Housing Wire

JUNE 11, 2024

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The VA said it will develop a more permanent policy “as the real estate brokerage market restabilizes and new practices take hold.”

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Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78

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Brokerage As-is Finance 545

Housing Wire

AUGUST 5, 2024

Brokerage stocks were especially mixed. The Real Brokerage and Anywhere fell by 5.2% But of course there’s still a large cohort of buyers (like Boomers and empty-nesters) that buy off cycle.” Rocket Mortgage, which has a huge refinance business, added 3% in value. loanDepot rose 2.3% RE/MAX shed 4.7% gain) and Compass (0.6%

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Brokerage Marketing Mortgages Technology 487

Housing Wire

AUGUST 2, 2024

But when it comes to the financial performance of their brokerages, industry analysts don’t believe the changes will be the end-all, be-all. “It This will leave the professional, high-performing agents to take care of the buyers who wish to have representation. 17 — are top of mind. Tomasello asked. ”In

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Housing Wire

MARCH 20, 2024

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. Every big brokerage has some of them, but if you think about some of the most productive agents, a lot of them sit on Compass’ platform.

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Brokerage Agents Industrial As-is 475

Housing Wire

AUGUST 22, 2024

.” The company noted that if it had “been allowed to compete with Defendants and their co-conspirators, it would have gained market share at Defendants’ expense while posing a competitive check on Defendants’ ability to charge exorbitant prices for brokerage services to consumers.

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MLS Brokerage Residential Technology 482

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

DECEMBER 9, 2024

In this weeks episode of the RealTrending podcast , host Tracey Velt sits down with Portside Real Estate Group CEO Dava Davin to discuss the importance of buyer consultations, brokerage leadership styles and ancillary solutions for brokerage growth in 2025. Velt: What would be your best practices for the buyer consultation?

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Housing Wire

APRIL 30, 2024

As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements.

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MLS Agents Brokerage As-is 488

Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. NAR has also advocated for the VA to change its rule around buyer broker compensation.

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VA loan Agents Loans MLS 523

Housing Wire

AUGUST 7, 2024

The motions filed by Compass , eXp World Holdings , Redfin , Weichert Realtors and United Real Estate claim that the homebuyer plaintiffs are simply trying “to parrot the allegations they made in an amended complaint,” which was filed in the Batton 1 suit that consists of the same plaintiffs but a different group of brokerage defendants.

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Brokerage Staging Branding Agents 441

Housing Wire

MARCH 22, 2024

I’m sharing a transformative announcement with you today, one that marks a new era for RealTrends and propels forward the vision of bringing transparency to what it means to be a top-performing real estate brokerage, team or agent. Your home sellers and buyers research you online. You work hard to serve clients and grow your business.

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Brokerage Branding Agents As-is 448

Housing Wire

DECEMBER 8, 2023

Central to the complaint is NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyer brokers in order to list a property on the MLS. “By By enforcing this mandate, the NAR establishes an anticompetitive market where sellers are coerced into subsidizing the buyer’s costs.

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Brokerage MLS Branding Agents 459

Housing Wire

AUGUST 23, 2024

In the newest episode of the RealTrending podcast , host Tracey Velt chats with Ryan Michaelis, chief growth strategist at Worth Clark Realty , about business growth through recruitment, flat-fee models for agents and the effects of the National Association of Realtors ’ (NAR) settlement on buyers and sellers across the industry.

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Brokerage Property Management Agents Industrial 431

Housing Wire

JULY 24, 2024

Real estate companies are using artificial intelligence (AI) to improve agent productivity, which they believe will be even more necessary due to changes to their commission structure — mainly on the buyer’s side. ” Meanwhile, AI will help them to be smarter and faster by leveraging the paperwork, listing pitches and other tasks.

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Brokerage Agents MLS Staging 460

Housing Wire

AUGUST 6, 2024

In March 2024, the National Association of Realtors (NAR) settled the nationwide commission lawsuits and agreed to several business practice changes, including a mandate that buyers sign a broker representation agreement prior to going on a home tour with their agent. And as the clock continues to count down to the Aug.

Brokerage 448

Brokerage MLS Agents As-is 448

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. Anywhere will eliminate any minimum client commission requirements that company owned brokerages may have.

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Brokerage MLS Agents Branding 459

Housing Wire

OCTOBER 31, 2024

The family-owned brokerage firm announced the completion of two acquisitions on Wednesday. The merger combines the strengths of both companies, allowing us to better support agents, buyers, and sellers in the Dayton area while enhancing our leadership in the market.” The financial terms of the deals are not being disclosed.

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Brokerage Agents Closing Sales 407

Housing Wire

AUGUST 5, 2024

In less than two weeks , offers of compensation for buyers’ brokers will no longer be permitted on any MLS in the U.S, eXp Realty recently released forms that make it clear it is firmly up to the seller to decide whether or not they will offer buyer broker compensation.

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MLS Agents Brokerage As-is 468

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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Brokerage Agents As-is Industrial 448

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

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Debt-to-income ratio Agents Equity Closing costs 497

Housing Wire

MARCH 19, 2024

For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. billion ), Douglas Elliman ($42.8

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Brokerage Industrial MLS Sales 483

Housing Wire

DECEMBER 9, 2024

In this weeks episode of the RealTrending podcast , host Tracey Velt sits down with Portside Real Estate Group CEO Dava Davin to discuss the importance of buyer consultations, brokerage leadership styles and solutions for brokerage growth in 2025. Velt: What would be your best practices for the buyer consultation?

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Brokerage Agents Industrial As-is 317

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. ” What’s at stake?

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MLS Brokerage Agents Residential 482

Housing Wire

AUGUST 29, 2024

Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.

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MLS Brokerage Agents Design 446

Housing Wire

JUNE 28, 2024

The new buyer Today’s statement from DMAR and SMDRA say the new buyer, Burks, is “a leader in the real estate industry for more than 40 years.” DMAR and SMDRA acknowledged the sale in a statement Tuesday night , seeking to reassure its members.

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MLS Due diligence Brokerage Equity 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. According to the plaintiffs, commission sharing inflates the costs for consumers, in violation of the Sherman Antitrust Act. In fact, the U.S.

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MLS Branding Agents Brokerage 505

Housing Wire

AUGUST 26, 2024

“Not only do you have young families and investors looking at starter homes, you also have buyers who have been forced to consider less-expensive options due to near-record home prices. This is being “aided by significant spikes in inventory,“ the brokerage reported.

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Sales Brokerage Investor Closing 448

Housing Wire

NOVEMBER 4, 2024

The arrangement known as cooperative compensation allows sellers to choose to offset the cost of buyers’ agents. By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced. In a bidding war, cash buyers and investors will win, and first-time buyers will lose.

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Debt-to-income ratio Agents VA loan MLS 313

Housing Wire

SEPTEMBER 30, 2024

The national real estate brokerage analyzed household income levels and monthly housing payments to calculate its affordability metric. Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. When comparing income to the cost of monthly mortgage payments, the typical buyer now earns 8.9%

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Mortgages Brokerage Sales Loans 475

Housing Wire

OCTOBER 25, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S.

VA loan 442

VA loan Purchase and sale agreement Loans Agents 442

Housing Wire

SEPTEMBER 10, 2024

With competition for online leads heating up, we think AgentFire’s brand-first approach can be a game changer for brand-conscious agents, teams and even boutique brokerages. Their most customized, fully supported options are expensive, but they are perfect for teams and brokerages with established brands and lead nurturing systems in place.

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Brokerage Agents Branding Land 433

Housing Wire

DECEMBER 26, 2023

There is no question that the headline of the year in 2023 for many publicly traded brokerages was the commission lawsuits. With mortgage rates trending downward in recent weeks and economists expecting them to further recede in 2024, analysts are feeling guardedly optimistic about how the publicly traded brokerages will perform in 2024. “I

Brokerage 475

Brokerage Mortgages Agents Industrial 475

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. According to the brokerage, 6.5% Buyers are picky and they don’t want to pay a dollar more than they need to,” the report said. the month prior.

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Mortgages Principal Brokerage Finance 516

Housing Wire

MAY 9, 2024

In addition to RE/MAX, Anywhere and Keller Williams, NAR, Douglas Elliman , Realty One Group , At World Properties, Compass , HomeServices of America and The Real Brokerage, have also reached settlement agreements. As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 26, 2024.

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Brokerage MLS Agents As-is 397

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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Brokerage MLS Industrial As-is 420

Housing Wire

MARCH 18, 2024

Honing new skills With the settlement agreement including terms like a mandatory buyer agency agreement and a ban on displaying offers of cooperative compensation via listings on the MLS, it is understandable that some agents would like more guidance from NAR on what these terms will look like in practice. “It More off-MLS listings?

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Industrial Brokerage MLS Agents 448