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
Is it better to buy now or wait it out in today's housing market? RE/MAX President Amy Lessinger lays out the factors that can help you help buyer clients decide
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
Chief Operating Officer Serene Smith is leaving after 7 years in the role. Rob Fuchs has signed on as a new EVP. Changes follow departure of former CEO Nick Bailey, who exited in February
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
Real estate’s Q1 earnings are in. From CoStar’s revenue surge to Opendoor’s slump, we have all of the highs and lows
Matt van Winkle served as chief executive officer of RE/MAX Northwest from 2011 until 2022 and will now lead a Compass team
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
Total revenue declined by 8.3% YOY to $78.3M during Q1 2024, besting analysts' expectations for it to fall by 9.5%. News comes one quarter into Amy Lessinger's tenure as president
Find out how newlywed, outdoor enthusiast and former CPA Billy Davidson has launched his career — and what he plans to do next
The 6-time No. 1 RE/MAX agent worldwide may deal with some of the loftiest stars, but he stays grounded in his work ethic and rarely deviates from a uniform of jeans and tennis shoes
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
Inman caught up with RE/MAX LLC President Amy Lessinger to discuss her first few months on the job and her vision for the road ahead
Agent headcount — once a ubiquitous barometer of brokerage success — has faded, interviews and new Inman Intel Index results reveal. Instead, focus has shifted to 'the better and best agents'
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'
In her first keynote as RE/MAX president, Amy Lessinger addressed market headwinds, buyer-broker commissions, homebuyer agreements and plans to revive the franchisor's US operations
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
More than 90 brokerages would not be covered under the $418M deal, though most have the option of buying in
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
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
In the wake of legal settlements in 2 of the largest commission lawsuits, RE/MAX and Anywhere illuminated their paths forward to investors in Q4 earnings calls. Intel reads the tea leaves
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
Real estate’s Q4 earnings calls have finally wrapped. From RE/MAX’s CEO exit to Airbnb’s $10B year, we’ve rounded up the top stories all in one place. Here’s what you might have missed
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers
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
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
Broker and reality television star Ryan Serhant headlines an all-star roster of the industry's most compelling voices for the second-annual Inman Global Real Estate Influencers program
Atlas Data Privacy Corp. alleges the companies disclosed home addresses and unpublished home phone numbers for judges, police officers, prosecutors and their families
'Mortgage brokerage in a box' offering makes Entrepreneur's list of top franchise opportunities for a 5th consecutive year, despite challenging conditions for mortgage lenders
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
8 brokerages were honored on 'Entrepreneur' magazine's Franchise500 list. The 45-year-old list ranks the best franchises across several industries, including finance, technology and retail
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'
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
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
Although who's responsible for the absence of a true end-to-end remains up for debate, 4 real estate and proptech executives found common ground on the fact that AI is 'what's next' for the industry
RE/MAX CEO Nick Bailey says it's time to change the narrative on homeownership through education and solutions-oriented service
As real estate dives into the new year, 14 of the industry's top leaders looked back on mortgage rates, slow sales, antitrust suits, NAR drama and other headline-making stories from 2023
Scandals, lawsuits, technology and more dominated the headlines in what turned out to be one of real estate's most eventful years in recent memory
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
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
More than a third of all home sales featured a concession in the past 3 months, according to new data and agents who told Inman that they're beginning to see signs of a buyer's market unfold
A judge has granted preliminary approval of the franchisers' multimillion dollar settlements in Sitzer | Burnett, Moehrl and Nosalek. Final approval may happen next year
The National Association of Realtors and Keller Williams have hired former US solicitors general to help them beat back the multibillion-dollar verdict
Erik Carlson comes to RE/MAX Holdings in the wake of Adam Contos' departure. He also joins the company at a tumultuous time for the real estate industry
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
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
'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
Amidst difficult market conditions, the real estate franchisor's total revenue was down 8.7% YOY to $81.2M, coming shy of analysts' expectations. The company also suffered a net loss of $59.5M
Real estate companies have been trapped in a repeating cycle of bad financial quarters. Will this latest round of earnings break the loop, or is the industry doomed to relive it?
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
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
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial
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
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'
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
Ronald Leonhardt Jr. purchased the Harbor Beach home for $23M in 2021. It includes 120 feet of water frontage, a lap pool, a full summer kitchen and docking capabilities for a megayacht
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
Now that Anywhere and RE/MAX have tapped the first dominoes, here's what you think will happen with the bombshell commission lawsuits
Bustling Long Beach franchise RE/MAX Proper has acquired longtime indie brokerage All Nations Realty and Investments. The deal brought more than 100 new staffers and agents to the brand
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'
Richard E. Kellogg's text messages to a RE/MAX agent led to the evacuation of the agent's office. The Indiana suspect now faces intimidation charges in addition to fraud charges leveled in July
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
The layoffs are part of a reorganization plan that will streamline operations and bring cost savings in the long term, the real estate franchisor said in Securities and Exchange Commission filings
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
The biggest publicly traded brokerages and tech companies significantly slashed losses in the second quarter, restoring investor confidence, according to an Intel analysis of Q2 earnings data
The partnership will allow RE/MAX real estate agents full access to digital floor plans created by CubiCasa now that the company is an 'Approved Supplier' on the brokerage's online Marketplace
The Los Angeles agent told the crowd at Inman Connect Las Vegas on Thursday that he owes his success to mastering the listing interview. 'There's no second choice to this,' Jordan Cohen said
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
Every broker wants to recruit top agents. But what works when transactions are scarce? Two real estate professionals shared their thoughts Wednesday at Inman Connect Las Vegas
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
While the brokerage's overall head count rose modestly to 144,510 agents in the second quarter, its agent count declined in the US by 6.3%, to 56,987, according to a Q2 earnings call Wednesday
The ruling against HomeServices of America in federal court on Wednesday sets the stage for a likely Oct. 16 start for the first of 2 highly anticipated bombshell commission trials later this year