The latest Clever report reveals a national average commission of 5.44%—not the long-claimed 6%. On this week’s episode of The Real Word, Byron Lazine and Nicole White break down the data and call out the misleading marketing language still being used to gaslight the industry.
HousingWire reports that attorneys in the Sitzer/Burnett real estate commission lawsuit are seeking one-third of the $679 million settlement from NAR and HomeServices of America.
Plaintiffs’ attorneys in the Gibson antitrust lawsuit have requested $36.9 million, one-third of the total settlement payout, to put toward legal fees for their efforts in securing settlements from nine brokerages.
On Friday, April 26, 2024, HomeServices of America agreed to a settlement in Sitzer/Burnett, et al, for $250 million.
Law firms for the Sitzer/Burnett plaintiffs are asking for one-third of the payouts from the RE/MAX, Anywhere, and Keller Williams settlements as payment for their five years and nearly 100K hours of work on the case.
This week on The Real Word, Notorious ROB joined Byron Lazine to discuss the HousingWire debate between Michael Ketchmark and Anthony Lamacchia.
Attorneys for the National Association of Realtors filed documents on January 23 supporting the consolidation of class-action commission lawsuits but arguing for the inclusion of all 19 national lawsuits and requesting a new venue, preferably Illinois or Texas.
An email from CoStar CEO Andy Florance on November 20 addresses false statements made by Realtor.com senior vice president Bob Evans at the NAR NXT opening party. He also reveals anti-Realtor bias in Realtor.com and the Wall Street Journal.
A video shown by plaintiffs’ attorney Michael Ketchmark in the Sitzer/Burnett trial is now hurting HomeServices of America’s motion for summary judgment in the Nosalek case.
An injunction in the Sitzer/Burnett commission lawsuit is not expected until next spring (2024), allowing time for post-trial motions and a final judgment. Meanwhile, the National Association of Realtors (NAR) and Keller Williams are bulking up their lawyer bench.
A new lawsuit was filed in Chicago federal court on November 2nd on behalf of home buyers alleging the defendants—Compass, eXp, Redfin, and Douglas Elliman, among others—have caused buyers “to pay inflated prices for the homes they purchase, and to receive reduced quality broker services.”
Minutes after the jury of the Sitzer/Burnett trial returned from two hours and 28 minutes of deliberation to issue its verdict, Byron Lazine started a live broadcast to share the breaking news. Here are the highlights.
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