Summary:
The Sitzer/Burnett lawsuit brought by named plaintiffs has called into question the fairness of paying buyer agents. The plaintiffs testified that they had no knowledge that they could negotiate commission in the property market. In essence, they felt that paying buyer agents was not equitable or just.
The case has raised some interesting questions surrounding the “normal” real estate process, particularly as it relates to buyer agents. It has been suggested that buyers should be aware of their right to negotiate the commission they pay. Furthermore, it has been discussed that the current model of the real estate market in which buyers pay their agent’s fees, may not be as equitable as it could be.
Key Elements:
• Sitzer/Burnett lawsuit brought by named plaintiffs
• Plaintiffs testified that they had no knowledge that they could negotiate commission
• Felt that paying buyer agents was not equitable or just
• Need for buyers to be aware of their right to negotiate commission
• Possibility that current real estate model may not be as equitable as it could be
You can read this full article at: https://www.housingwire.com/articles/plaintiffs-take-the-stand-in-the-sitzer-burnett-trial/(subscription required)
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