In the recent Nosalek buyer broker commission lawsuit, the plaintiffs have requested that their case be stayed, as have the defendants RE/MAX and Anywhere. This is a legal move to suspend a case, and it is meant to ensure that the plaintiffs have time to create a settlement.
In the case, the plaintiffs have argued that the defendants owe them a commission from a 2008 real estate purchase, as their efforts were instrumental in securing the sale. The plaintiffs note that while buyer broker commissions were commonplace at the time, they are becoming less so. Thus, the plaintiffs believe that they deserve to receive financial compensation for their efforts nine years ago.
The main arguments of the parties involved in the case can be summarized as follows:
• Plaintiffs: The defendants owe the plaintiffs a commission due to their instrumental efforts in negotiating the 2008 real estate purchase.
• Defendants: buyer broker commissions are less common now than when the 2008 purchase was made and thus they should not have to pay anything for the services rendered.
• Plaintiffs: The plaintiff’s work should still be rewarded despite the changing legal landscape.
With the request for stay, both sides will have more time to reach a settlement out of court, rather than having a legal process that could take months to get through. No matter the outcome, the Nosalek buyer broker commission lawsuit will define the implications of the changing trends in real estate commission payments.
You can read this full article at: https://www.housingwire.com/articles/nosalek-plaintiffs-look-to-get-in-on-anywhere-and-re-max-settlements/(subscription required)
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