage like Howard Hanna succeeds in having a case against them dismissed, they could potentially still publish offers of buyer broker compensation on the MLS, if the local MLS still allows it.

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Housing Wire

OCTOBER 8, 2024

But as many as 200 real estate agents , brokerage firms and landlords are alleged to have violated this law by discriminating against applicants with federally subsidized Section 8 Housing Choice Vouchers, according to an undercover investigation conducted by the Housing Rights Initiative (HRI).

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Housing Wire

DECEMBER 5, 2024

Processing is a big piece of what brokerages care about, so we have a copilot that we’re getting feedback on and plan to have six or seven copilots that will launch next year. We’ve trained our AI models to be extremely specific to help agents, brokerages and end customers as well. SW: Tell me more about your background.

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Housing Wire

DECEMBER 6, 2024

The Masiello copycat commission lawsuit plaintiff and Realty ONE Group Arizona have filed a joint motion to dismiss the brokerage defendant from the suit with prejudice. The motion was filed on Thursday in U.S. District Court in Phoenix. and Tierra Antigua Realty.

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Housing Wire

AUGUST 12, 2024

Many brokerage firms are trepidatiously moving to a model with no cooperative compensation in light of the impending business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement. Peter Voss at 3% Listing Co. is wondering what took them all so long to make the switch.

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Housing Wire

JANUARY 9, 2025

The Hooper commission lawsuit plaintiffs and the brokerage defendants that have reached proposed settlement agreements are looking to make things official. The four brokerages have agreed to business practice changes, as well as total payments of $44.05

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Housing Wire

DECEMBER 27, 2024

Whether youre running a large brokerage, managing a small team or working on your own, the right transaction management platform can take the worry out of compliance and lighten your workload. From managing compliance to automating commission disbursements, its built to grow with your brokerage.

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Housing Wire

JANUARY 6, 2025

According to the announcement, Chris will be tasked with providing strategic counsel on strengthening relationships, building trust and enhancing collaboration with brokerage leaders. NAR said this outreach will focus on creating an open dialogue with brokerage leaders and finding more opportunities to better support NAR members.

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Housing Wire

DECEMBER 2, 2024

Ryan Serhant ’s eponymous brokerage has been in rapid growth mode this year following the success of the Netflix show “Owning Manhattan,” and now investors want in on the action. Technologies, the umbrella company that includes the brokerage — will be used to develop the company’s AI platform known as S.MPLE.

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Housing Wire

OCTOBER 9, 2024

In its race against other brokerages to add agents, eXp Realty has scored big in California. Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. eXp is one of a few national brokerages that are adding agents and teams at a rapid pace.

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Housing Wire

MAY 7, 2024

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. With Pro Teams, a team or brokerage firm is able to maintain its own internal economics and commission models.

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Housing Wire

DECEMBER 12, 2024

Leading real estate brokerage William Raveis is making another game-changing acquisition before the new year. This week, the firm announced the acquisition of Nantucket, Massachussetts -based brokerage Jordan Real Estate (JRE). Co-owners Gloria Grimshaw and David Callahan acquired the brokerage from founder Lucille Jordan in 2007.

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Housing Wire

DECEMBER 17, 2024

Side has filed a preliminary injunction against Tal and Oren Alexander and their brokerage, Official Partners , that seeks to prevent them from dissipating, hiding or moving collateral for a loan that Side claims the brothers have defaulted on.

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Housing Wire

JUNE 4, 2024

The recent announcement of Homie’s decision to strip its brokerage services and end employment for its real estate agents has once again brought the discussion of alternative models in real estate to the forefront. Many limited service brokerages have faced similar hurdles in their quest to disrupt the status quo.

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Housing Wire

AUGUST 26, 2024

Their brokerage firms, which rely on a split of those commissions for revenue, may also find themselves in a tough spot. Data from real estate accounting software provider AccountTech shows that brokerages with profit margins of 3% or less run the risk of falling into the red with even a minor decline in commission rates.

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Housing Wire

MARCH 26, 2024

Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. It stated that associates who joined the brokerage on or after April 1, 2020, and subsequently jumped to a competitor would lose their revenues from the company’s lifelong revenue program.

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