At the end of his historic 2-year term as president of the National Association of Realtors, Kevin Sears reflects on his legacy, the DOJ, 50-year mortgages and more
A judge had previously granted preliminary approval of the $3.95M settlement, which removed the option to display offers of compensation to buyer brokers on the MLS
The $3.95M settlement in the Nosalek case removes the option to display compensation to buyer brokers via the MLS and goes up for final approval in September
The 4th amended settlement, if approved, would prohibit offers of cooperative compensation on MLS PIN's platform and raises the total proposed settlement fund from $3M to $3.95M
Any responses or objections to the $1.5M deal must be filed with Delaware's Chancery Court on or before May 1
US District Judge Patti Saris asked the DOJ Antitrust Division for evidence that offers of compensation in the MLS are anticompetitive and harm consumers
Plaintiffs and defendant MLS Property Information Network agree that approximately 75% of sellers are opting out of offering compensation to buyer agents in the multiple listing service
A Department of Justice footnote filed on Monday in the Nosalek commission lawsuit suggests some industry leaders may have misinterpreted earlier DOJ messaging
A Supplemental Statement of Interest filed on Monday by the US Department of Justice argued that the settlement only offers 'cosmetic changes' to MLS PIN's agent compensation rules
With this acquisition, Century 21 North East aims to strengthen its position in the real estate market by broadening its reach and enhancing the value it provides to clients
The court will consider approving the latest deal in the case, which allows commission sharing in the multiple listing system
In partnership with Restb.ai, the 39,300-member MLS PIN will equip itself with new ways to work faster, better serve buyers and sellers, and push its own boundaries in data capture and accuracy
Some real estate leaders say the focus on Clear Cooperation stems from the recent commission lawsuits. But others see a deeper question about brokerage profits at the heart of the issue
Rayse, which the company has positioned as a way of 'pushing back against the settlements,' is backed by Realtor associations, MLSs, brokerages and leaders, including co-CEO James Dwiggins
Effective immediately, listing brokers and agents can submit for-sale listings to the MLS without offering any cooperating compensation to the buyer broker