Amidst challenging market conditions, the real estate franchisor’s total revenue was down 8.7 percent year over year to $81.2 million, coming just shy of analysts’ expectations. The company also suffered a net loss of $59.5 million. Continue reading
Michael Ketchmark filed the new lawsuit just moments after a jury sided with his clients in the Sitzer | Burnett case. The new suit claims another batch of companies committed a conspiracy Continue reading
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial. Continue reading
On Day 2 of witness testimony Wednesday, attorney Michael Ketchmark narrowed in on training materials and presentation slides he alleged violated antitrust policies held by the defendants. Continue reading
A report released Oct. 4 by the investment banking firm Keefe, Bruyette & Woods forecasts commissions to decline by at least 30 percent as a result of ongoing threats to the real estate industry. Continue reading
In announcing the details of its settlement in the bombshell commission suits, the franchisor said that agents and brokerages would “have the freedom to set and/or negotiate commissions as they see fit.” Continue reading
An attorney for the Sitzer/Burnett homeseller plaintiffs calls the change a “stunning admission of guilt” on the eve of a class-action trial set to start Oct. 16. Continue reading
The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including “no longer forcing homesellers to pay buyer’s agents.” Continue reading
Real estate professionals are preparing for painful changes and the upending of the status quo if courts rule in favor of plaintiffs in two key lawsuits, a survey on commissions conducted by Intel shows. Continue reading
The National Association of Realtors filed four requests in the US District Court in Western Missouri on Thursday involving commission rule changes, government investigations and discrimination. Continue reading