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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. Michelle Figgs, the former senior industry analyst at Keller Williams , appeared next.

Training 396
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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Umpa suit is the only commission lawsuit in which Real has been named as a defendant.

Brokerage 370
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

Robert Reffkin is confident that Compass and its agents have what it takes to continue growing and succeeding in the changing real estate environment. “In We are a company of top agents.” annual increase in the number of transactions closed by Compass agents, which came in at 38,449 sides for a volume of $40.1 in 2003. “We

Agents 372
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Panic! at the brokerage: Industry leaders plan next steps after NAR settlement

Housing Wire

In the 24 hours after news broke of the National Association of Realtors’ (NAR) settlement agreement in the commission lawsuits , Doug Danzey, the leader of the eXp Realty -brokered teamerage The Cobalt Group , said the most pervasive emotion among his agents has been panic. “I

Brokerage 410
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RE/MAX to lean on high agent productivity during turbulent times

Housing Wire

“While there are a lot of factors currently affecting the real estate market, one thing remains constant: RE/MAX agents leverage their skills, experience and competitive advantages to serve as many customers as they can,” said Erik Carlson , who was appointed as the firm’s CEO in November. He noted that the average RE/MAX agent closed 11.8

Agents 361
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Real estate teams beat brokerage firms in profitability

Housing Wire

Podcast: Comparing real estate team and brokerage profitability. Study: It’s true, real estate teams outperform brokerage firms. RealTrends Brokerage Compensation Report. However, these super-sized teams aren’t the only ones turning a profit — a profit that dwarfs most real estate brokerage’s profit. agents and 4.5

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Real estate brokers focus on value amid commission lawsuit unease

Housing Wire

Regardless of the outcome, real estate brokers are doing all they can to prepare their brokerages and their agents for more transparency, education on the value real estate agents bring to the transaction, and more, according to the 2023 Q4 BrokerPulse survey , a forward-looking housing market sentiment survey by HousingWire.