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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 384
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As fundraising environment freezes, power buyer UpEquity cuts staff

Housing Wire

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. UpEquity earns a commission from brokering or selling the mortgage buyers take out to buy their homes. The company paid one month of severance and 1.5

Buyers 347
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Compass misses free cash-flow goal but remains optimistic

Housing Wire

million in 2022. Compass’ other financial results also showed improvements over 2022. million was an improvement over the $158 million net loss in Q4 2022. million) was nearly half of what it was in 2022, at $601.5 million) was nearly half of what it was in 2022, at $601.5 billion, its net loss of $83.8

Agents 346
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Top LO Ben Cohen thinks first time buyers will return to the housing market this year

Housing Wire

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. I really think until we see inventory move in our favor, it’s still going to be a tough market for a buyer. After originating $1.66

Buyers 383
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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

In addition to the monetary award, Real has also agreed to implement business policy changes as part of the settlement, including “clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.”

Brokerage 360
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Here’s the key to being an empowered real estate professional in 2022

Housing Wire

2022 is slated to be? a buyer’s market. ? . Agents, you might have a new area of interest for prospective buyers.??. Your agents are trained on market activity and are seen as trusted sources. . So, keep reading the 2022 market predictions, sure. their predictions.?Home Home prices?are are expected to?rise?

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Consumer education at the center of wire fraud mitigation efforts

Housing Wire

Even as the housing market slowed in 2022 and 2023, the fraudulent activity of bad actors did not let up. home buyers and sellers it survey were targeted with suspicious or potentially fraudulent activities, while 10% were targeted for real estate fraud and 5% suffered losses during their real estate transaction due to fraudster.