The DOJ has spoken. Are buyer agreements at risk?
With the NAR settlement on the cusp of approval, a filing from the Department of Justice cast a shadow on a core part of the deal. Now what?
November 26, 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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- DOJ’s Sunday filing raises issues with NAR dealThe agency takes no position on the settlement’s approval but says it’s not an antitrust shield — and expresses concern over buyer agent agreements.November 24, 2024
- NAR, HomeServices prepare to close the chapter on litigationBarring any surprises, the two largest settlements in the Sitzer/Burnett commissions case — totaling nearly $700 million — will be finalized in just a few days.November 23, 2024
- ‘Forced membership’ case now alleges deceptive practicesAgents suing NAR over membership requirements say associations no longer offer any benefit, while eight defendants were dropped from a Georgia commissions case.November 22, 2024
- Home sales jumped in October, but rally may be short-livedThe turnaround for existing sales came at a time when mortgage rates were closer to 6%. With rates on the rise, economists are dialing back sales forecasts.November 21, 2024
- Home values now rising faster in areas with lower climate risksThe reversal follows 14 years of larger gains for homes in high-risk areas, suggesting that buyers may be less willing to move to disaster-prone regions.November 20, 2024
- In the courts: Settlement objectors, Homie, and mandatory membershipJudge holds firm on rules for objectors to NAR settlement; Homie says defendants created a "weapon"; another broker challenges association membership.November 19, 2024
- 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
