New York Times bestselling author Larry McDonald and a real estate entrepreneur have started to echo similar warning signs amid "massive" issues within the commercial sector.
A federal court judge denied a request from the defendants to suspend the case pending the outcome of post-trial motions after the Sitzer | Burnett verdict.
Las Vegas resident Nathaniel Whaley alleges the National Association of Realtors, the Northern Nevada Regional MLS and state and local Realtor groups conspired to inflate broker commissions.
The Consumer Federation of America released a new report revealing a critical issue in the real estate industry: a significant surplus of agents, with over 1.5 million selling just 5-6 million homes annually. This glut leads to most agents being unable to sustain themselves solely on sales commissions, contributing to widespread incompetence and pressure to maintain high commission rates. Additionally, the ease of obtaining a real estate license, with minimal educational requirements in many states, exacerbates this problem.
On today’s episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about inflation, mortgage rates and inventory as we gear up for the spring homebuying season.
The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.
On today’s episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about the percentage of homes taking a price cut this spring and why he thinks that number will fall. The two also discuss inventory and mortgage rates.
The commission lawsuit wave seems to be unstoppable! A new case in California names the National Association of Realtors along with 35 real estate companies.
The class action wants to cover anyone in the counties of Los Angeles, Madera, Fresno, Merced, and Mariposa. The complaint estimated the number of class members to be in the “many thousands.”
Case Details
Case Name: Gael Fierro et al v. National Association of Realtors et al
Filing Date: January 17, 2024
Class Action Period: January 17, 2020 - January 17, 2024
The Plaintiffs
Gael Fierro and Patrick Thurber
Complete Defendant List
National Association of Realtors
The Agency Real Estate Franchising
Compass
eXp World Holdings
eXp Realty of California
eXp Realty of Southern California
eXp Realty of Greater Los Angeles
eXp Realty of Northern California
Berkshire Hathaway
BHH Affiliates
First Team Real Estate Orange County
Rodeo Realty
Pinnacle Estate Properties
California Regional Multiple Listing Service
Combined L.A./Westside MLS
California Association of Realtors
Greater Los Angeles Realtors
Arcadia Association of Realtors
Burbank Association of Realtors
Citrus Valley Association of Realtors
Glendale Association of Realtors
Inglewood Board of Realtors
Montebello District Association of Realtors
Palos Verdes Peninsula Association of Realtors
Pasadena-Foothills Association of Realtors
Rancho Southeast Realtors
South Bay Association of Realtors
Southland Regional Association of Realtors
Tri-Counties Association of Realtors
West San Gabriel Valley Realtors
Malibu Association of Realtors
Southwest Los Angeles Association of Realtors
Madera Association of Realtors
Fresno Board of Realtors
Merced County Association of Realtors
Mariposa County Board of Realtors
The Allegations
Unlike other MLSs, MetroList is not exclusively owned or operated by Realtor associations affiliated with the NAR. Instead, local Realtor associations and California Real Estate Brokers, Inc., own and operate MetroList.
Despite lacking affiliation with NAR, MetroList has adopted a rule similar to NAR’s Participation Rule. It requires listing agents to make a blanket offer of compensation to buyers’ brokers for listing a property on the MLS.
The complaint alleges that by “agreeing to adopt, implement, and enforce” the Anticompetitive Broker Rules, the defendants participated in a conspiracy to limit fair competition. This conspiracy involved requiring Class Members to pay the broker representing the buyer of their homes and pay inflated commissions.
The plaintiffs demand a jury trial, damages, and a permanent injunction preventing the defendants from requiring sellers to pay the buyer broker.
Both eXp and Keller Williams now face multiple “copycat” lawsuits along with NAR!
The real estate market showed some promising signs at the end of 2023. What signals can we already see in the data for 2024?
Watch the replay of our January 18th webinar with Altos President Mike Simonsen, who'll look at the early signals for the market's trajectory in the coming year. He’ll give an update on interest rates and talk about what to expect when it comes to inventory and prices. He'll also dive into what's happening across the country in specific local markets.
Topics will include:
- How 2023 closed out, and where the market stands right now - Which key market indicators we're watching for early 2024, and what the data is already telling us - An update on home prices, and where this is likely headed - What stable interest rates mean for the market - How to talk to buyers and sellers about the data … and more.
Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.
Featuring Mike Simonsen, President of Altos Research
A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.
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Zillow just released its trend predictions for 2024 and, from hot housing markets to the ideal starter home, the real-estate platform's findings are shocking.
Welcome to our special 2024 episode where we delve deep into the relationship between interest rates and election years. Join us as we discuss with industry experts Mike Morrison and Bryan LaFlamme, exploring decades of data to debunk common myths. This episode is a must-watch for anyone in the real estate and finance sectors, providing valuable insights into how presidential elections impact interest rates. Don't miss out on this informative session that could reshape your understanding of the market dynamics in election years.
00:00 What is Probate? 0:51 Four Parts to Presentation 1:05 What a Probate Is 8:16 How The Typical Probate Works 16:18 How To Make Your Probate Easier 21:15 If You Want Your Survivors to Avoid Probate 24:01 Summary 26:50 Q&A
In this story, Mansion Global highlights 10 luxury properties in the Arizona market. These properties are among the most desirable in the area and feature stunning views, upscale locations, elegant living spaces, and many extras. Learn more about these eye-catching properties below.
Madison Ventures Plus managing director Mitch Roschelle analyzes the most overpriced housing markets in the U.S. on 'Varney & Co.' #foxbusiness #varney
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York - the business capital of the world - FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
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