Dave Gallagher

Bellingham

Director and News Reporting at Real Estate News

Director, news reporting, Real Estate News

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Articles

A new Nosalek deal: No more offers of compensation on MLS PIN

1 week ago | realestatenews.com | Dave Gallagher

After making a key change to the terms of its settlement with Massachusetts home sellers, the one remaining defendant in a five-year-old commissions lawsuit may finally be able to wrap up a case that has received intensive scrutiny from the Department of Justice. The plaintiffs in the case known as Nosalek filed their fourth amended settlement agreement with MLS PIN on May 29. A preliminary approval hearing is scheduled for June 10.
The market slump? It’s ‘all about mortgage rates’

1 week ago | realestatenews.com | Dave Gallagher

Key points:Pending sales were down 6.3% in April compared to March and down 2.5% year-over-year, according to NAR. Mortgage rates rose for a third straight week, averaging 6.89%. Purchase applications notched up, however, as inventory continues to rise and buyers are gaining negotiating power in some markets. April showers dampened sales this year as Americans digested an onslaught of economic news and held off on signing contracts to buy homes.
Could the commissions settlements be thrown out?

1 week ago | realestatenews.com | Dave Gallagher

Key points:A brief submitted by law professor Tanya Monestier argues that the plaintiffs in Sitzer/Burnett did not have standing to pursue industry practice changes. If the appeals court agrees, the settlement could be tossed out, and "we are back to where we were a year and a half ago."Other objections have been filed with the court, which will accept briefs through July 21. It could then schedule a hearing and make a decision next year.
Why HomeServices is approaching acquisitions differently

1 week ago | realestatenews.com | Dave Gallagher

Key points:HomeServices has been known for leaving its acquired brands alone. But CEO Chris Kelly wants to make some changes — especially around tech — so brokers can focus on company culture. Kelly reiterated that HomeServices is not for sale, but said it’s open to acquiring other brokerages — if the fit is right. Kelly expects a smooth leadership transition following the departure of former CEO Gino Blefari and the impending retirement of Warren Buffett.
‘Ask T3’: What’s next for MLSs?

1 week ago | realestatenews.com | Dave Gallagher

Editor's note:The Ask T3 series explores some of the biggest questions in real estate with thoughtful insight from industry professionals. Check out our top takeaways and watch the latest episode from host Nick Bailey, chief real estate officer at T3 Sixty. (Real Estate News is an editorially independent division of T3 Sixty.)The views, thoughts and opinions expressed in the Ask T3 series belong solely to the episode creators and guests.
eXp, Weichert settlements granted preliminary approval

2 weeks ago | realestatenews.com | Dave Gallagher

After months of sparring between attorneys in the Hooper and Gibson commissions lawsuits, a Georgia judge has allowed the deals to move forward. A U.S. District Court judge in Georgia has granted preliminary approval to four brokerage settlements in the commissions lawsuits, including the contentious deals reached by eXp and Weichert.
Is Anywhere trying to buy Douglas Elliman?

2 weeks ago | realestatenews.com | Dave Gallagher

It appears that real estate companies are looking for M&A opportunities heading into the summer months. Bloomberg reported on May 23 that Anywhere Real Estate floated a merger offer to Douglas Elliman. Citing anonymous sources, Bloomberg said Anywhere offered $4 a share, though its source noted it was unlikely that Douglas Elliman would accept an offer at that price.
KW’s new CEO aspires to be ‘a force of stability’

2 weeks ago | realestatenews.com | Dave Gallagher

Key points:At the T3 Leadership Summit this week, KW President and CEO Christopher Czarnecki said he’s determined to bring stability to a role that has changed hands frequently over the past three years. Since stepping into his leadership role in March, Czarnecki has moved to reinvest in the educational and training aspects of the business. Czarnecki is also revitalizing partnerships with others in the industry.
Inventory is up - but high rates continue to drag on the market

2 weeks ago | realestatenews.com | Dave Gallagher

Key points:Home sales dropped last month as economic uncertainty and high mortgage rates continued weighing on potential buyers. Mortgage rates are ticking back up amid growing concerns about the rising U.S. debt and the country’s recent credit downgrade. Inventory continues to rise, meaning that those who are ready to buy have more options to pick from. Economic signals continue pointing to a slow spring for the housing market as elevated mortgage rates keep pent-up demand in limbo.
Why buyers and sellers aren’t ready to trade agents for tech

2 weeks ago | realestatenews.com | Dave Gallagher

Key points:Consumers embrace technology that solves an everyday problem. Because most people interact with the real industry infrequently, they aren’t often thinking about how to change it. That’s one reason the industry has remained resilient, even in the wake of major changes, says 1000WATT CEO Brian Boero. But real estate professionals should be paying more attention to consumers' needs, because they “have the power to shape … how they make choices,” Boero noted.