New: 🧠 Market Minds Issue #014

We appreciate each and every one of you for taking the time to read Market Minds. Buckle up and enjoy the free value - and you won’t want to miss the crazy listing with PRIME highway access.

The ”Sign and Save” Program

Redfin, the online real estate brokerage, has recently launched a new program called "Sign and Save" that offers a small refund to homebuyers who choose to sign a buyer agency agreement with a Redfin agent.

Under the "Sign and Save" program, homebuyers who sign a buyer agency agreement with a Redfin agent after their second home tour are eligible for a refund of 0.25 percent to 0.5 percent.

Keller Williams Settles Suit For $70M

Keller Williams has reached a settlement in two major lawsuits that could have significant implications for how consumers pay agents across the country. The company has agreed to pay $70 million and make changes to its business practices as part of the settlement.

The settlement comes after plaintiffs in the Sitzer | Burnett lawsuit filed a motion for preliminary approval of the deal in the U.S. District Court in Western Missouri. Keller Williams, which has 180,000 agents under its umbrella, has agreed to settle all claims against the company as part of a proposed nationwide class settlement.

The settlement with Keller Williams is similar to settlements reached with other real estate franchisors, Anywhere and RE/MAX, which were also involved in the lawsuits. Anywhere settled for $83.5 million, while RE/MAX settled for $55 million. These settlements have already received preliminary approval from the court.

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TL;DR (Too Long; Didn’t Read)

Redfin has introduced the "Sign and Save" program, providing homebuyers a small refund (0.25% to 0.5%) if they sign a buyer agency agreement with a Redfin agent after their second home tour. Meanwhile, Keller Williams has settled two major lawsuits for $70 million, prompting changes in its business practices. The settlement follows similar agreements with Anywhere and RE/MAX in related lawsuits, with Anywhere settling for $83.5 million and RE/MAX settling for $55 million, both having received preliminary court approval. Get a 6-bedroom house in Dallas, TX with PRIME highway access for only $350k.

Have a great weekend - we’ll see you next Saturday.

Cheers 🍻

-Market Minds Team