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Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories of the week, according to Inman readers.
And don’t miss The Download, our weekly column that breaks down one of the top stories of the week and equips you with what you’ll need to meet next Monday head-on.
1. Mother of all commission suits filed in Illinois, this time by homebuyers
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“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 new suit called Gibson.
2. Homebuyers respond to biggest drop in mortgage rates this year
Purchase mortgage applications trended up last week for the first time in nearly a month as mortgage rates retreated from 2023 highs, according to the MBA’s weekly survey of lenders.
3. NAR President addresses Realtors for first time since Sitzer verdict
In a five-minute video posted online Wednesday, NAR President Tracy Kasper urged Realtors to be transparent about commission negotiations as NAR gears up for a long legal battle ahead.
4. Sitzer | Burnett plaintiffs’ attorneys in talks with Department of Justice
Law and justice.
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.
5. NAR CEO Bob Goldberg to retire early after ’emergency meetings’
NAR CEO Bob Goldberg.
Goldberg had been set to leave at the end of 2024, but will now step down this month. His departure comes on the heels of a harassment scandal at the trade organization.