Remove Brokerage Remove MLS Remove Seller concession
article thumbnail

Game of chicken: Private MLSs stare down DOJ over settlement terms

Housing Wire

Dawn Pfaff is a free-market evangelist, and that informs how she runs MyState MLS. While no legal statute presently outlaws these practices, the MLSs might be engaging in a game of chicken with the Department of Justice (DOJ) and the law firms that have won or settled commission lawsuits against NAR and several major brokerages.

MLS 482
article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. He said he’s also interested in seeing where homes will be listed since they will no longer be required to be in the MLS system.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

No ’horror stories’ from agents on the first weekend of NAR settlement changes

Housing Wire

Another wrinkle is that not all agents, brokerages or sellers are handling offers of buyer broker compensation the same way. The fact that we are not allowed to disclose buyers’ agent compensation in the MLS doesn’t seem beneficial to the buyer,” said Pettinelli, an agent at Providence, Rhode Island-based firm Churchill & Banks.

article thumbnail

‘Don’t panic:’ KW executives address agent questions on NAR commission settlement

Housing Wire

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.” While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing.

article thumbnail

Nation’s largest MLS now allows listings to show seller concessions

Inman

The change allows listings in the California Regional Multiple Listing Service to display whether a homeseller is willing to offer concessions in price — including to cover broker fees.

article thumbnail

Ed Zorn: Why mandatory buyer contracts are a ‘big consumer win’

Inman

California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.

article thumbnail

Bright MLS will allow sellers to offer concessions upon listing

Inman

In response to NAR's proposed settlement, the nation's second largest MLS will add data fields on June 11 allowing sellers to signal they're willing to offer buyer concessions when they list a home.

MLS 190