Sitzer/Burnett Attorneys Request $220 Million From NAR | The Real Word 335

Byron Lazine and Nicole White discuss the Sitzer/Burnett attorneys’ request for $226M in compensation for hours worked and out-of-pocket expenses, a Ryan Serhant interview, and an update on NAR’s Clear Cooperation policy.

Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam-mania-2024/

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription!

_______

𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/

Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka

Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate

Connect with Byron Lazine:

https://www.instagram.com/byronlazine

Connect with Nicole White:

https://www.instagram.com/nicolewhite.ct/

This episode's sources:

https://www.housingwire.com/articles/plaintiffs-attorneys-seek-220m-from-nar-homeservices-settlements/

https://www.nar.realtor/magazine/real-estate-news/mls-advisory-board-continues-evaluating-clear-cooperation-policy

https://www.housingwire.com/articles/ryan-serhant-interview-owning-manhattan/

Timestamps:

00:00–01:06 Intro

01:06 TOPIC #1: Plaintiffs attorneys seek $220 million

03:38 Hourly rates for attorneys, paralegals, and associates

06:34 “The percentage of the fund approach aligns Class Counsel’s interest…”

09:04 “Seems like attorneys & real estate agents/brokers have a similar deal…”

09:32 “If they were to lose this case… why would they do that?”

12:13 “It’s unfortunate how Ketchmark has addressed agents…” (double standard)

13:55 Byron calculating Nicole’s recent $4.5M deal close & how much money she made an hour

16:30 Negotiations are never done

19:50 One thing the courts aren’t ever going to say…

20:47 TOPIC #2: Serhant interview: “Life after Netflix & brokerages in a post-settlement world”

21:05 “Is there anything you're advising your agents to do…?” & Serhant’s answer

22:38 Why should people work with you versus jumping on Zillow?

23:18 Byron golf story

26:25 Clear Cooperation update

28:44 BAM Mania

———

BAM PARTNERS

𝐌𝐨𝐬𝐚𝐢𝐤 is the premier client experience platform, picking up where CRMs leave off, spanning search, transaction management, and client retention. It’s everything you need to showcase your value, build client loyalty and drive referrals. Limited subscriptions available → https://www.mosaik.io/

𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/

𝐒𝐮𝐦𝐦𝐢𝐭 𝐕𝐀 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Leverage your business with a REAL ESTATE-TRAINED Virtual Assistant → https://www.summitvasolutions.com/byronlazine-referral

𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://trial.propstreampro.com/bam/

𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners

𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://get.sierrainteractive.com/bam

𝐅𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐬: Maximize tax savings, reduce administrative burdens, and increase take-home pay with a financial management solution specifically for real estate agents: https://get.formationscorp.com/bam

———

#sitzerburnett #nationalassociationofrealtors #ryanserhant