Buying a home is commonly an individual’s most significant purchase. A buyer will often turn to a real estate agent for guidance during the home buying process, particularly because historically the seller pays the buyer’s...more
In October 2023, the National Association of Realtors (NAR) was found liable by a federal jury of making home sellers pay excessive commission fees. Following a settlement between the NAR and the federal government, many new...more
Major changes hit the U.S. housing market this past month that may lead to lower housing prices across the nation. These changes stem from a settlement agreement entered into by the National Association of Realtors (“NAR”),...more
The real estate industry is experiencing a situation due to new rules relating to buyers’ brokers in residential real estate transactions. Earlier this year, facing a $1.8 Billion verdict, the National Association of Realtors...more
In 2019, home sellers brought a series of class-action lawsuits against the National Association of Realtors (NAR) and several national real estate brokerages, alleging that the defendants conspired in anticompetitive...more
According to the most recent RMLS data available, in May 2024, the Portland metropolitan real estate market showed signs of vibrancy and growth. Home prices continued their upward trend with the average sale price reaching...more
In the latest chapter of a long-running investigation by the U.S. Department of Justice (DOJ) Antitrust Division into real estate industry practices, the D.C. Circuit revived DOJ’s 2021 investigation of the National...more
On April 5, 2024, the D.C. Circuit ruled that the Justice Department’s Antitrust Division could reopen an investigation of allegedly anticompetitive practices of the National Association of Realtors (“NAR”). See Nat’l Ass’n...more
Suppose we compare how orchestra violinists are paid to how residential real estate agents are paid. In contrast to violinists, who must spend a fixed amount of time in rehearsals and concerts, real estate agents receive the...more
In our latest roundup, bad loans outweigh loss reserves at top six U.S. banks, the FCC announces a proposed rule aimed at “bulk billing,” office-to-multifamily conversion projects grow in major metro cities, and more!...more
The homebuying market as we know it is about to see sweeping changes. On Friday, March 15, 2024, the National Association of Realtors (NAR) announced a settlement with groups of home sellers, agreeing to end antitrust...more
The National Association of Realtors (NAR), which represents more than 1 million Realtors, has agreed to eliminate its standard 6%sales commissions with home sellers. By reaching a $418 million settlement with home sellers in...more
Real estate brokerage franchisor Keller Williams has agreed to a settle claims related to the ongoing broker commission antitrust litigation. Burnett v. National Ass’n of Realtors, Case No. 4:19-CV-00332 (W.D. Mo.), which has...more
A recent federal jury verdict in Missouri has gotten the attention of real estate industry professionals around the country. The jury in Sitzer v. National Association of Realtors et. al (Case No. 4:19-cv-00332-SRB) ordered...more
This week, Mayor-elect Cherelle Parker announced the appointment of Chief of Staff Tiffany Thurman, Chief Deputy Mayor of Planning and Strategic Initiatives Aren Platt, and Chief Deputy Mayor of Intergovernmental Affairs,...more
A federal jury ruling just changed the game for real estate brokers and the commissions they are permitted to collect. In Sitzer v. the National Association of Realtors, the defendants (which included the National Association...more
Recently, a federal jury in Missouri returned a verdict ordering the National Association of Realtors (“NAR”), along with several other national real estate brokerages, to pay $1,785,310,872.00 in damages after finding NAR...more
A federal jury in Kansas City deciding a class-action lawsuit involving a class of home sellers recently found that the National Association of Realtors (NAR) and certain other residential real estate brokerages conspired to...more
On October 31, 2023, a Missouri jury awarded the plaintiff class in Sitzer/Burnett v. Nar, et al a $1.78 billion damages verdict against several real estate brokerage companies and the National Association of Realtors, based...more
On October 31, 2023, a federal jury handed down the verdict: the National Association of Realtors and several national brokerages (collectively, NAR) “conspired to require home sellers to pay the broker representing the buyer...more
On October 31, 2023, a federal jury in the Western District of Missouri found that the National Association of Realtors (NAR) and multiple other real estate brokerages violated antitrust laws by conspiring to inflate the...more
“Build affordable housing.” Easier said than done. Build it where? Which surplus city properties would be good candidates for this kind of project? What types of policies do a better job of fostering housing development?...more
The Inflation Reduction Act (the “IRA”) is a historic piece of legislation that includes approximately $369bn of funding for a number of strategies to reduce carbon emissions and combat climate change. Although it may be...more
Real estate finance isn’t complicated. Investors frequently use an income analysis to calculate the purchase price. First, investors decide what percentage return they want on their investment (ROI)....more
On May 4, after a two-day policy meeting, U.S. Federal Reserve Chairman Jerome Powell announced the first of what is likely to be several interest-rate increases in 2022. The first, a 50-basis-point increase, is the single...more