Plaintiffs seek whopping $4.7 billion from HomeServices
The last defendant in the Sitzer/Burnett commissions case said it anticipated the motion and will respond with its own court filings in April.
March 18, 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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- Homebuilder sentiment at highest level since last summerLow existing home inventory and the expectation of falling interest rates continue to drive builder optimism. Also, housing starts are up 5.9% vs. last year.March 18, 2024
- 90-plus brokerages left out of NAR commissions deal. What’s next?Top companies and MLSs outside the settlement can take part in a streamlined process to pay into a fund — but it could cost millions.March 15, 2024
- NAR commissions settlement details revealedCourt documents outline a payment schedule and a series of rule changes, including the elimination of offers of compensation through the MLS.March 15, 2024
- Commissions cases: The next 90 days could change everythingThree key decisions, including the Sitzer/Burnett judgment, are expected this spring — and they could determine what happens next for the industry.March 14, 2024
- Mortgage rates see biggest weekly drop since DecemberRates eased this week, but they will likely remain elevated throughout the spring months as the Fed waits to take action on interest rates.March 14, 2024
- Twice as many sellers are looking to relocate in 2024A Coldwell Banker survey found a big increase in the number of sellers willing to move to another city or state as price considerations now outweigh location.March 13, 2024
- Realtor.com listings now display 5 climate risk factorsBuyers can see heat, wind and air quality ratings in addition to the existing flood and wildfire ratings, which can “help reduce surprise costs.”March 13, 2024
- U.S. Housing Secretary Marcia Fudge to step downFudge, a longtime advocate for affordable housing, announced she will leave her HUD post on March 22.March 11, 2024
- $30 billion savings from ‘a la carte’ commissions?New research from the Federal Reserve puts a price tag on changing agent compensation, pushing for it to be independent of the price paid for the home.March 9, 2024
- Biden plan aims to boost housing supply, improve affordabilityProposals announced by the Biden administration ahead of the State of the Union earmark billions in tax credits and grants to increase homeownership.March 7, 2024
- Opendoor dropped from Nevada commissions lawsuitThe Whaley case had been the only major copycat lawsuit to name the company as a defendant.March 7, 2024
- Mortgage rate dip leads to jump in activityRates fell slightly this week, ending a four-week run of increases, and mortgage applications were up nearly 10%. Inventory and consumer sentiment are also up.March 7, 2024
- Las Vegas Realtors vows to ‘produce a victory’ in Nevada casesThe 17,000-member association speaks out, saying it will “vigorously defend” two lawsuits targeting NAR, Nevada associations and MLSs, and brokerages.March 5, 2024
- Howard Hanna dismissed from Illinois commissions suitHanna was removed from Batton 2, marking the second time this year that the family-owned brokerage has been dropped from a buyer-broker compensation case.March 5, 2024
- Commissions case ensnares Warren BuffettBuffett’s Berkshire Hathaway Energy — parent of HomeServices of America — added as a defendant in the Gibson case as filing calls out the billionaire’s actions.March 4, 2024
- Will judges merge commissions copycats into one huge case?Defendants have submitted dozens of responses to a consolidation proposal — and most oppose the move.March 2, 2024
- 3 things agents should know about new construction buyersA Realtor.com survey of new home buyers reveals who is buying and what they want from real estate agents — their advocates in the purchase process.March 1, 2024
- Mortgage rates continue to climb, but it’s not all bad newsThere are signs that inventory is building, which could take some pressure off the market and increase options for buyers who can stomach the elevated rates.February 29, 2024
- ShowingTime+ gives Howard Hanna exclusive access to AI toolZillow’s Listing Showcase product will be available only to Hanna agents in the Cleveland and Pittsburgh metros.February 28, 2024
