Beginning Saturday, new rules around commissions take effect, paving the way for the biggest shift in real estate in at least a generation. It's a brave new world, and it begins this weekend
HomeServices previously agreed to pay $250M to settle various commission suits. A final approval hearing is set for November
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
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
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
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
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 franchisors are not required to implement the business practice changes they agreed to until after the appeals process
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
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
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
Plaintiffs in the commission suit known as Batton 1 had requested a temporary restraining order Wednesday to prevent final approval of the Keller Williams, Anywhere and RE/MAX settlements
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
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 new touring agreements will last 7 days and are a response to terms contained in recent commission lawsuit settlements