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“Collusion,” agent training are the focus on day three of the Sitzer/Burnett trial

Housing Wire

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. Gorman was also questioned about the training materials used at Anywhere Brands.

Training 435
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Nosalek plaintiffs cite Allan Dalton video in opposition to summary judgment

Housing Wire

In their filing, the plaintiffs highlight HomeServices’ franchise agreements, training videos, as well as the now infamous Allan Dalton video, as evidence of HomeServices enforcing the National Association of Realtors’ Clear Cooperation policy.

Training 448
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Brokerage executives double down on their lead generation strategies

Housing Wire

He said his company is focused on buyer-side agents, whose activity is expected by some to be impacted by the National Association of Realtors’ (NAR) $418 million nationwide settlement of the commission lawsuits. The change would go into effect in mid-July 2024 if the settlement is approved by a judge.

Brokerage 448
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Q4 BrokerPulse: Commission lawsuits spur proactive changes for real estate brokers

Housing Wire

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Only 1% of respondents say they are restructuring their compensation model.

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Gary Keller, Bob Goldberg, Gino Blefari depositions on commissions shared with the jury

Housing Wire

Ketchmark said the plaintiffs want the defendants, which include the National Association of Realtors , HomeServices of America and Keller Williams , to “return the money” they believe was unlawfully taken via commissions as a result of an alleged conspiracy between the defendants. I do believe training is essential.”

Training 459
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The ‘double-edged sword’ of dual licensing

Housing Wire

An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019. Princeton Mortgage CEO Rich Weidel said he doesn’t see a large-scale opportunity for loan originators to obtain a real estate license, for one simple reason: For many loan originators, the job is to bring value to Realtors.

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Real estate teams beat brokerage firms in profitability

Housing Wire

Back in 2017, RealTrends partnered with the California Association of Realtors to study real estate teams. in 2020 over 2019. “Back then, principal brokers who formed a company recruited agents to help them take care of referrals.”. The average team in the rankings closed 252.9 sides in 2020 versus 106.9 Production vs. profitability.