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Tag: settlement

Judge approves Rocket’s $3.5M settlement over unpaid employee overtime

June 13, 2024 No Comments Real estate , , ,

A judge in Arizona has approved a $3.5 million settlement agreement between Rocket Mortgage and current and former employees who alleged in a class-action-seeking lawsuit that the company did not provide sufficient overtime pay, according to court documents reviewed by HousingWire. U.S. District Court Judge Douglas L. Rayes mentioned in the decision that the agreement [...]read moreJudge approves Rocket’s $3.5M settlement over unpaid employee overtime

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

MLSs Remain Valuable Tools After The NAR Settlement

June 11, 2024 No Comments Real estate , , ,

As compliance becomes even more top of mind for the industry, Realtracs CEO Stuart White writes, MLSs have an enhanced role as a reliable resource to support professionals in following developing processes and procedures. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will [...]read moreMLSs Remain Valuable Tools After The NAR Settlement

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

NAR Says Settlement ‘eliminates’ Steering — But Plaintiffs Issue Warning

June 8, 2024 No Comments Real estate , , ,

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. After the topic of agent steering caused a kerfuffle at its latest conference, the National Association of Realtors says its proposed settlement of multiple antitrust [...]read moreNAR Says Settlement ‘eliminates’ Steering — But Plaintiffs Issue Warning

Bank Launches Spanish Website In Wake Of Redlining Settlement

May 31, 2024 No Comments Real estate , , ,

Washington Trust “vehemently” denied the allegations leveled by the Justice Department last fall, but agreed to invest and spend at least $9 million to improve access to mortgage credit in minority neighborhoods in Rhode Island. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions [...]read moreBank Launches Spanish Website In Wake Of Redlining Settlement

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

NextHome CEO On The ‘Stupidest’ Part Of The Commission Settlement

May 22, 2024 No Comments Real estate , , ,

James Dwiggins spoke at the inaugural Inman Connect Miami on Tuesday, arguing that clinging to the current status quo when it comes to commissions is a recipe for disaster. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities [...]read moreNextHome CEO On The ‘Stupidest’ Part Of The Commission Settlement