In the courts: Settlement objectors, Homie, and mandatory membership
Judge holds firm on rules for objectors to NAR settlement; Homie says defendants created a "weapon"; another broker challenges association membership.
November 19, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Builders more optimistic about home sales post-electionThe construction industry expects the new administration to loosen regulations, which could boost sales, though other challenges remain.November 18, 2024
- Homebuying demand ticks up despite elevated ratesWith the election over and rates appearing to stabilize, more would-be buyers were looking at homes this past week.November 14, 2024
- Zillow president steps down, company names new COOPresident Susan Daimler is departing after 12 years at the company, while SVP Jun Choo moves into the C-suite.November 14, 2024
- Court refuses to pause eXp case citing 'questionable behavior'Judge Stephen Bough said discovery could continue into whether deals reached by eXp and Weichert with the Hooper plaintiffs constituted a "reverse auction."November 14, 2024
- Commissions relatively unchanged following NAR settlementAn analysis of more than 17,000 transactions initiated within 60 days of Aug. 17 showed only minor shifts in percentages, though transactions were down overall.November 14, 2024
- More challenges to NAR settlement; headaches for HannaA law professor says the court doesn’t have the authority to force objectors to attend in person, while in Pennsylvania, Howard Hanna’s dismissal is appealed.November 13, 2024
- NAR economist bullish on home sales rebound in 2025Yun expects existing sales to rise 9% next year and even more in 2026, though the market has proved difficult to predict in recent years.November 9, 2024
- Weichert reaches a deal in Georgia commissions caseThe franchise went the same route as eXp, agreeing to settle with plaintiffs in the Hooper case even though it was originally named in Gibson.Updated November 8, 2024
- Redfin Next commissions take a bite out of earningsCEO Glenn Kelman apologized to shareholders but also said expansion of the company’s new agent pay plan will help the brokerage “go on the attack” in 2025.November 7, 2024
- Fed action not enough to keep mortgage rates from surgingDespite a 25-point cut by the central bank, rates rose for a sixth straight week while applications fell sharply.November 7, 2024
- Zillow sees big revenue boost as it continues to beat expectationsGrowth across all major divisions, which the company attributed to strong conversions and agent partnerships, produced double-digit gains in the third quarter.November 6, 2024
- The election is over — what does it mean for interest rates?In the short term, expect "rising and more unpredictable mortgage rates." But the Fed will likely stay the course and issue a modest rate cut this week.November 6, 2024
- 4 more brokerages file preliminary settlementsThe combined deals, which total nearly $5 million, are the next step in resolving litigation for the four firms with regional and national footprints.November 5, 2024
- Judge largely dismissive of objections to settlementsIn a lengthy filing, Judge Bough outlined his reasons for approving nine brokerage settlements last week, which he said got plaintiffs “the best deal possible.”November 4, 2024
- A year after Sitzer/Burnett, are the biggest impacts yet to come?A lot has happened — leadership changes, settlements, new rules — but some say it's still too early to know how the landmark verdict will affect the industry.November 2, 2024
- The fall housing rally may have come and goneSeptember’s low rates gave pending sales a boost, but as mortgage rates climb for a fifth straight week, enthusiasm is expected to wane.October 31, 2024
- Judge approves brokerage settlements totaling $110 millionDefendants including Compass, Redfin and seven other large firms can now move on from litigation in the sell-side commissions cases.October 31, 2024
- What’s spookier, ghosts or mold? Owners and buyers weigh inIn the “spirit” of Halloween, a new survey finds that many people would settle for a haunted house over one with maintenance issues or political neighbors.October 31, 2024
- Rise in transactions, agents drives strong Q3 for CompassRevenue was also up, and CEO Robert Reffkin said top agents have been able to increase commissions “since they are now able to negotiate for themselves again.”October 30, 2024
