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

Housing Wire

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue.

Law 404
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Judge denies HomeServices’ motion for ‘judgment as a matter of law’ in Sitzer suit

Housing Wire

During plaintiff lead attorney Michael Ketchmark’s cross examination of Warner, he presented her with some statistics showing that HomeServices affiliated agents in four Missouri markets paid buyer broker commissions of roughly 3% in at least 88% of the transactions completed between 2015 and 2022. It is human nature,” Frazier said.

Law 342
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Opinion: Prepare for a future without guaranteed shared compensation

Housing Wire

This is a dramatic and peculiar stance, given that same company a couple of years ago launched a $1 million annual advertising campaign touting a 1% listing fee, but only if the seller turned into a buyer for them. Meaning, they were counting on buyer agent compensation to pay their bills. How, then, will a buyer agent get paid?

Agents 373
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Chuck E. Cheese, MLS listing books and the correct pronunciation of ‘Realtor’ were on the table during HousingWire’s commission lawsuit debate

Housing Wire

Lamacchia also stressed that it is impossible to claim that the system is rigged because sellers can choose how much compensation they offer the buyers’ broker, or whether they even want to offer cooperative compensation. This is a free, open, capitalist society,” Lamacchia said. If it’s not collusion, then what is it?”

Realtors 408
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Sitzer plaintiffs expected to rest their case today

Housing Wire

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. Roger Alford, a law professor from Notre Dame, was also called to testify on Friday.

Legal 342
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Q&A: Roam’s Raunaq Singh looks to capitalize on the potential of assumable mortgages

Housing Wire

An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Raunaq Singh wanted to capitalize on that opportunity and founded Roam , a platform that helps buyers and sellers with the assumption process. Launched in September 2023, the company secured $1.25

Mortgage 394
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The Sitzer/Burnett trial kicks off in Kansas City

Housing Wire

The highly anticipated trial of the Sitzer/Burnett buyer broker compensation class action lawsuit kicked off in earnest on Tuesday morning, with opening arguments taking place in the Kansas City courtroom belonging to U.S. District Court Judge Stephen Bough.

Sellers 387