The real estate tech firm says it will use the increase on new marketing channels and product changes while a critic says high referral fees lead agents to inflate commissions and skimp on service. Continue reading
Federal court in Seattle grants the discount brokerage’s motion to compel on the grounds that the data could show whether Zillow and NAR caused harm to REX or to competition in general. Continue reading
In a report on Wednesday, the Consumer Federation of America found the median commissions listing agents offered to buyer agents ranged from 1 percent in parts of Brooklyn to 3 percent in Manhattan. Continue reading
The companies submitted a joint filing to the New York Supreme Court on Oct. 4 asserting they had agreed to end the litigation permanently and that each side would pay their own costs. Continue reading
Calling it a “kickback scheme,” HomeOpenly CEO Dmitry Shkipin told the FHFA to ban referral fees charged by online brokerages — including Zillow — that don’t actually buy and sell property. Continue reading
The Council of Multiple Listing Services has hired Alicia Batts and Dylan Carson to help the trade group exert influence over MLS-related decisions at the antitrust enforcement agencies. Continue reading
The brokerage argued that Bob Goldberg and Katie Johnson, among others, were responsible for NAR policies “limiting both how homes are listed online and the negotiation of commissions.” Continue reading
Judge M. Page Kelley noted the real estate holding company formerly known as Realogy allegedly perpetuated NAR and MLS PIN’s “substantively identical” buyer broker commission rules. Continue reading
Chris Osborn, Mitch Skinner and Claude Szyfer offered an update on multiple industry antitrust lawsuits at the Council of Multiple Listing Services’ annual conference. Continue reading
At the Council of Multiple Listing Services’ annual conference, CEOs discussed being ready for the possible death of the commission structure and why MLSs should be run as businesses. Continue reading