Pending home sales rose 4.8% in June, with all 4 US regions showing monthly gains in contract signings, the National Association of Realtors reported on Wednesday
'I hope — at the end of the day, at the end of the 2-year term — to be able to look back and say there was some stability and calm,' Sears told hundreds of ICLV attendees, many of them NAR members
California Regional MLS will continue to allow agents to indicate whether sellers will consider concessions but will no longer have the option to specify a dollar amount or percentage
JND Legal Administration, the company tapped by lawyers to oversee administrative tasks around the Gibson settlement, sent mail out to millions of potential class members earlier this year
CMLS CEO Denee Evans revealed why she believes NAR will choose not to create new MLS rules over the next six to 12 months ahead of her appearance next week at Inman Connect Las Vegas
Judge says Top Agent Network 'adequately alleged' NAR's Clear Cooperation Policy is a 'group boycott.' Meanwhile, NAR signals it may be open to repealing the rule
T3 Sixty plans to release 'The Opportunity Report' as a follow up to its 'DANGER Report' in early 2025. It says the new document will be comparable in its impactful earlier analysis of the industry
In June, existing-home sales continued to decline across all 4 US regions, while the median existing-home price reached a record high for the 2nd consecutive month, according to NAR
As agents race to comply with terms of the NAR settlement on Aug. 17, Inman wants to get a handle on your toughest questions
NextHome CEO James Dwiggins shares his thoughts on agents who use websites designed to advertise offers of compensation from listings after the NAR settlement takes effect next month
Opinion
Trump's newly appointed VP candidate introduced a bill in June that highlights the need to review RPAC's ethics policies for candidates receiving funds, Rachael Hite writes
The contestants, several of which are powered by AI, offer 3D-printed homes, a tool to identify at-risk homes and mortgage loan readiness assistance, among other products
Several brokerages reported transacting over $2B in sales in 2022. After the NAR settlement made that an undesirable number, some are stuck and trying to figure out how to move forward
The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas
As the US dollar's value and home sale prices rose from April 2023 to March 2024, international buyers shied away from investing in US real estate, according to a new report from NAR
The latest order by a court of appeals in Washington, DC, means the DOJ is free to reopen its investigation into the National Association of Realtors
Inventory is rising again, but agents are still scrounging for new listings. Hundreds of brokers and agents shared what's working in still-tight markets in new responses from the Intel Index survey
NAR Chief Economist Lawrence Yun told CNBC he expects rates to settle around 6%, a prediction he’s made several times before. A look back at 2 years of his forecasts amid a chaotic economy
NAR's 2024 Membership profile shows the impacts of a difficult market on real estate professionals — many of whom are contending with issues related to affordability and inventory
Florance says Realtor.com lawsuit against CoStar is a response to Homes.com surpassing it in web traffic and takes aim at Zillow
The franchisor and plaintiffs offered different reasons for why HomeServices has yet to finalize its commission settlement agreement after announcing it had reached one for $250M in April
In his 6 months as president, Sears has racked up time in Washington with the DOJ, focused on the trade organization's future and traveled — a lot. He shared his takeaways with Inman ahead of ICLV
Howard Hanna is the latest brokerage to be hit with a buyer commission suit seeking class-action status
Times are tough for nearly every real estate business. But different parts of the country report unique challenges and approaches, as illustrated by Intel’s monthly gauge of industry sentiment
The homesellers object that the deals' payout is 'far too low' for the 'massive' number of injured parties and that franchisees should be required to implement practice changes
In a statement sent to NAR members, Kevin Sears confirmed executives of the trade organization met with Assistant Attorney General Jonathan Kanter last week to discuss settlement updates
What do you make of commission-sharing workarounds, and how are you planning to change up your communication strategy?
Effective immediately, listing brokers and agents can submit for-sale listings to the MLS without offering any cooperating compensation to the buyer broker
High mortgage rates continued to curb homebuyer activity in May, NAR said. As inventory rises in upcoming months, slower home price growth will follow, and likely more buyers in the market
Plaintiffs allege REBNY and dozens of real estate brokerages perpetrated a 'wholly separate conspiracy' from the claims resolved by the NAR settlement, but defendants disagree
The Instagram video shows agents with 'NAR' along the back of swat team jackets bursting into a home before tackling, tasing and hogtying a Realtor who failed to remove an offer from the MLS
New report shines light on buyer representation agreements as brokerages and Realtor organizations move to update forms and comply with legal settlements this summer
Whether you're working with first-time homebuyers or helping seniors stay in their homes, the way that you support homeownership matters, writes broker-owner Teresa Boardman
Attorneys for the plaintiffs in a case now known as Moratis stress that NAR's proposed settlement won't stop 'a key element of the antitrust conspiracy' and might take years to go into effect
'The judge's decision created a loophole that could allow associations to sidestep antitrust scrutiny by cloaking restrictive rules as optional,' the DOJ's filing states
The vast majority of more than 600 multiple listing services nationwide have chosen to opt in to the National Association of Realtors' commission settlement, according to a new Inman analysis
The California Association of Realtors postponed the release of 21 forms this week after receiving feedback from members — and an inquiry from the US Department of Justice
Roshani Sheth, a former product manager for the Realtors Information Network, filed suit after an Equal Employment Opportunity Commission probe into her racial and sexual harassment claims
According to eXp’s Troy Palmquist, these professional organizations have a greater role to play in providing services to support agents
The US Department of Justice on Monday argued NAR 'does not identify any errors of law or fact meriting panel rehearing' over whether the antitrust enforcer can reopen its probe into NAR rules
Brokerages and MLSs have until 11:59 pm CST Tuesday to opt in to deals resolving antitrust claims brought by sellers targeting commissions. Inman contacted 79 brokerages for their updates
Homeowners use Redy’s interface to publish information about their home with the hope real estate agents will pay them in exchange for the listing business
The antitrust enforcer has until June 20 and 21 to give its take on three real estate-related cases and potentially influence upcoming commission changes
Jimmy Burgess and Tom Ferry talk industry changes and offer a selection of scripts that are really working right now
While the buyer-needs portal has been in the works since the Great Recession, the proposed NAR settlement could help boost the value of the company's model
The temporary rules were first announced in May ahead of Memorial Day and came in response to calls from Realtors who feared veterans would become less competitive in the new landscape
Pennsylvania homeseller Spring Way Center is seeking to overturn the court approval of deals reached with Anywhere, Keller Williams and RE/MAX to resolve antitrust commission suits
Agents who rely on NAR primarily to protect their public image are less certain the trade group — which still enjoys broad approval — is a net positive for the industry, according to Intel poll results
The National Association of Realtors' Instragram post highlighting Pride Month has garnered nearly 900 comments — the majority of them against the LGBTQ+ community
Plaintiffs' lawyer Michael Ketchmark vowed legal action to enforce deal: 'Anyone who thinks they can send a few emails or bury their head in the sand and avoid the application of the law is wrong'
The founder of luxury firm DDRE Global and star of 'Buying London' spoke with Inman about the show's icy reception, how he thinks the NAR settlement will change the industry and more
In response to NAR's proposed settlement, the nation's 2nd largest MLS will add data fields on June 11 allowing sellers to signal they're willing to offer buyer concessions when they list a home
Contract signings fell 7.7% between March and April to a score of 72.3 on the Pending Home Sales Index last month, according to data released Thursday by the National Association of Realtors
Northwest MLS says banning compensation in the MLS restricts consumer choice and transparency. Plaintiffs' attorney Michael Ketchmark says 'the fox is guarding the chicken house'
The change allows listings in the California Regional Multiple Listing Service to display whether a homeseller is willing to offer concessions in price — including to cover broker fees
The upending of NAR's cooperative compensation rule is a double-edged sword for Zillow and its rivals, experts told Inman. These are the tools and tactics they're adopting to suit the moment
Statements made by a DOJ attorney during a May 21 status hearing in the Nosalek commission case offer new insights into the Justice Department's impression of the proposed NAR settlement
Homes at the higher end of the market — priced at $1M or more — enjoyed the spoils with inventory and sales rising by double digits from a year ago, according to data released Wednesday by NAR
Don't-miss sessions at Inman Connect Las Vegas this summer include those built around value propositions, commission negotiations and the evolution of buyer agency
NAR's legal team, president and chief economist defended the group's cooperative compensation rule and used journalists as a scapegoat repeatedly during midyear panels earlier this month
May 6 remarks from Anthony Lamacchia spurred at least 1 NAR midyear attendee to leave the MLS Forum in protest, others to hurl steering accusations, and NAR's senior counsel to intervene
Judge Stephen R. Bough said payouts and practice changes in NAR's deal, added to those in the Keller Williams, Anywhere and RE/MAX settlements, represent 'substantial benefits' for sellers
NAR announced the annual competition on Monday with an appeal for applications from startups seeking an opportunity to pitch themselves to investors, real estate pros and tech enthusiasts
The National Association of Realtors membership gathered in the nation's capital to ctrl-alt-del its reputation. Did it work?
The ruling by Judge Stephen R. Bough on Thursday resolves antitrust claims in the Sitzer | Burnett, Moehrl and Nosalek commission cases. However, it won't quash other existing suits from buyers
The trade group had signaled plans to raise dues in 2025, but during a board of directors meeting Thursday at the Realtors Legislative Meetings voted 894-20 to leave them as-is for another year
The plaintiffs in a suit known as Batton 1 have filed for a temporary restraining order preventing the final approval of the Keller Williams, Anywhere and RE/MAX settlements
Low inventory drove prices higher nationwide despite some of the highest mortgage rates in decades, National Association of Realtors Chief Economist Lawrence Yun said on Wednesday
At the Realtors Legislative Meetings earlier this week, MLS executives were told they would be responsible for making sure real estate agents and brokers follow the new commission rules
Opinion
Although it may seem righteous to dismantle the institution that NAR has built, brokerage founder Sean Frank writes, the collapse of NAR could mean the end of the industry as we know it
With questions of agency, agreements and compensation on the line, we asked you to let us know: Did NAR's clarification provide the insight you need? Here's what you had to say
Realtor.com CEO Damian Eales took to the podium on Monday at the MLS Forum of the Realtors Legislative Meetings to refute rival CoStar's earlier claims about Homes.com's growing traffic
Realtors and buyers are both confused right now, writes mega-team leader Carl Medford. To help buyers sort out the mess, here are our top 10 answers for buyer questions
At the Realtors Legislative Meetings on Sunday, National Association of Realtors President Kevin Sears spontaneously fielded questions about the trade group's proposed antitrust settlement
Real estate professionals have survived upheaval and change in the past, and we'll do so again, broker-owner Teresa Boardman writes, even if we don't yet know quite how
The massive trade organization promised in March to make various policy changes as part of a landmark settlement. The rules will now roll out slightly later than expected
Real estate coach Jonathan Lack shares insights for what agents can do in the next 30, 60 and 90 days to perform at a higher level in the wake of commission lawsuit settlements
This week we got our first glimpse into some of the practical, procedural changes that we'll see in the aftermath of NAR's commission lawsuit settlement
The class action suit filed by plaintiff James Lutz alleges that HomeServices, other NAR members, fixed commissions, which misled buyers and resulted in them paying inflated home prices
In an email, the 1.5M member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements' terms
The court has granted plaintiffs' motion for preliminary approval of settlements proffered by Compass, The Real Brokerage, Realty One Group, At World Properties and Douglas Elliman
The proposed deal would resolve antitrust claims brought by homesellers but not homebuyers
An increasing uncertainty among real estate agents in March runs in opposition to brokers, who were more likely to tell Intel they still view the National Association of Realtors positively
Pending home sales declined 7% year over year in February, according to the NAR. However, a slight uptick in monthly inventory and contract signing trends provide hope for a market rebound
Generated revenue remained flat at $1.1B from the same period a year ago while the franchisor improved net losses by 27% year over year to a loss of $101M, according to a Thursday earnings call
The California Association of Realtors CEO John Sebree has resigned, effectively immediately. Sebree left the Association 'to pursue other opportunities'
Each month, the trade group publicly reports the size of its ranks and other data on its official website. But as recently as this month, state-by-state and national data is nowhere to be found
You shared your back-in-the-saddle, boots-on-the-ground perspectives now that NAR's settlement has received preliminary approval
Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were 'fair, reasonable and adequate' and set a final approval hearing for November
Whether it's commission lawsuit settlements or life in general that's causing your stress, broker-owner Pam Blair offers insight to help you come out stronger on the other side
Sitzer | Burnett plaintiffs on Friday asked the court to preliminarily approve the proposed deal. Brokerages and MLSs that were left out initially will have to take action by June 18 to be covered
Existing-home sales retreated 4.3% between February and March to a seasonally adjusted annual rate of 4.19M, according to data released Thursday by the National Association of Realtors
US homebuilder PulteGroup said it should have been provided with a plan to distribute claims so that it can estimate its recovery amount. But that document doesn't appear to exist
The US Supreme Court denied the real estate franchisor's request for consideration on Monday, but the plaintiffs won't be able to lay $4.7B in damages at HomeServices' feet — at least not yet
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
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
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
If you want to build the listing side of your business in the wake of the NAR settlement, Jimmy Burgess has 30 practical, actionable, doable strategies tailor-made for this moment
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
With the addition, roughly 800 agents will boost Jason Haber and Mauricio Umansky's American Real Estate Association membership by nearly 30% to about 3,800 members
This is a moment in history when NAREB and our leaders must stand up for justice and equality, writes Dr. Courtney Johnson Rose, president of the National Association of Real Estate Brokers
NAR told the US Patent and Trademark Office on Monday that an NYC-based investment firm that operates fintech marketplace Republic has stepped over the line with its logo. What do you think?
The Real Brokerage agreed to change business operations as part of its proposed settlement agreement in Umpa v. NAR
Getting distracted by remote possibilities in the face of uncertainty keeps you from focusing on the facts, writes Mike DelPrete
That includes benefits for first-time homebuyers, who might be better served by inexperienced agents. But some benefits require changes from mortgage lenders, consumer watchdog says
In another loss for the National Association of Realtors, the court ruled the US Department of Justice can reopen its investigation into rules around commission sharing
The Berkshire Hathaway affiliate says final judgment in the case shouldn't come before settlements are finalized, a process the franchisor does not expect to be 'uncontroversial'
Consumer misconceptions post-NAR settlement are wild. Jimmy Burgess talks to Keeping Current Matters CEO David Childers on how to communicate with today's buyers and sellers
The antitrust case from homebuyer and homeseller Hao Zhe Wang alleges MLS and broker services are illegally tied
CEO Sean Frank writes that an unintended consequence of new MLS changes is that real estate transactions become less transparent to the buyers and sellers they're meant to serve
Corcoran told Yahoo! Finance Wednesday she doesn't believe the effects of the settlement will be as earth-shattering as many make them out to be, but that 'the confusion it's causing is amazing'
The move comes 2 weeks after the National Association of Realtors signaled a $418M settlement of commission lawsuits. T3 Sixty said it will bring the ranking back when litigation is resolved
The plaintiffs and defendants in the antitrust commission case indicated they would be available for a 3- to 4-week trial beginning Jan. 21, 2025, according to court filings earlier this week
Fueled by positive job growth and an increase in available housing, the National Association of Realtors' Pending Home Sales Index rose 1.6% in February, according to data released Thursday
Brokers need to lead by example, new Inman contributor Valeria Grunbaum writes. Walk the talk, and don't buy into the fear and uncertainty of these post-settlement times
Robby Braun, partner at Cohen Milstein Sellers & Toll, addresses 'misconceptions' about the NAR deal's impact and says Realtors who try to ignore the changes 'will get left behind'
Real estate professionals respond in the aftermath of NAR's big commission lawsuit settlement and Compass' brand new one
The news comes 1 week after NAR's whopping $418M settlement was announced. Compass also agreed to make some minor changes to its business practices as part of the settlement
Existing-home sales decreased 3.3% annually in February, according to the National Association of Realtors. However, sales did improve 9.5% from January — signaling that recovery won't be linear
They asked the court for more time to analyze the impact on their proposed settlement of NAR's proposed rule change banning the MLS display of commissions offered to buyer brokers
More than 90 brokerages would not be covered under the $418M deal, though most have the option of buying in
Agents who see the changes coming and adapt to the new reality by cementing their relationships will be in a position to seize the day as market winds shift, mega-team leader Carl Medford writes
The verdict in the monumental Sitzer | Burnett commission case in Missouri — plus oversight by federal regulators — has splintered the industry as it scrambles to figure out how to move forward
Opinion
The Inman Intel Index goes beyond sentiment and trends by tapping into the real estate industry's most engaged community. Add your voice to the industry's most ambitious monthly survey today
We asked readers what's causing you the most stress when it comes to NAR's settlement. Here are the biggest hurdles the industry faces, in your words
Sitzer | Burnett plaintiffs asked the court to order the Berkshire Hathaway affiliate to pay most of the nearly $5.4B damages award after NAR, Keller Williams, Anywhere and RE/MAX settle
Since Friday, real estate agents have been arguing on the video sharing platform that the recent commission suit settlement is likely to hurt both homebuyers and the agents who represent them
If the proposed settlement is approved, multiple listing services will be forced to nix the buyer commission field by July. Now is the time to prepare, writes author and trainer Bernice Ross
If homebuyers are no longer willing to pay full commissions to agents, what happens to lender programs that incentivize consumers to work with partner real estate agents?
Opinion
Bi-coastal broker Cara Ameer outlines the problems, concerns and frustrations inherent in the terms of NAR's commission lawsuit settlement as agents learn to navigate a new reality
Proposed settlement represents 'nothing short of a sea change' for Realtors as NAR agrees to pay $418M and make sweeping changes
Everything you know about commissions is poised to change as NAR reaches a massive $418M settlement and promises unprecedented changes to the way members operate
Ahead of the National Association of Realtors' commission settlements Friday, some agents are reevaluating their memberships and considering the American Real Estate Association instead
NAR would agree not to create rules that allow listing agents to set compensation for buyer brokers as part of the settlement. HomeServices of America not included in the deal
The LGBTQ+ Real Estate Alliance launched an anti-LGBTQ bill tracker on Thursday as part of the Alliance's plan to make NAR and its lobbying arm, RPAC, stop funding anti-LGBTQ legislators
A fiscal watchdog also released a report warning that Chicago leaders may not have studied the issue thoroughly before putting it on the March 19 ballot
After 5 years and nearly 100K hours of work, the law firms are asking a federal court for $82M of the proposed settlements to be paid by Anywhere, Keller Williams and RE/MAX
Some Realtors and the attorney general in Washington, D.C., have come forward with criticism of Curbio. Executives say the complaints represent a tiny fraction of the thousands it has helped
The set of new housing initiatives also includes a 1-year tax credit of up to $10K to households that sell their starter home. NAR applauded the president's commitment to aiding the industry
Amended complaint alleges Warren Buffett's company abused the trust inspired by his name to encourage homesellers to use HomeServices and further alleged price-fixing conspiracy
Defendant MLS PIN and plaintiffs Jennifer Nosalek, Randy Hirschorn and Tracey Hirschorn asked a district court judge for permission to respond to a statement of interest the DOJ filed in the case
The Consumer Federation of America, a watchdog group, examined 43 contracts from 37 states, most from state or local Realtor associations, and found practices it believes worthy of scrutiny
California resident Andrea Freedlund is suing on behalf of homesellers who paid a buyer agent in the 4 years before Redfin announced it was leaving NAR, according to a suit filed in federal court
Consumer watchdog CFA hails federal agency's proposal to ban sellers from making compensation offers as a 'major watershed' in promoting more competition in real estate
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president
Existing-home sales decreased 1.7% annually in January, according to the National Association of Realtors. However, sales did improve 3.1% from December
There are no funds under NAR's policy available to pay for the cost of defending the Realtor associations nor their multiple listing services which have been sued, according to the trade group
The court dismissed a federal antitrust claim in the case known as Batton 1, but allowed state-law claims to proceed, partially due to the argument that commissions are baked into home prices
Angela Boykin is suing over a home sale from 2022. Her case is the 2nd such recent lawsuit out of Nevada and adds to the growing number of cases that have followed the Sitzer | Burnett verdict
NAR Interim CEO Nykia Wright sent a letter on Friday following a critical article in the Wall Street Journal, and in the wake of news the US Department of Justice wants big changes in real estate
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly
The trade group will not take on pet projects for the duration of NAR President Kevin Sears' tenure, which is slated to last until November 2025, he told NAR's Board of Directors Wednesday morning
The complaint — one of nearly two dozen targeting real estate's commission-sharing structure — alleges 'most' buyer agents will steer clients away from listings that offer lower commission
US home prices shot up in 86% of the 221 metropolitan areas tracked by the National Association of Realtors and rose 3.5% in the fourth quarter, according to data released Thursday by NAR
In remarks made in Boston that were later posted online, new NAR President Kevin Sears declared business will change for Realtors — whether they embrace it or have it 'forced down our throats'
NAR Chief Economist Lawrence Yun warned of 'further declines in membership over the next 24 months' said after NAR posted a 2.1% annual membership decline last month
The franchisor filed a petition to the Supreme Court requesting the review of an earlier appeals court ruling barring it from enforcing arbitration agreements signed by seller clients
In the wake of the $70M settlement by Keller Williams, NAR and HomeServices of America appear to be the ones left holding the bag. What happens next?
Under the proposed deal, Keller Williams must inform franchisees that offers of compensation are not required. It also agreed to revise training materials and end rules requiring agents to join NAR
In a video that abruptly vanished from NAR's website Wednesday before resurfacing, Wright said the group does not set commissions — a practice it isn't currently being accused of — and welcomed competition from AREA
Hale has been with HAR since the 1970s, racking up a long list of accomplishments and awards along the way. René Galvan will succeed him as president and CEO
NAR was dismissed without paying any money or making any rule changes, but The PLS says it can reopen the case if they don't come to a deal
At Inman Connect, Ed Zorn proposed mandating buyer representation agreements, killing the MLS compensation field, adding a concession field, and creating a fund to pay out settlements
CRMLS, Bright MLS and MRED told the US District Court of the Central District of California's Western Division they had reached a deal 'in principle' with ThePLS.com
Intel is highlighting the most important data releases and events slated for each month of 2024 in an effort to help industry observers follow the arc of residential real estate's rebound this year
The Inman Intel Index goes beyond sentiment and trends by tapping into the real estate industry's most engaged community. Add your voice to the industry's most ambitious monthly survey today
Federal Judge Thomas S. Zilly declined REX's motion for a retrial on Thursday. The company had been a years-long battle with Zillow over alleged antitrust activity regarding its IDX policies
Homesellers allege 36 Realtor association, brokerage, and multiple listing service defendants conspired to inflate buyer broker commissions in violation of state and federal antitrust laws
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
Team leader Carl Medford and his regional mastermind developed these 10 strategies to help you return to the fundamentals and take on the challenges and opportunities the market has in store
The National Association of Realtors may be on the verge of a bigger membership decline than it's ever seen before — including during the 2008 housing crisis. Intel explores why that is
Newly installed NAR President Kevin Sears will remain in position for nearly 2 years after replacing Tracy Kasper on Monday. In a video to members he focused on legal challenges and core business
A Chicago homeowner is the latest to allege NAR policies amounted to a conspiracy to keep commissions high for buyers, resulting in overpayment on the home purchase
After a reported blackmail threat, NAR President Tracy Kasper has resigned from her post. What's next for the embattled trade organization?
Class-action complaints filed by Joseph Masiello and Robert Friedman join chorus of litigation nationwide objecting to trade group rules requiring sellers to offer compensation to buyer brokers
Members already reeling from a series of accusations and leadership changes told Inman Tracy Kasper's resignation as president after less than 5 months doesn't bode well for NAR's reputation
The defendants point to 'legal errors at trial' they say justify setting aside the jury's historic, multi-billion-dollar verdict and giving the defendants another chance to make their case in court
Ahead of Inman Connect New York this month, the NextHome CEO said NAR serves an important function, but needs a major fix to deal with challenges related to leadership and commission suits
The National Association of Realtors' leader said she recently received a 'threat to disclose a past personal, non-financial matter unless she compromised her position at NAR'
The membership of the National Association of Realtors shrank by 1.7% last year as the trade group weathered a tough market and major lawsuits
Agent 'glut' means part-timers are now the majority, leading to 'widespread incompetence and pressure to maintain high commission rates,' according to the Consumer Federation of America
Small brokers may not get as much attention as the big guys, but they make up the majority of the real estate industry's firms and manage to win David-and-Goliath struggles every day
The case is the latest of numerous antitrust lawsuits that have emerged in the wake of the October verdict in Sitzer | Burnett. It names NAR, Compass, Redfin and others as defendants
November's numbers show pending sales didn't move compared to October, but lower rates did apparently lead to more lockbox openings — hinting that better days lie ahead
Sitzer | Burnett and its verdict cast a long shadow that will extend into 2024 and potentially shake up the real estate industry. But it wasn't the only lawsuit with commissions in the crosshairs
According to Realtor Trina Gonzales-Van, additional fees to buyers, especially in marginalized communities, has the potential to create more barriers to homeownership
The National Association of Realtors, Keller Williams and HomeServices of America have all asked a federal judge in Illinois to rule in their favor before the Moehrl case goes to trial
Opinion
Join the conversation about the future of the MLS at Inman Connect New York in January, where we’ll be discussing this manifesto, and much more
The former NAR vice president of advocacy also ran in 2019, and at that time, she sued the FEC for ordering her to stop running business ads in advance of that year's primary
NAR President Tracy Kasper appeared on CNBC's 'The Exchange' Thursday to discuss mortgage rates, affordability and the potential harm of changes to the current commission structure
The new suit is the second in Texas since the Sitzer | Burnett verdict, and is one of a growing number of antitrust cases challenging the way agents get paid
Christina Grace, a California resident who sold her home in Marin County, filed suit Friday against NAR, Compass and Keller Williams, among others, claiming she paid $50K in commissions
The National Association of Realtors' for-profit venture capital arm, Second Century Ventures, runs the program. Applications are due by Jan. 31
In separate lawsuits, homesellers allege the defendants — including Florida Realtors and West Penn MLS — conspired to enforce rules that inflated commissions on the sale of their homes
Suzanne Bouhia will shape NAR's communication strategy as the organization deals with lawsuits, scandal and a harrowing year in real estate
A 3-judge panel for the Washington DC circuit seemed inclined to let the agency resume its probe into the National Association of Realtors' cooperative compensation and pocket listing rules
Opinion
Agents industrywide are tempted to give NAR the cold shoulder, but coach Darryl Davis says that is not the solution to fix the major problems at hand
The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months
The trade group's attorney says NAR is 'still analyzing' the consequences of the Sitzer | Burnett verdict. Judge Andrea R. Wood says Moehrl is a 'different case' that will likely go to trial in Q4 2024
Existing sales fell 4.1% in October to an annual rate of 3.79M, the lowest since 2010, according to data from NAR. Nonetheless, multiple offers are still happening, economist Lawrence Yun said
The trade group installed its 2024 leadership during its annual NAR NXT conference. Kasper started her term 3 months early, after the resignation of former president Kenny Parcell
At a Friday board meeting, a member of NAR's board of directors predicted 'less authority' in 2024 as the embattled trade group's growing Executive Committee shoulders more responsibility
The National Association of Realtors and Keller Williams have hired former US solicitors general to help them beat back the multibillion-dollar verdict
At a forum for reps of 50 large brokerage firms, The Realty Alliance CEO Craig Cheatham asked why the nearly 1.6M-member trade group can't use its political influence for an 'existential threat'
The National Association of Realtors laid out its arguments to overturn the ruling Tuesday. The plaintiffs' attorney said if the trade group doesn't change, it risks an injunction and DOJ wrath
The National Association of Realtors' legal team on Monday blamed the ruling on the judge. The plaintiffs' attorney, meanwhile, said NAR hadn't 'learned anything' from its 'resounding defeat'
The National Association of Realtors' NAR NXT Conference is gearing up for a week in Anaheim, Calif. Here's a rundown of the schedule plus the sessions and events you can't afford to miss
In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases
A new commission lawsuit filed Monday seeking class-action status alleges sellers encountered 'illogical, harmful, irrational and anticompetitive effects' of NAR's cooperative compensation rule
Homeseller Monty March filed suit in the Southern District of New York Wednesday, alleging REBNY rules in Manhattan kept commissions high and violated state and federal antitrust laws
Some NAR staffers and members had called for Gland's resignation, alleging she allowed a toxic work environment to flourish unchecked while protecting wrongdoing at the top
In a 5-minute video posted online Wednesday, NAR President Tracy Kasper urged Realtors to be transparent about commission negotiations as NAR gears up for a long legal battle ahead
'Batton 2,' exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another suit called Gibson
Disrupting the National Association of Realtors' use of multiple listing services as a 'vehicle for higher commissions' is at the center of talks, lawyer Michael Ketchmark told Inman exclusively
At 32, the RealiFi Realty co-founder and CEO is the youngest president in the organization's history. Tian is a broker-owner in LA and was selected as a NAR '30 under 30' honoree in 2017
Goldberg had been set to leave at the end of 2024, but will now step down this month. His departure comes on the heels of a harassment scandal at the trade organization
Jurors in the 2-week commission trial shocked the real estate industry Tuesday, awarding an astonishing $5.36B in damages to homesellers after deliberating for 2 hours and 28 minutes
In a final push on Monday, attorneys for real estate franchisors and the National Association of Realtors argued that homesellers in the case failed to prove a conspiracy to inflate commissions
Keller Williams co-founder Gary Keller provided lengthy testimony Friday as the defense wrapped up a case to be decided by a Kansas City jury later this week
The Pending Home Sales Index, representing the number of homes that went under contract, rose 1.1% between September and August
New legal filings propose that MLS PIN class members from the Nosalek lawsuit be included in the 'substantive terms' of the Sitzer/Burnett and Moehrl settlements with Anywhere and RE/MAX
Plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings
Big names, heated exchanges and the emergence of homeseller plaintiffs on the stand dominated the first week of the Sitzer | Burnett commission trial in Kansas City, Missouri
The plaintiffs in a class action antitrust suit challenging the industry’s commission structure took to the stand to make the case that the practice of homesellers paying buyer agents is 'unfair'
As Sitzer | Burnett unfolds, the New York City trade association announced the upcoming rule change amid a nationwide reevaluation of buyer commission structures
On Day 2 of witness testimony Wednesday, attorney Michael Ketchmark narrowed in on training materials and presentation slides he alleged violated antitrust policies held by the defendants
The study by a trio of researchers analyzed hundreds of thousands of listings and found that those offering lower commissions to buyers' agents received less attention and took longer to sell
A report released Oct. 4 by the investment banking firm Keefe, Bruyette & Woods forecasts commissions to decline by at least 30% as a result of ongoing threats to the real estate industry
The long-awaited Sitzer|Burnett commission trial is underway in Kansas City, Missouri, and Inman is covering it all live as it unfolds. Check back early and often for news, views, schedules and more
The allegations, the high-profile witnesses slated to testify and all the evidence the jury will and won't see — it's all here as the long-awaited Sitzer | Burnett commission trial unfolds this week
Next week's long-anticipated Sitzer/Burnett commission trial is only the most immediate threat to real estate's most powerful trade organization as it navigates a series of existential challenges
In announcing details of its settlement in the bombshell commission suits, the franchisor said agents and brokerages 'have the freedom to set and/or negotiate commissions as they see fit'
Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors
An attorney for the Sitzer/Burnett homeseller plaintiffs calls the change a 'stunning admission of guilt' on the eve of a class-action trial set to start Oct. 16
Amidst an industry in turmoil, the real estate female empowerment and advocacy organization has launched a new campaign to 'spur action on behalf of women in real estate'
CoStar CEO Andy Florance dished with Intel about the commission lawsuits, Zillow and NAR as Homes.com nabbed 100M unique visitors for the first time ever in September
The Department of Justice's antitrust division on Thursday requested a 2-month deadline extension to review a proposed deal between homesellers and MLS PIN, a broker-owned multiple listing service
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships
A federal judge struck down charges that defendants conspired to 'fix,' 'maintain' and 'increase' prices for buyer brokerage services, but allowed claims they sought to 'control' prices to proceed
The Pending Home Sales Index dipped 7.1% to a measure of 71.8 between July and August, according to data from the National Association of Realtors
Coupled with findings of an internal investigation made public this month, the memo addressed to Donna Gland reveals NAR was aware of a 'hostile, toxic work environment' as early as March 2022
Sales of existing homes slid 0.7 percent between July and August to a seasonally adjusted annual rate of 4.04 million but held steady in the Northeast and rose in the Midwest
Open houses have been on the decline for decades, with a typical seller hosting just 1 open house before a sale. But an Intel review of data shows a downturn could breathe new life into the practice
Employees of the trade group demanded the departures of NAR CEO Bob Goldberg, President Tracy Kasper, Chief Legal Officer Katie Johnson and head of HR Donna Gland on Monday
A rally at NAR headquarters in Chicago drew few Realtors on Monday, but organizers at the NAR Accountability Project declared a win nonetheless after NAR lost its 'Great Place to Work' merit
The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including 'no longer forcing homesellers to pay buyer’s agents'
Judge Patti Saris preliminarily approved the deal after settlement fund restructuring. The case could provide a sneak peek at broader changes pending bombshell commission suit outcomes
This week: Anywhere has settled its portion of the bombshell commission lawsuit, so who's next?
A July letter from Polsinelli, the outside counsel tapped to investigate misconduct at NAR's behest, found evidence of 'creepy' and 'disrespectful' behavior long before the Brevard lawsuit
Opinion
Amid massive leadership challenges, trainer and DEI expert Dr. Lee Davenport takes a deeper look at the 'we' in NAR's 'That's who we R' slogan and what it means to be a Realtor right now
New cast member, new Cabo office and plenty of new luxury listings — the STOC cast tells Inman this season will be bigger, better and beefier
National Association of Realtors President Tracy Kasper released the 5-minute video on Thursday outlining the organization's plan to address sexual misconduct charges and rebuild broken trust
Pocket listings are positively overflowing nearly 4 years after the National Association of Realtors enacted its controversial Clear Cooperation policy to end them, a new Intel analysis shows
The company agreed to resolve the claims against it for $83.5M. Exact terms will be revealed when the plaintiffs ask the court to approve the deal, but an attorney for the plaintiffs says the franchisor is the first of the defendants to agree to 'change its practices'
Realtors are cancelling memberships, hounding local boards and organizing petition drives days after NAR resisted calls Thursday to censure Bob Goldberg for his handling of misconduct claims
Opinion
President and CEO of Anywhere Brands Sue Yannaccone writes that this is the time for leaders to find and use their voices so that the industry reflects the values it promotes
Joseph Wihbey, Productive.ai's COO and head of product, took a different approach than everyone else in his pitch: he simulated a phone call with a potential client to show what the tool can do
Opinion
The Realty Alliance CEO Craig Cheatham illuminates the frequently byzantine path many Realtors follow on their journey up the National Association of Realtors's formidable org chart
Real estate professionals are preparing for painful changes and the upending of the status quo if courts rule in favor of plaintiffs in 2 key suits, a survey on commissions conducted by Intel shows
Opinion
As the industry reels from The New York Times investigation into harassment at the National Association of Realtors, Bernice Ross pored over the ever-changing response to the scandal
In the wake of scandal within the National Association of Realtors, Inman asked 'Pulse' readers last month, 'What should happen next at NAR?' They responded with anger and grandiloquence
Agents and industry leaders said National Association of Realtors President Kenny Parcell's resignation is the first step in making the organization safer for female employees and members
Opinion
Debra Kamin's New York Times exposé details a culture of harassment, intimidation and denial at the National Association of Realtors
Opinion
In the days leading up to the Times exposé, NAR laid a virtual bread-crumb trail for digital damage control around the topic of sexual harassment
In interviews with 29 current and former NAR employees and leaders, including 19 who said they endured sexual harassment on the job, The New York Times described wrongdoing running not only through the trade organization but the subsidiaries and boards its executives currently sit on
The National Association of Realtors filed 4 requests in the US District Court in Western Missouri on Thursday involving commission rule changes, government investigations and discrimination
Most local associations maintain fewer than 2 years of reserves and draw on late fees as the most common source of non-dues revenue, according to NAR's inaugural Association Profile
Despite the ruling, Zillow said it looks forward to presenting its case to a jury and is 'confident that the evidence will show that REX’s business failed for reasons unrelated to Zillow'
California-based agent Janet Roberson told Inman a Compass team leader dismissed her after her controversial testimony at a school board meeting in April
A pair of explosive lawsuits could upend how brokers do business. As those suits come closer to trial, tell us how you feel about those cases and how prepared the industry is for the repercussions
Judge Thomas Zilly on Wednesday tossed antitrust claims against NAR and Zillow, saying REX had failed to prove the parties had agreed to work together to disadvantage non-MLS listings on Zillow
The antitrust enforcer argued NAR's pocket listing and commission rules need 'to be assessed on their merits' on whether they cost American homebuyers billions of dollars a year
Price declines were bigger in the spring than in the late winter, according to quarterly home sales data issued Thursday by NAR. But to real estate agents in most US markets, it didn't feel that way
Judge Patti Saris, of the US District Court in Massachusetts, said she 'loved' the commission rule changes the deal includes, but didn't think the litigation fund was fair for plaintiffs
An Intel analysis of the National Association of Realtors' nonprofit tax filings between 2004 and 2021 reveals just how much the trade group pays its top executives and leadership team
Highnote, Instacard and ListAssist are among the startups the National Association of Realtors has tapped for its annual 'Pitch Battle' later this month in Miami, according to an announcement
At Inman CEO Connect, Russ Cofano, James Dwiggins and Greg Robertson debated the changes that agents and brokers may see as a result of homeseller lawsuits and government interference
At Inman Connect Las Vegas, real estate broker and attorney Kendall Bonner urged the industry to be proactive instead of waiting to be legally 'bullied' into change
So you've decided to join us at Inman Connect Las Vegas. Bravo! Here's a day-by-day breakdown of the conference along with some tidbits to get the most out of your week in Sin City