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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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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

According to Ketchmark, the home sellers paid an average of $6,700 to the buyer’s agent in the transactions, adding up to $1.78 In the script the seller asks the agent if he or she can reduce their commission, stating that they would like to save money. I do believe training is essential.” billion in damages.

Training 459
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The Sitzer/Burnett trial kicks off in Kansas City

Housing Wire

In agent training videos, Blefari said he pre-writes a 6% commission into all his listing agreements and that he only negotiates commissions if they go up. “I NAR does, however, note that it sellers are able to negotiate the commission rate with their agent, and agents are able to negotiate with one another.

Sellers 435
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A coastal exodus? These Century 21 San Francisco agents don’t think so

Housing Wire

“We believe in the value of continuing to innovate, adapt to the changing industry and times by delivering extraordinary experiences and providing our family of agents with the latest in tools, training and the technology that they need to continue to defy mediocrity and give 121%,” said Orhan Tolu, Century 21 Real Estate Alliance CEO and owner.

Agents 493
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Freddie Mac’s loan servicing solution allows servicers to access essential tools via single sign-on

Housing Wire

The platform hosts 15 tools to support the servicing lifecycle for 14,000 external users (1,300 servicers), which has almost doubled since launching the platform in 2019. Last fall, Freddie Mac integrated its Single-Family Seller/Servicer Guide (Guide) with Servicing Gateway.

Tools 369
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Are you prepping for worst-case commission lawsuit outcomes?

Housing Wire

The lawsuit, which was originally filed in 2019 and won class-action status in April, alleges that some NAR rules, including one that requires listing brokers to offer buyer brokers a commission to list a property in a Realtor-affiliated MLS, violate the Sherman Antitrust Act by inflating seller costs.