Anthony Lamacchia stated threats of extreme penalties for fee violations leveled by plaintiffs lawyer Michael Ketchmark and Shopper Advocates in American Actual Property are “unnecessary.”
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Over the previous month, I’ve witnessed the overwhelming majority of the true property trade working extraordinarily exhausting to adjust to the NAR Settlement and guarantee they’re doing all the things accurately whereas serving their shopper’s finest pursuits.
Regardless of this, two weeks in the past, solely a day or two after the settlement took impact, 1000’s of Realtors throughout the nation, together with myself, needed to learn threats on Inman from attorneys Michael Ketchmark and Doug Miller.
Ketchmark warns that “he is watching,” and “we’re going to look for the opportunity to make examples out of anyone who’s playing fast and loose with the law.” In a separate interview, Miller goes on to say, “Forms committees composed of competitors who design fee agreements that result in higher buyer brokerage fees are likely to be the target of future litigation.”
Rhetoric like that’s pointless, and that’s why I filmed this video on my Crush It in Actual Property YouTube channel to substantively reply to not solely their offensive speak but in addition lots of their baseless claims and pointless threats.
These plaintiff legal professionals, who’re on this primarily for his or her payday and to disrupt our trade for no good motive, are flexing their muscular tissues in an effort to challenge worry into Realtors who proceed to work exhausting for his or her purchasers day in and day trip. With the DOJ’s assist, they’ve additionally made issues tougher for consumers and made homeownership even much less accessible for first-time consumers.
All of them proceed to push their false narrative that Realtors collude — whereas utterly disregarding the fiduciary duties that brokers must their purchasers.
It’s additionally superb to look at Stephen Brobeck of the Shopper Federation of America undo work he did within the ’90s to push the necessity for consumers to have illustration. His work in the present day makes it more durable for consumers to acquire illustration and purchase a house. I clarify all of this and extra in my newest video above.
Anthony Lamacchia broker-owner of Lamacchia Realty and Crush It in Actual Property. Lamacchia is a member of the NAR.
