Celebrity Broker Sues National Association of Realtors Over House Listings
Mauricio Umansky, a reality television star and a co-founder of the global brokerage The Agency, sued the trade organization in federal court on Tuesday morning. Recognizable to fans of 'Buying Beverly Hills,' 'Dancing With the Stars' and 'The Real Housewives of Beverly Hills,' Mr. Umansky has been at loggerheads with N.A.R. since 2020, when he first went to court, claiming that its policies for real estate listings were anti-competitive and had damaged a private database of off-market listings that he had created in Los Angeles.
The suit was paused last year, when N.A.R. was dealing with its commission settlement. That pause on litigation expired at 12 a.m. Tuesday morning; Mr. Umansky had refiled his suit by 12:30 a.m.
Representatives from N.A.R. did not immediately respond to a request for comment on the suit.
The revival of Mr. Umansky's claim is the latest in a flurry of litigation in the real estate industry, as agents and brokerages tussle over how and where homes for sale can be listed in the digital marketplace. Last week, Compass, which sells more homes than any of its competitors in the United States, sued Zillow, the country's largest real estate site, which blocks any home that is not listed on its site within 24 hours from appearing there forever. Compass claims the 'Zillow ban' breaks antitrust laws. Zillow's policy echoes a long-held practice at N.A.R. that was recently relaxed.
N.A.R. has guided real estate rules in the United States for over a century, and in 2018, the Justice Department opened an investigation into its policies, including those involving listings. The federal inquiry signaled that N.A.R.'s so-called 'clear cooperation' — which requires agents to enter any new home for sale into a public listing database within 24 hours of advertising it — could be considered anticompetitive.
Want all of The Times? Subscribe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Thoma Bravo nearing deal to acquire software firm Dayforce, source says
(Reuters) -Private equity firm Thoma Bravo is nearing a deal to acquire HR software company Dayforce, a source familiar with the matter told Reuters on Monday. Shares of Dayforce, which has seen its stock lose more than 27% of its value so far this year, were up about 29% in late-afternoon trading. Dayforce had a market value of $8.44 billion as of Friday's closing price. Dayforce offers a cloud-based human capital management platform that includes payroll, workforce management, benefits, talent management, compliance and analytics. Thoma Bravo has been actively pursuing software acquisitions this year, betting on the build-out of artificial intelligence and the resilience of recurring revenue in a volatile economy. A deal could be announced as early as this week or possibly next week, the source said. Thoma Bravo and Dayforce did not immediately respond to requests for comment. Bloomberg News, which first reported the potential deal on Sunday, said that while the talks were advanced, they could still be delayed or falter. Dayforce beat Wall Street expectations for second-quarter revenue and raised its annual revenue forecast last week, as more enterprises increase use of AI and cloud-based platforms to run day-to-day operations. Sign in to access your portfolio
Yahoo
11 minutes ago
- Yahoo
Bayer Reaches Settlement Over Seattle-Area School PCB Cases
(Bloomberg) -- Bayer AG agreed to settle cases related to a Seattle-area school where more than 200 people were exposed to toxic chemicals made by the company's Monsanto unit. A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Festivals and Parades Are Canceled Amid US Immigration Anxiety Princeton Plans New Budget Cuts as Pressure From Trump Builds Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Bayer didn't disclose the financial terms of the accord, but said the cost was covered by a $618.3 million provision taken this month to deal with the company's liabilities for polychlorinated biphenyls, or PCBs, once manufactured by Monsanto. The company's shares rose 2.3% in Germany. Ex-students and teachers at the Sky Valley School outside Seattle sued Bayer and Monsanto over injuries tied to PCBs contained in aging fluorescent-light fixtures. The deal announced by Bayer — already enmeshed in multiyear litigation over its herbicide Roundup — is seen as a positive development in its handling of a wave of PCB lawsuits over Monsanto building materials made half a century ago. 'This development suggests progress toward containing PCB liabilities and reducing the risk of swelling,' analysts at Jefferies wrote in a note. Bayer, which acquired Monsanto in 2018 for $63 billion, already has agreed to pay almost $2 billion in settlements in PCB cases brought by states, cities and counties. Separate litigation over Monsanto's Roundup weedkiller has created a drag on the German conglomerate's shares. The company has reserved more than $17 billion for US Roundup suits. Monsanto stopped using PCBs in its products in 1977. Analysts have cast a wary eye on Bayer's burgeoning PCB problem. Bloomberg Intelligence analyst Holly Froum has projected it may cost Monsanto and two other companies embroiled in PCBs litigation — Eastman Chemical's Solutia and Pfizer's Pharmacia — as much as $3.9 billion to settle the remaining cases. The settlement announced Monday covers more than 200 plaintiffs with ties to the Sky Valley School, Bayer said. It doesn't wipe out the 10 verdicts in which juries in Washington State already have awarded a total of more than $1 billion, the company said. Those awards are under appeal. Bayer is asking the Washington Supreme Court to throw out the PCB verdicts based on its legal defenses. The court heard arguments in February, but has yet to hand down a ruling. An intermediate appellate court's backing of Bayer's position on the PCB cases prompted the review by the state's highest court. 'While the company remains confident in its legal strategy and defenses, and is fully prepared to defend cases at trial, it has maintained it will consider resolving cases on appropriate terms when it is strategically advantageous to help mitigate the risks and uncertainties of this litigation,' Bayer officials said in a release. Washington Verdict Earlier this year, state-court jurors in Washington ordered Bayer to pay $100 million to students and teachers exposed to PCBs, which were used used in electrical transformers, paints and sealants for their fire-resistant properties. The compounds were banned in the US in 1979 after researchers found they posed a cancer risk. The company still faces dozens of PCB suits by school districts, states and cities over health exposure and environmental contamination in buildings, landfills and waterways, according to Bayer's 2023 annual report. Bayer hopes to recover some of its PCBs litigation costs from companies such as General Electric and Westinghouse Electric, now Paramount Global, that were large users of Monsanto PCB products. Bayer hired a prominent plaintiffs' lawyer to try to enforce 52-year-old indemnity contracts the company says require its corporate customers to indemnify Monsanto for payouts tied to PCB pollution. The case before the Washington Supreme Court is Erickson v. Pharmacia LLC, No. 103135-1, Washington Supreme Court (Olympia) --With assistance from Sonja Wind. (Updates with indemnity litigation in 13th paragraph. A previous version of the story was corrected to fix the amount in the second paragraph.) Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Americans Are Getting Priced Out of Homeownership at Record Rates Living With 12 Strangers to Ease a Housing Crunch Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
11 minutes ago
- Yahoo
Half a million older Americans to start getting Social Security checks electronically — what you need to know
Social Security is switching to electronic-only payments, which could have a big impact on the 500,000 recipients who still receive their monthly benefits by mail. Beginning September 30 2025, the Social Security Administration (SSA) will no longer be issuing paper checks in the mail. The agency says the change is part of an effort to modernize government payment systems and enhance security and efficiency. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it The change affects fewer than 1% of SSA beneficiaries, but for those impacted — many of whom are older, live in rural areas or don't have a bank account — the transition could be significant. Why is the SSA phasing out paper checks? The switch to electronic payments isn't exactly a new concept. Back in 2013, the SSA required most new enrollees to receive their benefits electronically. However, this final push eliminates paper checks entirely. There are three main reasons for this shift: Faster payments: Electronic payments arrive on time, while mail carrier issues, natural disasters or delivery errors can delay paper checks Costs less: According to the U.S. Treasury, issuing a paper check costs approximately 50 cents, compared to less than 15 cents for an electronic transfer. With more than 500,000 benefit recipients still receiving paper checks once a month, that adds up to millions in potential savings per year Improved security: Paper checks are 16 times more likely to be stolen or lost in delivery. Digital payments reduce the risk of fraud and help prevent missed payments Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. What you need to know If you're still receiving paper checks, you will need to choose an electronic payment method before the September deadline. Otherwise, the SSA will automatically enroll you in a pre-paid debit card program. Here are your two options: 1. Direct deposit You can have your benefit sent straight to your checking or savings account. You'll need to provide your bank account and routing number to set up an electronic transfer. This is the fastest and most common method as it allows your benefits to be delivered quickly and you can spend the money as you typically would. 2. Direct Express debit card For people who don't have a bank account or prefer not to use direct deposit, this government-backed prepaid card offers a secure alternative. You can use it to withdraw cash, make purchases and track spending, just like a regular debit card. To sign up or make changes, log in to your my Social Security account or visit Choosing the right option depends on your situation. If you already have a bank account, direct deposit is likely the simplest choice. Providing your bank account and routing number will not allow anyone to pull money from your account without permission, only deposit funds. If you don't have a bank account, the Direct Express card provides a secure way to access your benefits. Here are a few steps you can take to make the transition smoother: Act early: Don't wait until the last minute to sign up. The SSA recommends making the switch well before the September 30 deadline Ask for help: SSA reps are available by phone, online or in-person at SSA offices to walk you through the process Monitor your accounts: After the switch, make sure to check your account or Direct Express balance to ensure funds arrive as expected Know the signs of a scam: The SSA will never ask for personal details via email or text. It will never offer to hold your funds to protect them, or ask you to convert assets into other forms of payment, such as gold or gift cards. While the shift away from paper checks might feel abrupt to some recipients, the SSA says it's committed to supporting individuals through the process. Don't be afraid to reach out for help. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
