A federal judge has denied an attempt by William Raveis and Berkshire Hathaway Energy (BHE), the parent company of HomeServices of America, to enforce arbitration clauses in listing agreements, and effectively stymie ongoing class-action commission litigation against the two companies. In a filing today in the Gibson lawsuit—the largest Burnett copycat, filed by the same…
The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. DOJ tips hand in REX v. Zillow appeal The Department of Justice (DOJ) took a hard stance against a previous court ruling in a case involving Real Estate Exchange (REX), Zillow and the National Association…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. -Analysts for the S&P released a new breakdown of how removing the GSEs (Fannie Mae and Freddie Mac) from their long government conservatorship could impact the mortgage giants—and the market in general. According to…
In the largest and oldest commission-focused case filed by homebuyers (known as Batton), Judge LaShonda Hunt mostly sided with defendants in a dispute over new claims and new named plaintiffs, characterizing the proposed amendment as burdensome and unnecessary. At a hearing today in the Northern District of Illinois, Hunt eventually directed defendants—consisting of the National…
Defying post-pandemic trends, RISMedia’s Broker Confidence Index (BCI) dipped slightly at the start of the year, with real estate business owners still wrestling with spiking insurance costs, inventory shortages and consumer hesitancy—but most are planning to increase investments in their business. Falling slightly from 6.2 to 6.1, the relatively minor change skews from recent readings,…
For real estate professionals, the multiple listing service (MLS) is about as essential as any single tool or resource can be. All the data provides an obvious value to those in the industry, and the platform exists as a foundation for real estate transactions—but what about beyond that? Besides using the MLS to market properties,…
According to John Gillam, broker of record at EXIT Realty Home & Ranch in Colorado, not every real estate business leader understands the new dynamics of this era of real estate. “Most people don’t bring in the right people to do the right diligence,” he said. “We are so caught up in the mindset of,…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. MLS PIN judge pushes forward with DOJ-stalled case Judge Patti B. Saris, presiding over the Nosalek v. MLS PIN lawsuit in Boston, said on January 27 that she is ready to move forward…
A so-called “funding freeze” ordered on short notice by the new Trump administration was withdrawn almost as quickly as it was released, but the broad-based directive has caused significant confusion across the housing industry, and raised questions about how the new administration will seek to implement its agenda on housing. The original memo, dated Monday…
Above, Art Carter As the Clear Cooperation Policy became a nexus of controversy and debate last year, with a plethora of brokers, CEOs and everyday agents across the country weighing in, maybe more notable than any of the folks who spoke out in favor (or against) the policy were those who didn’t say anything at…
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