Commission Lawsuit Plaintiff Sitzer, Now Wants To Parter With Agents!?
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What about the rest of the process? Offer research? All the variables in the entire transaction and after?
Agents who charge the most last much longer than discount agents.
Landian is a disaster. Home sellers want an agent to come and sell the home for the most money. That’s an agent who is getting an aligned sales commission, working with buyers agents who are also aligned with their buyer clients.
Thank you for always bringing the current news to the forefront!
In some neighborhoods, it can cost agents more than $25 for gas and parking.
Great point!
Most sellers are still paying commission. Why would a buyer come up with all these extra expenses? Pointless…..
Exactly!
here’s my business model
– showings are free
– offer submission is free
– contract review is free
– inspection scheduling is free, including being there for inspections and then reviewing the report
– negotiation is free
– final walkthrough is free
me fee is 3% of the purchase price of the property
“You can’t fix stupid!” – Ron White
Working for Landian would be like crossing a picket line.
Don’t assist them by pointing out their flaws. Let them run with it.
I can make more money working at In N Out with benefits, zero liabilty and have weekends off!! 🤣
Zillow is offering free home tours as a way to get in front of potential buyers. You nailed it. Landian will just turn into be another lead gen source of it even survives which is doubtful. You know, a bait and switch, that lacks transparency.
The consumers that want to use this model don’t understand what they don’t know.
Let’s line up for a class action against these clowns upon their change to a more traditional model like Redfin did… and while we’re at it, how about a class action suit against lawyers who work for a percentage of their clients winnings? Seems to me that causes more collusion by way of settlements for the insurance money! Any flat fee lawyers out there willing to take that case? Asking for some friends… 😂
– Does his platform allow people to negotiate those prices he has listed? Isn’t that price fixing?
– Zillow and Redfin have been around since early 2000s. Neither has been profitable. I’m sure he’ll be fine. 🙃
– Using Landian as a lead gen source is genius haha
My gas and time per showing costs more than they are offering 😂😂😂😂😂😂😂😂
Sitzer’s nephew is on the board at (VU) Veterans United Realty and Home Loans. Could this new business that Sitzer is standing up be to help VU to stop hemorrhaging the HUNDREDS OF MILLIONS of dollars that they lose because of the Buyer Agent referral partners?
VU was and continues having a problem with retaining the Buyer Referrals with their Lending. Mortgage Brokers have had a better product (lower interest rate) at a better price (lower cash to close). The receiving Agents show the Buyers a better Lending product with a Mortgage Broker and VU has lost so much money!
There is a conspiracy theory that VU played a huge role in (funding) this lawsuit in order to eliminate the Buyer Agents. That way they can move forward retaining more clients with their loans.
Charging up front might also be a good way for this to make money from “prospective buyers” that do not become Homeowners. I have worked with so many prospective Buyers that would have spent a few thousand dollars paying these fees.
Why pay $49/tour when you can see the house for free by calling the listing agent! Buyers don’t need a representation to see a for sale house. It’s the sellers’ agents duty to market/show the house even for unrepresented buyers!
“Disruptive” business models ONLY work in an environment of Fed-suppressed, falling interest rates and expanding economic bubbles.
Just ask Cathy Wood about how her ARK stock’s performance has been doing, or ask Zillow how their disruptive “Open Door” real estate model has been doing ever since the Fed has been allowing consumer interest rates to rise.
Anyone can put a stick in the ground and sell a house during Fed-supported boom times when mortgage rates are falling from 10% highs to 2% lows and credit is loose & easy.
But only the Traditional real estate model survives
when supply starts to exceed demand and interest rates start rising from 2% to 10% (or higher).
The whole case should be thrown out now…what a scheme!