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.
- 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
- 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
- Real estate in for a fright as mortgage rates return to 7%The latest numbers suggest that, for the third consecutive fall season, rates will crest that dreaded threshold.October 28, 2024
- New home sales take off; market remains grounded overallSeptember’s lower mortgage rates may have given a boost to the new construction sector, but buyer enthusiasm could be waning as rates climb back up.October 24, 2024
- A disappointing September pushes home sales to 14-year lowLower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.October 23, 2024
- Rising rates a bummer for buyers, but builders are more bullishMortgage rates moved up again, but for the market as a whole, “the worst may be behind us.” Plus, improving builder optimism could mean more future supply.October 17, 2024
- NAR appeals to Supreme Court in DOJ battleThe trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.October 10, 2024
- Howard Hanna dismissed from Pennsylvania commissions caseWest Penn MLS was also dismissed, with the judge ruling there was no evidence of a conspiracy between the parties to fix rates.October 8, 2024
- KW and other firms supporting agents impacted by hurricanesKW Cares has sent more than 450 generators to associates in the Carolinas, while RE/MAX and Anywhere are helping direct funds to affected agents.October 1, 2024
- Newly ID’d opt-ins will add $30 million to NAR settlement fundPlaintiffs in the Sitzer/Burnett commissions case are seeking preliminary approval for deals with 15 non-Realtor MLSs and 13 real estate brokerages.September 30, 2024
- A double dose of good news for housing affordabilityHome Price Index went up 4.1%, while starter homes are more affordable than they’ve been in four years — in part due to a shift in perspective.September 30, 2024
- Private firm completes controversial REcolorado acquisitionNew owner aims to make Colorado’s largest MLS more subscriber-centric and simplify transactions as associations pledge “to create exciting new opportunities.”September 27, 2024
- Lower rates attract refinancing — are home buyers next?While touring is up, mortgage purchase applications and pending sales are subdued. Inventory shows some promise but “extra stale” listings have increased.September 26, 2024
- Sluggish August caps off ‘disappointing’ summerExisting homes sales were down 4.2% year-over-year as prices kept climbing, keeping buyers sidelined. The good news: Inventory continues to build.September 19, 2024
- It’s decision time for the Fed, but it may be coming too lateWhile a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.September 17, 2024
- Mortgage rates plunge to lowest level in 15 monthsRates are edging closer to 6%, but the downward trend still hasn’t translated into sales as potential homebuyers play the waiting game.August 29, 2024
- Home prices have been rising for more than a decadeThe housing market has seen its share of highs and lows in recent years, but appreciation has only moved in one direction: up. Could that be changing?August 27, 2024
- DOJ files antitrust lawsuit against RealPageThe federal agency claims that the rental software company’s product is keeping rents high and stifling competition.August 23, 2024
- Mortgage rates still not low enough to spark buyer interestThe Fed is expected to cut interest rates next month, but it could take a big drop to spur a rebound in sales — though things are starting to look up.August 22, 2024
- Home tours, refis on the rise, but purchases remain tepidMortgage rates were relatively flat this week, remaining just under 6.5%, but buyers appear to be biding their time and waiting to see if rates fall further.August 15, 2024
- As revenue falls, is it time for RE/MAX to rethink its model?Agent count has also continued to decline, and CEO Erik Carlson said they are looking at all aspects of their business in preparation for an industry rebound.August 9, 2024
- Are consumers giving up on homebuying?The latest sentiment survey from Fannie Mae shows declining optimism, with more consumers now saying they plan to rent when they make their next move.August 7, 2024
- Top 3 takeaways from a hot summer week of economic newsThe jobs report was the biggest surprise, and it had an immediate impact on mortgage rates. Meanwhile, inventory continues to build.August 3, 2024
- Buyer agent commissions already falling, new report findsRedfin reports that the typical commission for buyer agents slipped to 2.55% ahead of the August 17 deadline for rule changes related to the NAR settlement.August 2, 2024
- ShowingTime returns to two large MLSs after settlementMembers of ARMLS and Metro MLS will be able to choose between ShowingTime and Aligned Showings after resolution of a lawsuit filed by Zillow in December.August 2, 2024
- No rate cuts yet, but they're 'on the table'As expected, the Fed held steady on rates today, but signaled the possibility of cuts in September. That might not mean big drops in mortgage rates, however.July 31, 2024
- Major MLS inks agreement to tap international marketThe Houston Association of Realtors formed a data share partnership with the largest Latin American MLS, giving members access to listings across 22 countries.July 30, 2024
- CRMLS removes key concessions detailsThe organization added a concessions field in May that allowed listing agents to specify an amount or percentage — but opted to remove those options this week.July 30, 2024
- Buyers continue to hold out as rates stay putMortgage rates remained nearly flat as the market awaits the Fed’s next move. Meanwhile, inventory is still growing — but “sellers are pulling back.”July 25, 2024
- Pocket listings lawsuit gets (another) new lease on lifeA U.S. District Court judge has approved a motion from the plaintiffs requesting reconsideration of a case originally filed against NAR in 2020.July 24, 2024
- KW surpasses $2B in profit sharesThe profit-share program, which made headlines last year after the company proposed changes, hit a new milestone with the multibillion-dollar figure.July 22, 2024
- A top eXp exec jumps to fast-growing cloud-based brokerageFormer eXp Chief Growth Officer Michael Valdes will spearhead the international expansion of LPT Realty, which he says is perfecting the model eXp pioneered.July 22, 2024
- Mortgage rates tumble; time for buyers to ‘get serious’Despite falling rates, homebuyer demand remains weak. Now could be a chance to make offers before inventory tightens and prices rise further, one expert says.July 18, 2024
- Rate cuts are looking more likely — but not quite yetMortgage rates dipped this week, and the latest inflation and jobs data increase the chance of a rate cut in September.July 11, 2024
- New MoxiWorks CEO poised to disrupt real estate techEric Elfman took the helm at the proptech giant in June and is ready to take on competitors, go deeper with AI and “get back to customer-centricity.”July 9, 2024
- Little chance of an inventory explosion this yearATTOM’s midyear review looks at where housing supply is headed along with what to expect with home prices and foreclosures.July 1, 2024
- More commissions cases paused ahead of November hearingTwo cases involving REBNY as well as the Nosalek case are now on hold, but a Pennsylvania case will move forward — and so will MLS PIN.June 28, 2024
- New home sales plummet, but prices barely budgeMay sales were well below April numbers and down 16.5% year-over-year, a sign that builder incentives may not be enough to overcome high rates and prices.June 26, 2024
- Brokerages 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.June 25, 2024
- Judge 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.Updated June 25, 2024
- Only one rate cut is coming in 2024The Federal Reserve left rates unchanged despite some easing of inflation, but signaled that more cuts are likely next year.June 12, 2024
- Offerpad partners with Realtor.com to expand cash offersThe search portal integration is the iBuyer’s latest move as it focuses on growing market share through partnerships and agent incentives.June 11, 2024
- 3 top takeaways from NAR’s updates on steeringNew additions to the National Association of Realtors’ settlement FAQ page reinforce the idea that the client comes first, not the commission.June 8, 2024
- Company joins in appeal of commissions settlementsIn a previous objection, Spring Way — a former plaintiff in a copycat case — said the amount paid by Anywhere, RE/MAX and KW won’t cover all “injured parties.”June 7, 2024
- After backlash, Bing is removing MLS listingsIndustry leaders began sounding the alarm last week after seeing unlicensed data on a portal-like section of Microsoft’s search engine.Updated June 10, 2024
- The best medicine for MLS ‘disruption’? Info, says Unlock CEOThe Austin-based MLS will roll out mandatory changes a few days early to help its members “own the moment” in August and beyond.June 4, 2024
- Bright MLS to offer expanded concessions fieldStarting 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
- 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
- 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
- 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
- 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
- eXp hopes to stem agent losses with rev share updatesDuring an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.May 1, 2024
- KW CEO on emerging from the wilderness, looking to the futureMark Willis returned to Keller Williams after a 7-year hiatus, and he’s ready to lead in a new way. “It’s not about proving myself. It’s about impact.”April 30, 2024
- NAR president to industry executives: ‘I’m sorry’“We fought as hard as we could,” said Kevin Sears this week when speaking about the settlement, its impact, and the need to change the media narrative.April 26, 2024
- Mixed market signals: Mortgage rates shoot up, sales trend positiveEven as interest rates and prices keep rising, new and pending home sales have ticked up.April 25, 2024
- Home sellers make another bid for consolidation in MissouriPlaintiffs in Umpa and Gibson have asked the court to merge the two lawsuits. The antitrust cases cover similar ground and name several of the same defendants.April 22, 2024
- Supreme Court to HomeServices: Sitzer/Burnett verdict standsThe brokerage lost its bid to have the verdict tossed out, leaving it with fewer options as the lone defendant in the landmark commissions case.April 15, 2024
- Keller Williams hit with another telemarketing class-actionAfter reaching a $40 million settlement in a separate case a year ago, the brokerage faces new allegations of sending unsolicited text messages.April 3, 2024
- HomeServices responds to massive damages requestThe firm argues that existing settlements in Sitzer/Burnett need to be finalized before a judgment can be made — and that won’t be an “uncontroversial” process.April 1, 2024
- Why all eyes are on the Nosalek caseCMLS is the latest organization to weigh in on the Massachetts case, while a dispute with the DOJ could shed light on the fate of compensation rules nationally.April 1, 2024
- Herding the commissions copycats: Judges to hear argumentsEven as settlements continue to roll in, a panel of judges will hear arguments tomorrow about merging the remaining buyer agent commission lawsuits.March 27, 2024
- Spring kicks off with rising mortgage ratesHomebuyers may have more choices, but financing continues to be challenging.March 21, 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
- 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
- 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
- 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
- Home price growth bucked historical norms in 2023Despite market challenges, the Case-Shiller Index was up 5.5% annually in December, exceeding national averages over the past three decades.February 27, 2024
- eXp drops nearly 2K agents in fourth quarter as profits fallThe company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.February 22, 2024
- Mortgage rates near 7% are stalling salesInventory is building as buyers stay on the sidelines, but there’s still hope for more activity as the spring shopping season gets underway.February 22, 2024
- Zillow beat revenue expectations in fourth quarterWhile still posting a net loss, the company reported higher-than-expected revenue from its residential and rental businesses as Premier Agent held steady.February 13, 2024
- Don’t count on rate cuts in the first half of 2024Economists say inflation is not falling fast enough to convince the Federal Reserve to lower interest rates.February 13, 2024
- HomeServices takes commissions fight to Supreme CourtThe remaining brokerage defendant asserts that Sitzer/Burnett should have gone to arbitration rather than trial.February 5, 2024
- Rates have stabilized — what does that mean for spring sales?A continued increase in mortgage applications suggests that more buyers are entering the market, but low supply could suppress activity.January 25, 2024
- Mortgage rates drop to lowest level in 8 monthsLower rates are good news for buyers, but increased demand could further erode limited inventory.January 18, 2024
- Mortgage rates tumble, reach lowest level since JuneFor those who can find a home to buy, falling rates will provide significant relief.December 21, 2023
- Rates fall below 7%, driving momentum in the marketThe seventh straight week of mortgage interest declines has led to more holiday season homebuying activity.December 14, 2023
- Mortgage rates flirt with the 7% mark, could drop furtherIt’s the sixth straight week of declines, coinciding with signals that the economy is cooling.December 7, 2023
- Florida commissions lawsuit targets largest state associationThe Florida Association of Realtors and 16 brokerages are named in the seventh major antitrust case filed by home sellers since the Sitzer/Burnett verdict.Updated December 12, 2023
- New commissions lawsuit names Pennsylvania MLS, brokeragesWest Penn MLS and multiple brokerage companies are defendants in the latest buyer-broker commission suit filed Monday by home sellers in Western Pennsylvania.December 5, 2023
- Redfin settles class action case over wagesMore than 2,700 Redfin agents are eligible for compensation from the $3 million settlement payout.December 1, 2023
- DOJ asks Court of Appeals to reopen case against NARThe DOJ wants to revisit an antitrust case originally settled in 2020, and if successful, could demand even more changes to commission practices.December 1, 2023
- Despite economic volatility, most people can still pay their mortgagesThe latest CoreLogic report shows delinquencies at record low levels, although there are some warning signs.November 30, 2023
- Falling rates and rising inventory a good combo for buyersRates edged closer to the 7% mark this week, improving affordability. Coupled with a small bump in listings, that could mean more year-end sales.November 30, 2023
- Music City hitting the right note for those looking to moveNashville, which offers a mix of relatively affordable home prices and a low cost of living, made it back onto Redfin’s latest migration destination list.November 29, 2023
- 2024 will be a better year for buyers — but how much better?Forecasts from Realtor.com and Bright MLS offer varying degrees of optimism, with a split on inventory and an eye on wild cards like inflation and the election.November 29, 2023
- Rising home prices push up Fannie Mae, Freddie Mac loan limitsThe 5.5% increase for 2024 “seems like a pretty good indication,” that the Federal Housing Finance Agency expects home prices to keep increasing.November 28, 2023
- Home prices spiral upward, worsening affordabilityA collection of reports show that high mortgage rates weren’t enough to dampen price increases as demand continues to outpace supply.November 28, 2023
- Anywhere, RE/MAX settlements receive preliminary approvalThe agreements, which cover multiple buyer-broker commissions lawsuits, were deemed “fair, reasonable and adequate” by the judge.Updated November 22, 2023
- AI 'more disruptive' than lawsuits, Sanford tells eXp agentsNew buyer agency agreements are coming (though agents don't have to use them), but the focus should be on relationships, eXp’s CEO said in a YouTube broadcast.November 16, 2023
- Mortgage rates dip to lowest level since SeptemberAs rates decline for a third straight week, mortgage applications have risen, suggesting the possibility of a jump in year-end home sales.November 16, 2023
- Massachusetts plaintiffs want in on commission settlement dealsPlaintiffs in the Nosalek case want to reach a deal with RE/MAX and Anywhere following the brokerage companies’ settlements in Sitzer/Burnett and Moehrl.Updated October 31, 2023
- A reprimand, but no mistrial despite objections from the defenseDefense attorneys argued that an “ambush video” introduced Tuesday in the Sitzer/Burnett trial was grounds for a mistrial, but the judge disagreed.October 25, 2023
- Transformative changes are coming, says retiring MLS leaderNWMLS CEO Tom Hurdelbrink says brokerage expansion is changing how MLSs operate, and lawsuits could spur an industry-wide “generational and tectonic shift.”September 2, 2023
- NAR membership up even as transactions declineMember count increased by more than 6,500 in July, but the "fiercely competitive business environment" could spur attrition in the coming months.August 6, 2023
