Ep. 134 - Insider Interview Featuring HousingWire’s James Kleimann on the Sitzer/Burnett Case
Could a court ruling upend decades of standard real estate commission structures? In this episode, Quinton interviews James Kleimann, managing editor at HousingWire Magazine, about the recent verdict against broker commissions and what impacts it could have for real estate agents and home buyers/sellers. They discuss the details of the Sitzer/Burnett antitrust case, predictions for how this precedent could reshape the industry, impacts on affordability and access to agent representation, and key considerations around MLS policy changes that have been stable for over a century. Will the verdict withstand appeals or will it fizzle out like past commission lawsuits?
[00:00 - 02:03] - Introduction
[02:04 - 06:09] - Overview of Sitzer/Burnett case
[06:10 - 09:51] - Impacts and reactions
[09:52 - 15:41] - Court case details
[15:42 - 19:45] - Changes to industry
[19:46 - 23:22] - MLS transparency
[23:23 - 27:28] - Agent earnings
[27:29 - 31:41] - Impacts on top agents
[31:42 - 35:39] - Issues for buyers
[35:40 - 41:57] - Buyer awareness
[41:58 - 45:41] - Closing segment
Key Quote:
"I still believe that nine out of ten American consumers expect and demand real good service” - James Kleimann
Resources:
Housingwire.com/commission-lawsuits
Contact James:
www.linkedin.com/in/james-kleimann-b20ab212
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