"Change is a matter of 'when,' not 'if,'" NextHome Co-Founder and CEO James Dwiggins told attendees during a pair of prescient panels at the T3 Tech Summit last month. (Note: Real Estate News and T3 Sixty share a founder, Stefan Swanepoel.) It all starts with this: All the defendants are going to settle. Even NAR, which has been vocal about its willingness to keep fighting.

"They're putting on a game face for all of us, as they should," Miller said. But if NAR and others don't settle, the door is open for copycat lawsuits, like the one filed by the Sitzer/Burnett lawyers immediately following the verdict in that case, or others from less prominent attorneys hoping to cash in. "And it's relatively inexpensive for them to do so because those big, highly paid corporate class action attorneys have done all the heavy lifting for them," Miller said. "They go find some sellers and they just copy that lawsuit and they're just printing money." Settlements can close that door.

I knew the real estate market was heading for a downturn, I thought it was going to be in the beginning of this year, it’s why I created the Thrifty Listing Plan. When I began marketing the plan in January 2023 … crickets.

It happened before with the real estate tsunami more than 15 years ago. In 2006 I had a bad feeling, I took my first “short sale” course in Orlando. Everyone thought I lost my mind. Buyers were purchasing homes at extremely high prices.

At first I was not able to short sale properties because at that time banks were ok with foreclosing. By the end of 2007, the market was tanking fast, by 2008 in was hemorrhaging. I then became a CDPE, (Certified Distressed Property Expert) I closed many short sales, with an amazing team for nearly four years. We had a process down and learned to close short sales fast.

The volume was so high, major lenders created portals to upload short sale packages. I became the “Short Sale Queen.”

Here we are again. I knew a couple summers ago when buyers were paying huge appraisal gaps, the market would suffer again. It was just a matter of time. History really does repeat its self. 

I am going to dust off my CDPE certification. It appears I will be advising the agents in our Brevard FL Real Estate Group with how to help sellers in distress … and perhaps I will need the Thrift Listing Plan  after all. 

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