Recent News About Cincinnati Area Board of Realtors
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REALTOR® Magazine releases supplement to address misinformation on proposed settlement
A special digital supplement of REALTOR® Magazine has been released, featuring 16 pages aimed at addressing misinformation surrounding a proposed settlement. The publication includes resources designed to clarify litigation facts, debunk myths, and emphasize the significance of a written buyer agreement. Readers are encouraged to share this issue with others.
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REALTOR Magazine's April edition offers insights on buyer broker agreements
This special edition of REALTOR Magazine, released on April 1, 2024, provides a range of resources for real estate professionals. The publication includes details about the settlement and offers guidance on engaging with buyers and sellers. It also highlights the significance of Buyer Broker Agreements.
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Motion filed for preliminary approval of broker commission lawsuit settlement
A motion for preliminary approval of a settlement agreement has been filed in the Western District of Missouri, as announced by Katie Johnson. This development follows the proposed settlement disclosed on March 15, 2024, which aims to resolve litigation involving home sellers' claims related to broker commissions.
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Facts.realtor updates litigation and financing FAQs for improved navigation
The FAQs on litigation and financing available on facts.realtor have recently been updated. The latest versions of these documents include several changes aimed at improving user experience.
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Fannie Mae and Freddie Mac confirm buyer financing rules
Fannie Mae and Freddie Mac have confirmed that buyers whose agents are compensated by the seller will still have access to financing through these institutions. This assurance comes as long as it remains "customary" for sellers to pay commissions, which will not be included in the interest party contributions (IPC) or subject to IPC caps.
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NAR updates FAQ on written buyer agreements following settlement requirements
The National Association of Realtors (NAR) has updated its FAQ to provide more information on written buyer agreements, as part of a settlement requiring MLS participants working with buyers to enter into such agreements before touring homes. This update aims to clarify the practice changes that will soon be implemented.
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Settlement agreement receives preliminary approval; final decision pending
Today, Judge Bough granted preliminary approval for a settlement agreement related to the Sitzer-Burnett case and other similar actions. This decision temporarily prevents settlement class members from filing complaints or pursuing claims concerning broker commissions against the National Association of Realtors (NAR) or other parties included in the settlement.
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Cincinnati launches collaborative real estate survey with community input
Members of the REALTOR® Alliance of Greater Cincinnati are being encouraged to participate in a new survey aimed at assessing the City of Cincinnati's processes related to real estate. The initiative seeks feedback on various aspects, including permitting procedures, as part of efforts to streamline and improve these systems.
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NAR clarifies settlement impact mainly targets residential transactions
Recent discussions about the National Association of REALTORS (NAR) settlement agreement have raised questions regarding its impact on commercial real estate transactions. However, it is important to clarify that the agreement primarily concerns residential real estate.
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Court allows DOJ to reopen investigation into NAR policies
Katie Johnson, the Chief Legal Officer and Chief Member Experience Officer of the National Association of Realtors (NAR), addressed state and local association executives following a recent decision by the United States Court of Appeals for the District of Columbia Circuit. The court ruled that the Department of Justice's (DOJ) 2020 settlement with NAR does not prevent it from reopening its investigation into NAR’s policies, such as the cooperative compensation rule and clear cooperation policy.
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NAR President discusses future plans and settlement on Real Estate Insiders Unfiltered
NAR President recently joined Real Estate Insiders Unfiltered to talk about the future of NAR and a newly announced settlement agreement. The episode has been published, and listeners are encouraged to tune in.
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Patti McClister's journey highlighted by REALTOR Alliance of Greater Cincinnati
The REALTOR Alliance of Greater Cincinnati (RAGC) is highlighting the contributions of its Affiliate members, with a focus this month on Patti McClister. Her involvement with RAGC showcases her dedication and commitment to the real estate community.
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JPML rules against centralizing class action lawsuits involving NAR
The Judicial Panel on Multidistrict Litigation (JPML) has decided against centralizing class action lawsuits involving the National Association of Realtors (NAR). The panel cited a settlement agreement reached by NAR with plaintiffs on March 15 as a factor that could resolve many of the claims in the ongoing cases.
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Real estate market trends for Hamilton and nearby counties in March
The real estate market in Hamilton, Butler, Warren, and Clermont counties showed significant trends in March 2024. According to data from Cincy MLS analyzed by Domus Analytics®, there was a notable increase in home sales and prices compared to the previous month.
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Real Estate Community Build partners with Habitat for Humanity for affordable housing
The Real Estate Community Build is set to take place from June 5 to June 28 in the City of Lockland. This initiative aims to bring together real estate professionals and businesses to construct a Habitat for Humanity home, focusing on affordable housing solutions for families earning between 30% and 80% of the area's median income.
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Proposed settlement aims to resolve broker commission litigation
The National Association of REALTORS® (NAR) and plaintiffs have reached a proposed settlement to resolve litigation related to broker commissions. This agreement involves NAR, over one million members, state/territorial and local REALTOR® associations, association-owned Multiple Listing Services (MLSs), and brokerages with residential transaction volumes in 2022 of $2 billion or below. The settlement awaits court approval, expected to take several months. RAGC will update contracts and forms before the anticipated mid-July 2024 effective date.
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Greater Cincinnati sees strong home sales growth in February 2024
The REALTOR® Alliance of Greater Cincinnati has released its February 2024 home sales data, highlighting a dynamic real estate market in the region. The report shows an increase in home sales across Hamilton, Butler, Warren, and Clermont counties despite seasonal challenges.
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Realtor Alliance partners with Habitat for Humanity for June community build
The Realtor Alliance of Greater Cincinnati has announced a collaboration with Habitat for Humanity Greater Cincinnati (HFHGC) for the "Real Estate Community Build" event set to take place in June 2024. This initiative aims to address the affordable housing crisis by bringing together real estate professionals such as realtors, lenders, mortgage brokers, and title companies. The goal is to raise $50,000 for building materials and construct a home for a family in need.
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Cincinnati real estate shows balanced start to 2024
The REALTOR® Alliance of Greater Cincinnati has released the home sales data for January 2024, indicating a promising start to the year in the local real estate market. Despite various challenges, the housing market in Cincinnati remains resilient, offering opportunities for both buyers and sellers.
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National Association of Realtors addresses challenges amid legal battles
The National Association of Realtors (NAR) is navigating a challenging period, according to CEO Nykia Wright. The organization acknowledges the complexities facing the real estate industry and aims to progress both its association and the industry.