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Each week on The Download, Inman’s Christy Murdoch takes a deep dive into the week’s most-read articles to give you what you need to face Monday head-on. This week: Catch up on the “mother of all lawsuits” and all the other so-called copycats that followed in Sitzer’s footsteps | Barnett.
At the end of Sitzer | There was a sense of relief at the Barnett trial, despite the verdict and the financial reward that came with it. “That sucked, but at least it’s over.”
Well, buckle up, Buttercup, because the hits are coming in the form of a new series of lawsuits that begin just minutes after “The Schitzer” ends. Burnett. First it was additional intermediaries and other states, then rumors about conversations between the Justice Department and Mr. Sitzer’s plaintiffs’ attorneys, and then – wait for it – the “mother of all commission cases.”
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“Litigation on the original case moved slowly through the courts for the first few years. But since late October, when a jury sided with the home seller and plaintiff in one of the highest-profile cases, “Consumers have filed a series of new lawsuits in various states,” according to Jim Dalrymple’s summary of ongoing and newly filed lawsuits.
“As a result of the defendants’ illegal and anticompetitive conduct, home buyers in the United States are forced to pay high fees for brokerage services that are falsely claimed to be free, inflate the prices of the homes they purchase, and receive lower-quality brokerage services. “It will be.” complaint “Plaintiffs and other class members each suffered at least several thousand dollars in excess claims as a result of Defendants’ conspiracy,” it later added.
Exclusive research: 95% believe they would pay a buyer agent under the right conditions
New consumer research conducted by Inman in collaboration with: dig into insights A survey of 3,000 potential homebuyers provides some potentially reassuring answers. As an indication of their willingness to engage in future buyer agency agreements, 95% of active homebuyers said they were willing to pay an agent directly or under certain conditions. . Don’t miss this event exclusive to Inman Intel.
The verdict is as follows: Four key realities in emerging markets
Suffering from the worst market in years, declining trust in the National Association of Realtors (NAR), and now the commission’s ruling, business as usual is in danger of disappearing. Team leader Carl Medford wrote that it will be some time before a final verdict is reached as an appeal approaches. However, there are four important realities to expect in the coming days.
Let’s distance ourselves from disasters.10 things to do after Sitzer
The events of the past few months have exposed many issues and weaknesses in the housing industry’s business model around service, leadership, action and accountability. With less than two months until 2024, agents need action to stay in business, not debate over what’s going wrong, writes Rachel Heidt.
After Sitzer | Barnett, what’s next for real estate? Pulse
Pulse is a regular column where we ask our readers for their opinions on a variety of topics in weekly surveys and report back on our findings. This week, we’re looking forward to hearing from you to share your thoughts on the state of the industry as we move past the Commission’s bombshell lawsuit. What changes are you already seeing and what changes are you looking to make in the future?