As of August 17, 2024, the National Association of REALTORS® (NAR) has officially implemented major rule changes. These changes, crafted as part of a settlement package by NAR, which continues to face numerous class-action lawsuits from homesellers, are centered around removing cooperative compensation offers from MLS listings and mandating explicit representation agreements between real estate…
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Above, Trish McCall. Shown below, additional McCall team members. Photo credit: Ashley Gomez of Digital Twinners As a traveling sales rep some 25 years ago, Trish McCall was logging 1,000 miles a week when she listed her Northern California home for sale. “I had a fabulous agent,” McCall said. “She did a great job for…
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Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Homie Technologies sues NAR Homie Technologies—a Utah-based flat-fee firm—filed an antitrust lawsuit against the National Association of REALTORS® (NAR) in the U.S. District Court for the Central District of Utah on Aug. 22.…
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Weichert, Realtors has announced the company was recently named one of the nation’s best places to work, according to the Forbes list of “America’s Best Employers by State” for 2024. The real estate brokerage ranked No. 15 out of 90 New Jersey employers, a release noted. “We are honored that Weichert, Realtors is once again…
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RISMedia is still accepting nominations for its next class of Real Estate Newsmakers—those individuals from across the U.S. who are making headlines for their commitment and contributions to the real estate industry in 2023, as well as going the extra mile to positively impact their peers, colleagues, clients and the communities they serve. The 2024…
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New-home sales, which have been up and down this year after experiencing historic surges post-pandemic, saw another major jump in July, according to the U.S. Census Bureau, rising a blistering 10.6% from the previous month and 5.6% from a year ago as buyers flocked to new builds against the backdrop of economic and interest rate…
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The Department of Justice (DOJ) and eight state attorneys general on Aug. 23 charged real estate software company RealPage with helping conduct an illegal endeavor to drive up the price of rents in cities across the United States, using “algorithmic pricing software” to allow landlords to coordinate rather than compete to the detriment of renters.…
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Real estate investors are prime leads for agents, offering repeat business through frequent transactions, whether flipping properties or expanding rental portfolios. Their practical, business-focused approach often results in smoother, faster deals, free of the emotional challenges typical buyers may face. If you’re an agent looking to boost your efficiency and earnings, targeting real estate investors…
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The possibility of a September interest rate cut just became a much more imminent promise, according to a speech given by Federal Reserve Chair Jerome Powell in Jackson Hole, Wyoming, today. At the Central Bank’s annual Wyoming retreat, Powell reflected back on the fight against inflation since the pandemic, and gave a preview of the…
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On Monday, August 19, HomeServices of America and Douglas Elliman—the two brokerage defendants in the ongoing Lutz v. HomeServices of America, Inc. suit—filed a joint complaint to have the homebuyer commission lawsuit dismissed. Settlement agreements for commission lawsuits have been reached by the National Association of REALTORS® (NAR), with the association’s agreed-upon rule changes going…
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During these times of residential real estate practice changes and new legal logistics, Canopy REALTOR® Association/Canopy MLS has an ace in the hole with CEO Anne Marie DeCatsye. While advocating for the value of a REALTOR® and executing an effective consumer education campaign, she also has a law degree, which helps immeasurably as she guides…
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As the industry adjusts to the new normal with the mandated changes to NAR policy for buyer agency having rolled out Aug. 17, there have been no shortage of opinions on the new rules for buy-side contracts and cooperative compensation. Real estate icon and RE/MAX Co-Founder and Chairman of the Board, Dave Liniger, who has…
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In yet another of the seemingly endless legal actions filed within the real estate industry over the past few years, this time it was Homie Technologies on Aug. 22 filing an antitrust lawsuit in U.S. District Court for the Central District of Utah, claiming the National Association of REALTORS® (NAR) and other companies “conspired” to…
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Above, Whitney LaCosta and Jemila Winsey More than 400 of the industry’s most powerful residential real estate decision-makers will converge on Washington, D.C., September 4 – 6 for RISMedia’s 36th Annual CEO & Leadership Exchange, where we’ll candidly discuss the most critical trends and issues currently affecting real estate professionals and reshaping the future of…
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The National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI) found that in Q2 2024, a family earning the nation’s median income of $97,800 needed 38% of its income to cover the mortgage payment on a median-priced new home. The median price of a new home in Q2 was $412,300 vs. the…
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The real estate industry is overflowing with turnkey software that’s exactly the same across every installation. While this is often fine at the agent and, to an extent, broker levels, a “one size fits all” strategy isn’t robust enough for the needs of MLSs, particularly when it comes to property data. Flood maps, for example,…
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Three weeks ago, in my blog titled “Going for Gold,” I delved into the Olympics, capturing the essence of competition and camaraderie. Building on that theme, this week I want to explore the upcoming Paralympic Games. As we look forward to these games, they provide another dimension to our understanding of sportsmanship and resilience. As…
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Would you like excellent moving tips for the summer? Moving after selling your home in the summer can present unique challenges and opportunities. The warm weather, peak moving season and specific logistical considerations all play a role. My guide will teach you to manage these factors effectively to ensure a seamless transition. I will provide…
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Sales of existing housing inventory in the U.S. reversed course in July, posting an increase after four months of decline. This data comes courtesy of the National Association of REALTORS®’ (NAR) monthly update on existing-home sales. The report showed that total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—increased 1.3% from June…
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The 30-year fixed-rate mortgage (FRM) remains at the low level seen recently, from last week’s average of 6.49% to a current average of 6.46%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. This week’s numbers: The 30-year FRM averaged 6.46%, down from last week when it averaged 6.49%. A…
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