A reprimand, but no mistrial despite objections from the defense
Defense 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
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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- 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
- Attorneys spar over evidence of collusion in commissions trialOn Day 4 of the Sitzer/Burnett trial, an expert witness for the plaintiffs said the current commissions system is a "clear case" of collusion and price fixing.October 19, 2023
- Can buyers overcome the psychological barrier of 8% rates?As mortgage rates continue to hit multi-decade highs, the industry waits to see how much it dries up demand.October 19, 2023
- Training on trial as plaintiffs challenge commission strategiesMaterials painted 6% commissions as the goal, plaintiffs’ attorneys argued, while industry witnesses defended it as just a number, and negotiable.October 18, 2023
- Industry leaders take the stage (via video) at Sitzer/BurnettPre-recorded depositions from Bob Goldberg, Gino Blefari and Gary Keller included tense exchanges about buyer-broker commissions.October 17, 2023
- 'Conspiracy' front and center as commissions trial kicks offOn day two of the Sitzer/Burnett trial, the plaintiffs presented opening arguments, while the defense said conspiracy claims are "conjecture."October 17, 2023
- Builder confidence declines even as home starts riseRising mortgage rates have hit the construction sector hard, pushing confidence to the lowest level since January despite an uptick in housing starts.Updated October 18, 2023
- Bucking seasonal trends, home inventory is risingInventory could keep increasing as potential homebuyers ‘hit the brakes’ while mortgage rates remain elevated. Price cuts are also higher than usual.October 17, 2023
- Foreclosure filings and debt are rising, but no need to panic yetOverall filings remain low but economic stress in the form of increasing credit card debt and depleted savings could push them higher.October 16, 2023
- Sitzer/Burnett: What to expect at trialStarting Oct. 16, NAR and other defendants will present their case to a jury that could decide how agent commissions are paid.October 14, 2023
- Yes, the market is slow — but for boutique teams, it’s an opportunitySide President Steve Capezza, who moved to the brokerage platform in January after almost a decade at Zillow, believes there’s power in finding joy in the work.October 13, 2023
- Mortgage rates now three times higher than in 2021Economic signals appear to be keeping rates elevated as they climb for a fifth straight week.October 12, 2023
- NAR doubles down on commission practices ahead of trialAn attorney for the organization said a loss would be “bad news for consumers” and force the industry “back into the 19th century.”October 11, 2023
- Freedom Mortgage faces new legal woes following recent fineThe Consumer Financial Protection Bureau is suing the company over faulty loan data. In August, Freedom was fined by the CFPB for illegal kickbacks.October 10, 2023
