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Report: Average Commission for Buyer’s Agent is 2.55%

Report: Average Commission for Buyer’s Agent is 2.55%

by Phil Hall | Aug 2, 2024 | News/Current Events, Real Estate News, WRE News Exclusive

The typical home seller pays an average of 2.55% commission to the real estate agent hired by their home’s buyer, according to an analysis of MLS data by Redfin (NASDAQ:RDFN). That’s down from an average of 2.62% in January, two months before the National Association...
Three Investors Plead Guilty in Real Estate Fraud Scheme

Three Investors Plead Guilty in Real Estate Fraud Scheme

by Phil Hall | Aug 2, 2024 | News/Current Events, Real Estate News, WRE News Exclusive

Three real estate investors pleaded guilty for their roles in a multi-year conspiracy to fraudulently obtain a $74 million loan and a $45 million loan and to fraudulently acquire multifamily properties. Fredrick Schulman, 72, of New York, and Chaim “Eli” Puretz, 29,...
Massachusetts Governor Warns Steward Health Care on Hospital Closings

Massachusetts Governor Warns Steward Health Care on Hospital Closings

by Phil Hall | Aug 2, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Massachusetts Gov. Maura Healey has called on the financially ailing Steward Health Care to follow the state’s Department of Public Health regulation that requires hospital owners to provide 120 days’ notice before closing a medical facility. The Associated...
Chevron Relocates HQ from California to Texas

Chevron Relocates HQ from California to Texas

by Phil Hall | Aug 2, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Chevron Corporation (NYSE:CVX) announced the relocation of its corporate headquarters from California to Texas. The company, which traces its California roots back to the 1870s is taking its leadership offices from San Ramon to Houston before the end of the year....
Renter Population Is Growing 3X Faster Than Homeowner Population

Renter Population Is Growing 3X Faster Than Homeowner Population

by Phil Hall | Aug 2, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The number of US renter households in the second quarter grew 1.9% year-over-year, according to a new data report from Redfin (NASDAQ:RDFN). The renter growth is more than three times faster than the number of homeowner households, which grew 0.6% in the second...
Minnesota Foreclosure Rescue Service in $240K Settlement Over Compliance Errors

Minnesota Foreclosure Rescue Service in $240K Settlement Over Compliance Errors

by Phil Hall | Aug 2, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Minnesota Attorney General Keith Ellison announced a $240,000 settlement with Dwell Equities LLC related to compliance errors in the company’s foreclosure rescue services. According to a statement from Ellison’s office, the Rochester, Minnesota-based Dwell approached...
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