According to the National Association of Realtors® (NAR), existing home sales in October hit their lowest point since 2010, dropping 4.1% from September and falling 14.6% year over year.
A video shown by plaintiffs’ attorney Michael Ketchmark in the Sitzer/Burnett trial is now hurting HomeServices of America’s motion for summary judgment in the Nosalek case.
An injunction in the Sitzer/Burnett commission lawsuit is not expected until next spring (2024), allowing time for post-trial motions and a final judgment. Meanwhile, the National Association of Realtors (NAR) and Keller Williams are bulking up their lawyer bench.
According to the National Association of REALTORS® (NAR) 2023 Profile of Home Buyers and Sellers, released this week, nearly twice as many single women (19%) as single men (10%) are buying homes in today’s market.
Calling NAR out as the “creator of the conspiracy,” a home builder and magazine publisher are suing Texas Realtor associations and 20+ brokerages and seeking class action certification on behalf of all home sellers in Texas between 1/1/2021 and 3/29/23.
Stay up to date on the biggest lawsuits impacting the real estate industry. Continuously updated with the latest developments.
This week in BAM brings news of the biggest commission lawsuit yet, an 11-point plan for real estate agents, NAR HR Chief Donna Gland’s departure, how to get 19 pieces of content from one listing, the best social media platform for agents, and much more.
NAR introduced a state flood disclosure tracker, developed with the Legal Research Center, which provides a comprehensive understanding of existing flood-related disclosure forms and requirements across all 50 states and the District of Columbia.
Tracy Kasper, president of the National Association of Realtors (NAR) posted a video on November 7th addressing the Sitzer/Burnett verdict, what it means for real estate agents, and what Realtors should tell clients who ask about the verdict or lawsuits.
A new lawsuit was filed in Chicago federal court on November 2nd on behalf of home buyers alleging the defendants—Compass, eXp, Redfin, and Douglas Elliman, among others—have caused buyers “to pay inflated prices for the homes they purchase, and to receive reduced quality broker services.”
This week in BAM (Oct 30–Nov 3) covered the Sitzer/Burnett verdict, Bob Goldberg stepping down, Zillow acquiring Follow Up Boss, Anywhere partnering with RealScout, a Krys Benyamein webinar, and a BAMx mastermind hosted by Byron Lazine.
After less than three hours of deliberation, the jury for the Sitzer/Burnett trial issued a verdict in favor of the plaintiffs, finding the defendants guilty of a conspiracy to keep and enforce the cooperative compensation rule. Plaintiffs won $1.785 billion in damages.
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