OnDemand

Video will be visible after purchase

NAR Lawsuit: Realtors Sue Over Alleged Fake Leads Scheme Involving Realtor.com and OpCity

1 Credits

NAR Lawsuit: Realtors Sue Over Alleged Fake Leads Scheme Involving Realtor.com and OpCity

The National Association of Realtors (NAR) is facing a new class-action lawsuit filed by eight real estate agents in Los Angeles. The NAR lawsuit accuses NAR, Move Inc., and its subsidiaries, including OpCity, of defrauding agents by selling fake leads through Realtor.com.

The plaintiffs, who are agents from several states, claim that the defendants ran a “fake leads scheme” by bundling data from various sources, including consumers with no interest in buying a home. OpCity, which plays a key role in this lead generation process, is accused of distributing misleading information to agents. The NAR lawsuit further alleges that NAR conspired with its co-defendants, allowing them to use its name and reputation to legitimize the misleading leads.

As the NAR lawsuit unfolds, the plaintiffs are seeking damages and attorneys’ fees, arguing that this scheme has harmed real estate agents nationwide. The NAR lawsuit highlights significant concerns about the integrity of the lead generation practices employed by NAR and its affiliates, bringing national attention to the real estate industry. With the NAR lawsuit gaining momentum, the outcome could have far-reaching implications for real estate professionals across the country.

Source: Link

Powell Hints at Possible Interest Rate Cut as Inflation Risks Diminish, Dow Surges 300 Point

Federal Reserve Chairman Jerome Powell signaled that inflation may soon be under control, hinting at a possible interest rate cut next month. Speaking at the Jackson Hole summit, Powell noted, “The upside risks to inflation have diminished, and the downside risks to employment have increased.” He emphasized the need to adjust monetary policy to prevent further weakening of the U.S. job market, which has begun to cool.

Following his remarks, the Dow Jones surged over 300 points, with the S&P 500 up about 1%. The Fed had previously raised rates aggressively through 2022 and 2023, keeping them at a two-decade high. Powell cautioned that the timing and scale of any rate cuts will depend on upcoming economic data, with a possible quarter-point reduction in mid-September.

Source: Link

Los Angeles Settles for $38.2 Million Over Allegations of Non-Accessible Affordable Housing

And finally, Los Angeles will pay $38.2 million to settle a lawsuit that claimed the city falsely stated its federally funded affordable housing units were accessible for people with disabilities. The lawsuit, filed by the U.S. Department of Justice on behalf of a wheelchair user, Mei Ling, and the Fair Housing Council of San Fernando Valley, alleged that the city failed to make its multifamily housing accessible for at least six years.
The complaint cited issues like steep slopes, high counters, and entryways that didn’t allow wheelchair access. The city was also accused of falsely certifying compliance with federal accessibility laws and failing to maintain a publicly available list of accessible units. LA City Attorney Hydee Feldstein Soto denied violating the law but expressed relief at the settlement, especially considering the initial federal claim exceeded $1 billion. The settlement highlights the city’s failure to meet federal requirements, which mandate that 5% of units be accessible for people with mobility impairments and 2% for those with visual and auditory impairments.Source: Link

About 3 Things You Need to Know

Stream “3 Things You Need to Know” with Kayla Walsh, your essential daily update on the real estate world! Airing Monday through Friday, Kayla brings you the top three stories that matter most in real estate.

From economic shifts and housing market trends to celebrity property news and Federal Reserve updates, she delivers the crucial facts without opinion or editorializing.

With Kayla’s straightforward approach, you get the information you need to make well-informed decisions about your real estate ventures. Whether you’re an industry professional, a prospective buyer, or simply interested in market trends, “3 Things You Need to Know” keeps you in the loop with clarity and accuracy.

Start your day with Kayla Walsh for your daily real estate review.

3 Things You Need To Know – Copyright 2024 – OnTrack Agent

Buy Now

, ,

Reviews

There are no reviews yet.

Buy Credits

Create a free account to start streaming with Credits.

Congrats !
You have collected
coin icon
3 Credits
Get More Credits