IndustryReal estate pros deeply dissatisfied with NARWhen asked to evaluate NAR’s overall performance, 62% of respondents in a T3 Sixty survey said they disapproved of the organization.AJ LaTraceJune 25, 2024
BrokeragesBrokerages ask court to dismiss buy-side commissions caseThe five defendants in Batton 2 — Compass, eXp, Redfin, Weichert and United — filed a joint motion, arguing that the claims are untimely and lack merit.Dave GallagherJune 25, 2024
MLS/AssnDeal in place to sell REcolorado to private firmThe associations that own the 16th-largest MLS surprised its leaders with a deal that “scared the absolute hell out of us,” REcolorado’s vice chair said.Stephanie Reid-SimonsJune 24, 2024
BrokeragesEngel & Völkers settles in commissions caseThe global brokerage reached an agreement with home sellers last week, according to a court filing.Dave GallagherJune 24, 2024
MLS/AssnJudge issues stay in MLS PIN caseThe plaintiffs argued that the proceedings should move forward, but the DOJ wants to delay approval of the deal — and the judge appears to have been swayed.Dave GallagherUpdated June 25, 2024
TechTech Bytes: Inside Real Estate rebrands, Collabra expands reachInside Real Estate pulls together kvCORE and other products into BoldTrail; Collabra joins CoreLogic Real Estate Alliance Network; and more tech news.Real Estate News StaffJune 24, 2024
AgentsIn NYC, brokers are fighting for 10-15%, not 6%New York is one of only two cities where landlords can hire brokers and require renters to pay them. This may be changing — but not if the industry has its way.Stephanie Reid-SimonsJune 22, 2024
BrokeragesBrokerage Beat: News from KW, RE/MAX, The AgencyChicago-area team joins Keller Williams Infinity; team leader joins Detroit RE/MAX franchise as broker/owner; The Agency opens fourth Texas office.Real Estate News StaffJune 22, 2024
MLS/AssnDOJ ‘formal inquiry’ delays release of C.A.R. formsThe California Association of Realtors informed members that the DOJ expressed concern over new forms related to the NAR settlement and MLS practices.Amie FisherUpdated June 24, 2024
IndustryPeople on the Move: CEO changes at Bluegrass, Raleigh associationsRichard Gibbens will take on the top leadership role at Bluegrass Realtors and Imagine MLS; Dave Phillips, CEO of RRAR, announces his departure.Real Estate News StaffJune 21, 2024
By the NumbersHome prices soar even as sales, construction slowThe median sale price for existing homes hit a record $419,300 in May, NAR reported, but home sales were lackluster and new construction has cooled.AJ LaTraceJune 21, 2024
IndustryDOJ says REX deserves a do-over in Zillow/NAR caseCan NAR’s optional rules still add up to anticompetitive behavior? Yes, the Department of Justice says in a brief filed June 20 in the case of REX vs. Zillow.Stephanie Reid-SimonsUpdated June 21, 2024
By the NumbersBuyers get a slight reprieve as rates fall, sellers cut pricesThere could be a window of opportunity for would-be buyers as mortgage rates continue to ease and homes sit on the market longer, prompting price cuts.AJ LaTraceJune 20, 2024
MLS/AssnNAR employee files discrimination suitA former project manager said she was subjected to sexual harassment and retaliation in a lawsuit filed June 18 in Illinois District Court.Stephanie Reid-SimonsJune 20, 2024
Industry'Unfiltered': How agents can show their value in 5 minutesWatch the conversation with CubiCasa leader Jeff Allen as he discusses the “magic” of capturing floor plans and how they can boost agents’ value proposition.Real Estate News StaffJune 20, 2024
IndustryWho opted in to the NAR settlement? ‘It’s all over the place’The path is more clear for MLSs than brokerages, according to a top industry lawyer. The National Association of Realtors, meanwhile, had no comment.Stephanie Reid-SimonsUpdated June 20, 2024
IndustryPeople on the Move: New CFOs at CoStar, Inside Real EstateThe companies have hired veteran financial executives to support growth efforts, with Chris Lown joining CoStar and Chris Black joining the proptech leader. Real Estate News StaffJune 19, 2024
By the NumbersHousing Market Decoded: Why is inflation so sticky?It’s all about housing, which has an outsized effect on the Consumer Price Index — and is contributing to the Fed’s lack of action on interest rates.Lisa SturtevantJune 19, 2024
IndustryFreedom Mortgage hit with $4 million fineThe company, which has been dubbed a “repeat offender” by regulators, faces another penalty for submitting inaccurate loan data.Dave GallagherJune 18, 2024
IndustryOpt-in day is here — who’s in?Connecticut’s SmartMLS reluctantly decides to join the NAR settlement. Other MLSs and brokerages have until the end of the day to opt in.Dave GallagherUpdated June 20, 2024