article thumbnail

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

Housing Wire

Ketchmark also presented Keller (and the jury present in the courtroom) with a script from Keller Williams University that agents can use to explain and negotiate commissions with clients. I do believe training is essential.” In the script the agent responds: “Let me explain what happens when you reduce a commission. “I’m

Agents 407
article thumbnail

Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

In the deposition, Michael Ketchmark, the lead attorney for the plaintiffs, asked Warner to comment on a training script from HomeServices CEO Gino Blefari in which he said that when he was an agent, he was supremely confident and would tell prospective clients that while commissions are negotiable “they only go up from 6%.”

Law 401
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

With mortgage rates on the rise, here are some products originators should tap into

Housing Wire

Available to clients aged 55 and older (in select states), this product allows eligible homeowners to tap into more of their home equity sooner rather than later with lower upfront costs. Both programs can also be used as a home financing solution that allows older clients to purchase a new home that will better fit their lifestyle.

Mortgage 351
article thumbnail

Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

In 2012, Dmitry Godin was seemingly on top of the world. The historically low interest rates that led to a boom in refinances in 2012 had ended, and Interfirst struggled to maintain volumes in following years as the market turned to purchase. Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5

Mortgage 338
article thumbnail

HUD goes after defunct mortgage modification firm

Housing Wire

The case came to HUD’s attention in 2012 when multiple Hispanic homeowners filed complaints with HUD alleging that they had been the victims of a loan modification scam, HUD said. ” The complaint alleges THL charged charged client fees of approximately $3,500, which were typically paid before they completed the work.

Mortgage 263
article thumbnail

How loan originators survived a cutthroat mortgage business in 2023

Housing Wire

Every single client scenario is different,” said Hunter Marckwardt, executive vice president of CrossCountry Mortgage. “[The Most years that number is closer to 30%, said Ullmann, who’s been an LO since 2012. So when I look at what’s deterring clients right now, is sticker shock,” Gastelum added.

Business 401
article thumbnail

Savvy real estate agents look beyond ChatGPT

Housing Wire

It re-emerged in the AI scene in October 2012. It is trained on text data and learns to identify patterns from that data to generate human-like text responses. If the reader and agent then engage in conversation, it’s doubtful the agent will appear proficient on the topic, creating doubt in the prospective client.