Defendants fight to get homebuyer commission suits tossed

The National Association of Realtors, Keller Williams, Anywhere, RE/MAX, Compass, eXp and others offered a slew of arguments for why the Batton 1 and Batton 2 cases should be thrown out. Continue reading

Existing-home sales drop in March as high rates stun homebuyers

Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors. Continue reading

Federal courts hand HomeServices a win (and a loss) in Sitzer | Burnett

The U.S. Supreme Court denied the real estate franchisor’s request for consideration on Monday, but the plaintiffs won’t be able to lay $4.7 billion in damages at HomeServices’ feet — at least not yet. Continue reading

Will lawsuits end 6% commissions? Probably not, 1 law professor says

A provision in NAR’s settlement barring listing agents from offering buyer agents compensation is “largely symbolic,” USC professor Jordan Barry said Friday at a University of Minnesota conference. Continue reading

Judges decline to ‘centralize’ commission lawsuits for now

A panel of judges considering whether to consolidate real estate commission lawsuits into one cited the recent NAR settlement as a reason to deny the request. Continue reading

NAR President Kevin Sears sells brokerage to Anthony Lamacchia

Lamacchia had been in talks with the Sears family for years as he continued his expansion path across New England. The deal was announced this week. Continue reading

President Kevin Sears pulls back curtain on changes ahead for NAR

On the “Real Estate Insiders Unfiltered” podcast Tuesday, Sears said interim CEO Nykia Wright has agreed to extend her contract through the end of 2024 as NAR executives focus on the road ahead. Continue reading

Real Brokerage agrees to pay $9.25M to settle commission suits

The Real Brokerage agreed to change business operations as part of its proposed settlement agreement in Umpa v. NAR. Continue reading

The NAR settlement would bring ‘significant benefits’ to buyers: CFA

That includes benefits for first-time homebuyers, who might be better served by inexperienced agents. However, some benefits require changes from mortgage lenders, consumer watchdog says. Continue reading