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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. The study attributes the “apparent uniformity of commission rates” to collusion.

Training 369
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Download these 9 real estate prospecting letter templates that actually work

Housing Wire

Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. My name is (your name), and I’m a licensed real estate professional with (your brokerage). Please think of me as your go-to resource for all things real estate.

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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 Ketchmark also brought up Keller’s book “The Millionaire Real Estate Agent,” which discusses the ‘co-opetition’ model that has evolved among rival brokerages. billion in damages.

Agents 407
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The ‘double-edged sword’ of dual licensing

Housing Wire

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019.

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Are you prepping for worst-case commission lawsuit outcomes?

Housing Wire

Real estate commissions are under the microscope. With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. Judge Stephen R. Bough of U.S.

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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 I was showing them [agents] what I did so they can learn from that,” Blefari said in his video deposition, according to Inman.

Sellers 384