Compass CEO expresses 'confidence' in commissions following verdict
In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.
November 6, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Jobs report could mean lower mortgage rates are comingThe pace of jobs and wages slowed in October, which may reduce inflation and potentially knock down mortgage rates in time for the spring selling season.November 3, 2023
- Mortgage rates level off after rising for 7 weeksAfter steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.November 2, 2023
- How did Redfin get roped into the commissions lawsuits?Despite cutting ties with NAR and touting its consumer advocacy, the brokerage is named in a new lawsuit similar to the Sitzer/Burnett and Moehrl cases.November 1, 2023
- Settling ahead of trial a prudent choice for Anywhere, RE/MAXWith more trials over commission practices — and potentially hefty damage awards — looming, the settlement agreements could be a selling point.October 31, 2023
- New commissions lawsuit filed on the heels of Sitzer/Burnett verdictAfter the jury unanimously found for the plaintiffs in the Missouri case, the lead attorney announced he was filing a nationwide suit naming NAR, 7 brokerages.October 31, 2023
- Jury sides with home sellers in commissions trialAfter less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.October 31, 2023
- Home price growth rose again in AugustThe latest Case-Shiller Index found that home prices continued to rise for a seventh straight month despite high mortgage rates.October 31, 2023
- The ‘day of accountability has arrived,’ say plaintiffsThe plaintiffs’ attorney presented a dramatic closing argument, while the defense took a more methodical approach, saying the conspiracy claims did not hold up.Updated October 31, 2023
- Retro housing market stuck in early ‘80s time warpMany of today’s challenges are throwbacks to what consumers and the industry faced four decades ago.October 29, 2023
- Gary Keller says there’s no such thing as a standard commissionTestimony from the KW co-founder as well as President Marc King closed out week 2 of Sitzer/Burnett, with both leaders denying a conspiracy.October 27, 2023
- Defense paints picture of bleak future; plaintiffs strike back hardThe defense in Sitzer/Burnett called on three experts to discuss the consequences of decoupling commissions, with one facing aggressive cross-examination.October 26, 2023
- Massachusetts plaintiffs want in on commission settlement dealsPlaintiffs in the Nosalek case want to reach a deal with RE/MAX and Anywhere following the brokerage companies’ settlements in Sitzer/Burnett and Moehrl.Updated October 31, 2023
- A reprimand, but no mistrial despite objections from the defenseDefense attorneys argued that an “ambush video” introduced Tuesday in the Sitzer/Burnett trial was grounds for a mistrial, but the judge disagreed.October 25, 2023
- Real introduces financial planning tools, retirement benefitsDuring its annual conference this week, the brokerage unveiled four new tools and programs designed to help agents improve their financial future.October 25, 2023
- A day of heated cross-examinations in Sitzer/BurnettDuring a grinding morning of testimony, CEO Bob Goldberg repeatedly said NAR doesn't weigh in on commissions, while emotions ran high in the afternoon.October 24, 2023
- CoStar to accelerate investment in Homes.com, posts revenue gainsThe company reported $625M in Q3 revenue and touted the growth of its residential portal, which it says is well-positioned should commission practices change.October 24, 2023
- Plaintiffs zero in on antitrust violations as they wrap their caseA former NAR committee member called traditional compensation practices “the ultimate form of restraint of trade,” claiming that NAR looked the other way.Updated October 23, 2023
- Falling rents could help prospective buyers save upRealtor.com's latest rental report found that rent prices across the U.S. dipped in September, continuing a five-month trend.October 23, 2023
- A world of difference in commissions outside US, jurors toldOn Day 5 of the Sitzer/Burnett trial, plaintiffs focused on steering, high fees in the U.S., and how buyer agent pay is handled differently in other countries.October 20, 2023
