Breaking News: Co-founder of Successful Lawsuit Against NAR Launches Real Estate Startup
In a groundbreaking move, Josh Sitzer, a key player in the lawsuit that forced changes to real estate commissions, has teamed up with Bryce Galen and Neal Batra to create a new startup called Landian. This startup aims to revolutionize the way homebuyers navigate the real estate market by providing flat-fee real estate agents on demand.
The National Association of Realtors recently settled lawsuits by agreeing to pay $418 million in damages. In addition, they have abolished the "Participation Rule" that required sell-side agents to offer compensation to buyer brokers. These changes are expected to transform the real estate market significantly.
Landian's innovative model allows users to import listings from any real estate site, book home tours, and prepare offers with licensed local agents without owing a commission. Buyers have the option to pay à la carte for services, with prices ranging from $49 for a home tour to $1,799 for a comprehensive package.
With the rise of technology, the traditional model of buyers' agents receiving a 3% commission is becoming outdated. Landian offers a fresh approach that protects homebuyers from high out-of-pocket costs.
In a bold move, Galen and Batra predict that the NAR settlement will prompt agents to shift towards the Landian flat-fee model. This new wave of startups is expected to lead the change in the real estate industry, challenging established players like Redfin and Zillow.
Overall, the launch of Landian marks a significant shift in the real estate landscape, offering consumers greater control over their home buying process and potentially saving them money in the long run. This innovative approach to real estate transactions has the potential to disrupt the industry and benefit homebuyers nationwide.