Bright MLS to offer expanded concessions field
Starting in June, the field will include an option for payment of buyer agent fees, and updates coming in August will give sellers more flexibility.
May 30, 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.
Page 27 of 54
- Northwest MLS will not join NAR settlementThe organization is the first non-NAR MLS to announce its intentions, and it says keeping the compensation field provides more transparency for consumers.May 28, 2024
- What is steering? 3 scenarios to considerAgents will be navigating new territory in August, and they'll need to avoid any hint of steering. CRMLS general counsel Ed Zorn offers some tips.May 28, 2024
- Why MLSs shouldn’t shy away from concessions fieldsAs multiple listing services work to comply with new rules, some worry about liability risks — but including concessions could be a competitive advantage.May 23, 2024
- Mortgage rates fall below 7% for the first time in 6 weeksBuyers may be able to take advantage of lower rates and increasing inventory, but many are still priced out, dampening sales.May 23, 2024
- NAR continues its battle to keep DOJ case closedAn appeals court ruled that the government could reopen its investigation. NAR says that decision involved “far-reaching and exceptionally important” errors.Updated May 21, 2024
- Down payments have doubled in the past 4 yearsThe latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.May 14, 2024
- 3 top takeaways from NAR’s legislative meetingsMembership numbers defied expectations, while member dues and leadership announcements paint a picture of an association focused on stability.May 13, 2024
- Judge explains the ‘why’ of rulings on settlements, attorney feesIn a 40-page filing, Judge Bough lays out his reasons for rejecting arguments from the May 9 hearing, and said lawyers can collect a third of settlement funds.May 11, 2024
- Judge approves commissions settlements for Anywhere, RE/MAX, KWDespite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.May 9, 2024
- Compass beats revenue expectations, adds agentsWhile revenue improved 10%, the company reported steep losses — but CEO Robert Reffkin was more focused on the future of buyer agents during the earnings call.May 8, 2024
- Judge denies effort to delay commissions settlement hearingBuy-side plaintiffs who claim the Anywhere, RE/MAX and KW deals go too far will still get their chance to make that argument in court May 9.May 8, 2024
- Homebuyers try to halt approval of commissions settlementsAnywhere, RE/MAX and KW deals at risk after new documents reveal a plan to include immunity from buy-side lawsuits, plaintiffs in the Batton case allege.May 8, 2024
- Redfin: Revenue is up, Kelman is bullish despite lossesEven as net losses increase, Redfin’s CEO says the company is in a good place: “When you give people a better deal, they actually beat a path to your door.”May 7, 2024
- 10% mortgage rates? Consumers think we’re headed that wayIn a recent survey by the New York Fed, consumers said they expect rates to hit 8.7% in a year and 9.7% in three years.May 7, 2024
- Redfin to pay $9.25 million to settle commissions casesThe company is the 10th brokerage to agree to pay into a settlement fund, which is approaching $1 billion.May 6, 2024
- NAR clarifies new rules for MLSs, agents — and extends deadlineThe organization has revised its MLS handbook and beefed up its FAQ to help explain what’s changing, while giving NAR members until Aug. 17 to comply.May 3, 2024
- RE/MAX sees dip in revenue, agents in first quarterFollowing a series of leadership changes, the company is focusing on cutting expenses as it navigates the tough real estate market.May 2, 2024
- Mortgage rates keep climbing. Will buyers give up?Rates are likely to stay higher for longer, but as inventory builds, pent-up demand and more home choices could entice buyers — if they can afford it.May 2, 2024
- Negotiation will be the most essential skill for buyer agentsOnce new rules go into effect — between July and September — agents will need to embrace “the new regime” to avoid liability, and to ensure they get paid.May 2, 2024
