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)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind.
Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal.
Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances.
While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.