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Tag: Commission Lawsuit

Douglas Elliman dismissed from Batton homebuyer commission suit

June 12, 2024 No Comments Real estate , ,

Douglas Elliman is joining Howard Hanna and HomeServices of America in being voluntarily dismissed from the Batton homebuyer commission lawsuits. In their notice filed on Tuesday, the Batton plaintiffs stated that that their claims were dismissed without prejudice, noting that the ”dismissal is proper because Douglas Elliman Inc. has not yet served either an answer or a [...]read moreDouglas Elliman dismissed from Batton homebuyer commission suit

70% of agents oppose NAR settlement: Clever Real Estate

June 12, 2024 No Comments Real estate , , , , , ,

There is a large gap between how the American public feels about the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement and how real estate professionals feel about them. According to a survey published by Clever Real Estate, 67% of the general public supports the changes, while 70% [...]read more70% of agents oppose NAR settlement: Clever Real Estate

MLS PIN urges Nosalek judge to approve settlement agreement

June 11, 2024 No Comments Real estate , , , , ,

In its most recent brief, MLS PIN stated that it had reached a “fair and reasonable settlement that fully resolves the disputed antitrust claims plaintiffs have asserted in this litigation.” It added that it believes the DOJ is effectively looking to hold a trial on the merits of the settlement. “DOJ never denies that courts [...]read moreMLS PIN urges Nosalek judge to approve settlement agreement

NAR addresses steering in latest settlement agreement update

June 11, 2024 No Comments Real estate , , , , ,

The National Association of Realtors addressed concerns of agent steering in its latest update to its commission lawsuit settlement FAQs. The topic of steering — when a buyer’s agent or broker prevents buyers from seeing homes that offer commissions lower than is typical for a market or discourages buyers from considering homes that offer lower [...]read moreNAR addresses steering in latest settlement agreement update

VA issues temporary fix to allow buyer-paid broker fees

June 11, 2024 No Comments Real estate , , , ,

The U.S. 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 change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement, was anticipated late last month and commented on [...]read moreVA issues temporary fix to allow buyer-paid broker fees

Two parties appeal final approval of RE/MAX, Keller Williams and Anywhere settlement agreements

June 10, 2024 No Comments Real estate , , , , , ,

The path forward for the settlement agreements reached by Anywhere, RE/MAX and Keller Williams with the home seller plaintiffs in the commission lawsuits has become a bit murkier. Last week, two parties filed appeals with the Eighth Circuit Court of Appeals that seek to overturn Judge Stephen R. Bough’s May 9 decision to grant final [...]read moreTwo parties appeal final approval of RE/MAX, Keller Williams and Anywhere settlement agreements

Northwest MLS criticizes $418M NAR settlement agreement, opts out

May 30, 2024 No Comments Real estate , , , ,

Northwest MLS, the largest multiple listing service in the Pacific Northwest, will not take part in the $418 million agreement reached by the National Association of Realtors (NAR) in the Sitzer/Burnett case.  In fact, NWMLS said that its own rules on buyer agent compensation are fairer and more transparent than the terms NAR agreed to in March. [...]read moreNorthwest MLS criticizes $418M NAR settlement agreement, opts out

Ginger Wilcox on helping agents navigate a chaotic environment

May 24, 2024 No Comments Real estate ,

When Ginger Wilcox stepped into the role of brand president of Better Homes and Gardens Real Estate last June, many in the industry knew that the next 12 months would be challenging for the industry. But no one anticipated just how tumultuous things would get. HousingWire recently caught up with Wilcox to hear how her [...]read moreGinger Wilcox on helping agents navigate a chaotic environment

DOJ: Offers of agent compensation ’should not be made anywhere’

May 22, 2024 No Comments Real estate , , , , ,

Although Leal highlighted the DOJ’s belief that offers of compensation should not be anywhere, she did not explicitly say what specific changes the DOJ might look to pursue beyond those outlined in the terms of NAR’s settlement agreement. Additionally, she said the DOJ would make a decision about whether or not to file a statement [...]read moreDOJ: Offers of agent compensation ’should not be made anywhere’

VA to roll out temporary fix to buyer agent commission problem

May 22, 2024 No Comments Real estate , , , , , ,

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. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association‘s Secondary & Capital [...]read moreVA to roll out temporary fix to buyer agent commission problem