University of Buffalo law professor Tanya Monestier claims in a 132-page objection that the settlement “is the worst of all possible worlds.”
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Despite initial concerns, real estate professionals say the temporary fix issued by Veterans Affairs has made these transactions better.
Questions about commissions linger a year after the Sitzer/Burnett verdict, but brokers are beginning to find patterns in seller behavior.
Through the first week of the trial, the plaintiffs’ central argument has been that despite the defendants having antitrust rules and regulations in place, documents from the firms suggest that they are knowingly violating their own rules.
Named plaintiffs in the Sitzer/Burnett lawsuit testified that they weren’t aware they could negotiate commissions, and felt that paying buyer agents was “unfair.”
The third day of the highly consequential Sitzer/Burnett buyer broker commission lawsuit included a deep dive into the training materials used by brokerages and the testimony of three of the named plaintiffs.
The NAR and brokerages believe the plaintiffs are looking to dodge cross examination to avoid testimony that could conflict with other class representatives.