Last year was a tough one for the Indiana real estate market. “Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association, said. “We were up year over year in inventory, but we were at a 25 year low on new listings.” But as the calendar flipped to […]
Real estate agents gathered at the Palladium Theater in New York City’s Times Square on Thursday to learn networking and lead generation strategies from some of the nation’s top luxury real estate agents at the Goldbar Live conference. While every real estate professional had their own nuggets of advice to share, one overarching theme was […]
The plaintiffs in the Nosalek commission lawsuit and defendant MLS Property Information Network (MLS PIN) have teamed up to ask Judge Patti B. Saris if they can file separate responses to the statement of interest from the Department of Justice (DOJ). The joint motion was filed on Wednesday by MLS PIN, Jennifer Nosalek, Randy Hirschorn […]
As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers. The watchdog group reached this conclusion in a […]
The National Association of Realtors is facing yet another copycat commission lawsuit. The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. Filed on Tuesday in U.S. District Court in Los Angeles, the Freedlund suit, named after its lead — and currently only — plaintiff, Andrea Freedlund, […]
Although Compass failed to achieve its much publicized goal of being free cash-flow positive in 2023, brokerage executives were still positive about the company’s performance over the past year. “Even at these new op-ex [operating expense] levels, we continue to invest in agent growth, increasing market share, expanding our technology advantage with approximately $100 million […]
Keller Williams CEO Mark Willis took to the KW Family Reunion stage in Las Vegas Tuesday as Pitbull’s “I believe that we will win” played over the speakers. Throughout Willis’ “State of the Company” address, he regularly echoed back to the iconic Pitbull song, as he looked to motivate attendees for the coming year. As […]
Defendants in the Umpa copycat commission lawsuit filed a slew of motions on Monday as they sought to have the class-action allegations to be struck down and dismissed. Filed in late 2023 in the U.S. District Court for the Western District of Missouri, the lawsuit is named after its lead plaintiff, Maryland home seller Daniel […]
Although the Greater Boston area may still be plagued by persistently chilly temperatures, its housing market is still red-hot. According to data from Altos Research, the Boston-Cambridge-Quincy, MA-NH metropolitan area was the hottest housing market nationwide as of Feb. 23, 2024. The metro area, which comprises Southern New Hampshire and the North Shore region of […]
Less than 24 hours after announcing Nick Bailey’s departure from the firm, RE/MAX executives found themselves on a call with investors and analysts to discuss the company’s fourth-quarter and full year 2023 earnings. In his opening remarks, Erik Carlson, who was named CEO of RE/MAX Holdings in November, mentioned the promotions of Amy Lessinger, who […]
Despite slower housing market conditions, Big Four title firms Stewart, First American and Fidelity National Financial all managed to earn profits in 2023. Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 billion in 2023 and a net income of $30.4 million. Both figures were down significantly from 2022 when it […]
Nick Bailey is leaving RE/MAX. The firm announced the departure of its CEO and president on Thursday, along with its Q4 2023 and full year earnings. No reason was given for the departure. To fill Bailey’s vacant position, RE/MAX has promoted Amy Lessinger to president. Abby Lee and Susie Winders also received promotions, with Lee […]
When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit, few in the real estate industry were surprised by the agency’s desire to decouple commissions. In […]
A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. The copycat commission lawsuit was filed on Friday in U.S. District Court in Las Vegas by Nevada home seller Angela Boykin. The complaint claims that the National […]
Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday, with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB. “NAR’s insurance […]
The Department of Justice (DOJ) is asking the real estate industry to consider a world without the practice of cooperative compensation. In its statement of interest relating to MLS Property Information Network’s (MLS PIN) settlement agreement with the Nosalek commission lawsuit plaintiffs, filed Thursday evening, the DOJ recommended that Judge Patti D. Saris deny preliminary […]
For iBuyer Opendoor, 2023 was all about moderation. “We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. “We’ve done the hard work in 2023 to be leaner, to be more agile, to be […]
In an email to the board of directors on Wednesday, National Association of Realtors (NAR) President Kevin Sears announced that he and the trade organization would not be taking on any presidential initiatives throughout the duration of his term, as first reported by Inman News. Sears stepped into the role of NAR president in January […]
The parties involved in the Nosalek commission lawsuit got a sweet treat for Valentine’s Day from Judge Patti B. Saris. After three weeks of going back and forth, Saris granted the plaintiffs’ motion to administratively stay the lawsuit. As a result, the docket was listed as closed as of Thursday morning before being reopened at […]
Nearly a dozen real estate industry firms have been named as defendants in the 118 data privacy lawsuits filed in the Superior Court of New Jersey over the past 10 days by Atlas Data Privacy Corp. The lawsuits allege that the defendants, which are referred to as “data brokers,” have violated a law that prohibits […]
