Denver, CO

Real estate commissions, unassailable for decades, could crumble after landmark settlement

Published

2 years ago

March 16, 2024

Real estate commissions, unassailable for decades, could crumble after landmark settlement

The National Association of Realtors announced Friday that it had reached a legal settlement that upends the traditional model of sellers paying for the buyer’s agent in a home purchase. The agreement has the potential to save home sellers billions of dollars every year, but could also complicate purchases for buyers.

The NAR, the largest trade group representing residential real estate agents, agreed to pay $418 million over four years to settle claims that the group and its members engaged in uncompetitive practices that forced sellers to compensate agents who brought buyers to the closing table.

“There are valid positions on both sides, and this is the way the game has been played,” said Mark Lee Levine, a professor at the Burns School of Real Estate and Construction Management at the University of Denver who has tracked the issue closely.

Starting in July, the game will be played differently. Buyers can no longer count on sellers paying the agents representing them, Levine said. On a $600,000 home, that could shift around $15,000 to $18,000 in typical commission costs back to the buyer.

Commissions on a home sale are, in theory, completely negotiable, but they typically run in the 5% to 6% range. How commissions get split can vary, but sellers almost always pay the buyer’s agent via what is known as a cooperative compensation model or co-op.

What a seller was willing to pay was communicated on the multiple-listing service or MLS controlled by local Realtor associations. If the compensation was too low or non-existent, buyer agents would pass on showing a home, plaintiffs in a case known as Sitzer-Burnett argued.

Listing the buyer agent compensation is now prohibited as part of the settlement. States must require buyers and their agents to enter into written agreements detailing compensation and what services are provided for it, something Colorado already requires.

Buyers still have the right to push for a lower commission, as was the case before. But if they know they are footing the bill, they may be much more motivated to do so.

“For far too long, home sellers have faced a system recognized by many as blatantly unfair. Individual sellers often feel powerless to negotiate a better deal for themselves given the risk that offering lower commissions will cause brokers to steer buyers to other properties,” Robert Braun, a partner in Cohen Milstein’s Antitrust practice, and one of the attorneys that led the case against NAR said in a statement.

Technology has lowered or eliminated commissions across wide parts of the economy, from stock brokerages to travel agencies. But they largely remained unassailable in real estate until a jury ruled against the industry last year. A series of settlements have followed that ruling.

Friday’s settlement resolves claims against NAR and its more than 1 million members, and against regional and local Realtor associations, including the Colorado Association of Realtors and the Denver Metro Association of Realtors. The settlement also shields brokerages run by a NAR member that did $2 billion or less in transactions in 2022 in the case, sparing them the cost of extensive litigation.

“We are pleased we have a solid path forward. We know how to move forward now. We are looking forward to going back and selling,” said Libby Levinson-Katz, head of DMAR’s Market Trends Committee.

Although the heavy weight of litigation in the Sitzer case has been lifted, what comes next is uncertain.

Will sellers and buyers, aided by cost-saving technology, push to lower some of the highest real estate transaction costs in the developed world? Will the real estate brokerage industry, already struggling from higher interest rates, suffer another steep drop in revenues, forcing tens of thousands of agents out of the field? Will buyers get a break via lower home prices to cover their added costs, or will sellers pocket the savings, leaving buyers in the lurch?

“NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers. It has always been our goal to preserve consumer choice and protect our members to the greatest extent possible. This settlement achieves both of those goals,” said Nykia Wright, NAR’s interim CEO in a release.

One by one large brokerage firms have settled in the case, the most recent being Keller Williams, which reached a $70 million agreement in February. HomeServices of America, whose brands include Berkshire Hathaway HomeServices and Kentwood Real Estate, remains a holdout.

Listing agents and buyer agents can still communicate directly about commissions and sellers can still pick up those costs. Sellers might do that if they think it will generate more interest in their listings or set them apart. But not every seller will agree, and a buyer may be set on owning that house.

That is where things get more complicated. The agreement a buyer has signed with the agent will then leave the bill for services rendered on the buyer’s table. Buyers, already stretched to come up with down payments and escrow costs, not to mention elevated home prices, may lack the funds, killing a deal. Or their agents might agree to take a smaller cut.

“We shouldn’t have been fighting over the commissions. We should have been fighting to serve our customers better,” said Bret Weinstein, founder of Guide Realty in Glendale.

Weinstein said becoming a real estate agent comes with a low bar of entry. Most who get in do a minimal number of transactions, if any, in a given year. And horror tales abound of unaware consumers in the hands of unskilled agents.

“It will shake up the industry,” he said of the changes coming. “One day there will be an exodus of people leaving.”

Buyer agents who remain will pursue different models, he predicted. One camp will offer high-level service from skilled negotiators who can justify their costs. That is one reason top-performing agents aren’t fearful of what comes next, he said.

At the other end will be agents offering a lower level of services in return for discounted commissions. Expect more technology firms to emerge that will try to automate the buying process or lower costs in other ways.

Levine offers another scenario, one where consumers continue to do the legwork in researching neighborhoods and finding a place through online resources. They negotiate terms or hire someone to do that. Then a real estate lawyer is brought in to handle the contract and closing. The costs would be lower and the approach might appeal to repeat buyers.

“As of July that co-op is going away. There is no guarantee that a buyer’s agent will get paid,” Weinstein said.

It will be a brave new word for consumers and the real estate industry alike.

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Denver, CO

Denver hosts Houston on 4-game home skid

Published

7 hours ago

December 14, 2025

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Houston Rockets (16-6, third in the Western Conference) vs. Denver Nuggets (18-6, second in the Western Conference)

Denver; Monday, 9:30 p.m. EST

BOTTOM LINE: Denver hosts Houston looking to end its four-game home slide.

The Nuggets are 13-5 in conference games. Denver averages 125.5 points while outscoring opponents by 9.6 points per game.

The Rockets are 9-5 in Western Conference play. Houston is fifth in the NBA scoring 120.6 points per game while shooting 48.6%.

The Nuggets’ 13.5 made 3-pointers per game this season are only 0.8 more made shots on average than the 12.7 per game the Rockets give up. The Rockets average 120.6 points per game, 4.7 more than the 115.9 the Nuggets give up.

The teams meet for the second time this season. In the last meeting on Nov. 22 the Nuggets won 112-109 led by 34 points from Nikola Jokic, while Reed Sheppard scored 27 points for the Rockets.

TOP PERFORMERS: Jokic is averaging 29.5 points, 12.3 rebounds and 10.9 assists for the Nuggets. Hunter Tyson is averaging 2.0 made 3-pointers over the last 10 games.

Alperen Sengun is averaging 23 points, 9.4 rebounds, seven assists and 1.5 steals for the Rockets. Amen Thompson is averaging 20.0 points over the last 10 games.

LAST 10 GAMES: Nuggets: 7-3, averaging 126.7 points, 41.4 rebounds, 30.3 assists, 5.8 steals and 4.1 blocks per game while shooting 53.1% from the field. Their opponents have averaged 119.8 points per game.

Rockets: 7-3, averaging 115.7 points, 47.2 rebounds, 24.8 assists, 9.3 steals and 5.1 blocks per game while shooting 48.0% from the field. Their opponents have averaged 107.0 points.

INJURIES: Nuggets: Christian Braun: out (ankle), Aaron Gordon: out (hamstring), Julian Strawther: day to day (back).

Rockets: Fred VanVleet: out for season (acl), Dorian Finney-Smith: out (ankle), Tari Eason: out (oblique).

——

The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.

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Denver, CO

Denver police seeking white 2010 Toyota Corolla allegedly involved in hit-and-run crash

Published

19 hours ago

December 13, 2025

Press Room

Denver police seeking white 2010 Toyota Corolla allegedly involved in hit-and-run crash

December 13, 2025 / 12:23 PM MST
/ CBS Colorado

Police have issued a Medina Alert to try to locate a white Toyota Corolla that was allegedly involved in a hit-and-run crash that seriously injured a pedestrian in Denver on Saturday.

The crash happened just before 9 a.m. near South Federal Boulevard and West Kentucky Avenue in west Denver.

Denver Police Department

The specific car being sought is a white 2010 Corolla with Colorado license plate EDM-U42, according to Denver police. Investigators say the driver of the Corolla struck a pedestrian in a crosswalk at the intersection, causing serious bodily injury. The driver then allegedly fled northbound on South Federal Boulevard.

Police say there will be slight to moderate damage to the front bumper.

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Denver, CO

Man found guilty of murder 9 years after girlfriend’s body was found in Denver-bound Amtrak train

Published

1 day ago

December 13, 2025

Press Room

Man found guilty of murder 9 years after girlfriend’s body was found in Denver-bound Amtrak train

DENVER — A Denver man was convicted Friday of murdering his girlfriend, nearly 10 years after her body was discovered inside a Denver-bound Amtrak train.

Angelo Valentino Mantych, 43, was convicted by a jury of his peers on one count of first-degree murder after deliberation for killing 28-year-old Marina Placensia while on-board an Amtrak overnight train that was headed to Denver from Wisconsin the morning of Sept. 1, 2016.

It took jurors about five hours of deliberation to reach the guilty verdict on Friday. Each was individually polled on their decision — and all of them confirmed their verdict.

Mantych, who was in court Friday for the reading of the verdict, hanged his head as it was read. He was scheduled to be sentenced on Jan. 9.

Meanwhile, Placensia’s family was overcome with emotion when they heard the guilty verdict. Outside of the courtroom, Placensia’s father told Denver7 the day felt like Christmas, New Years Eve, and his birthday rolled into one day.

Denver7 also spoke with a juror, who said the group was united in their decision and worked well together.

First-degree murder carries a mandatory sentence of life in prison without the possibility of parole, but the sentencing hearing will be an opportunity for those who loved Placensia to tell the judge how this loss has impacted their lives.

The two sides delivered their closing arguments on Friday morning.

Prosecutors said Placensia took the train that day with her four children, three of whom she shared with Mantych, to escape years of abuse and domestic violence. They argued that a “loss of control” served as motive for the killing. Prosecutors aimed to discredit the alternative explanations offered for Placensia’s death, pointing to what they said was clear evidence of a smothering.

Man found guilty of murder 9 years after girlfriend’s body was found in Denver-bound Amtrak train

The defense’s closing arguments centered around an apparent lack of commotion on the train on the night of Placensia’s death, saying it would be “almost impossible” for her to have been smothered for several minutes without their children noticing. Defense attorneys also called into question the integrity of an investigation that saw significant delays.

The case against Mantych is one Denver7 has been following since at least October 2023, when Mantych was charged with murder in connection with the crime.

An arrest affidavit obtained by Denver7 in the case showed the woman had several bruises on her body “consistent with an assault or struggle,” but investigators were not able to identify an obvious cause of death at the time. An autopsy later found blunt impacts to her head, trunk and extremities.

The investigation took several years to piece together, something the defense brought into question during closing arguments Friday.

“I think this case is such a great example of law enforcement just remaining committed to a case that they knew something happened, but we just had challenges with filing it, and so it’s a real testament to endurance and commitment by the entire team who’s worked on it since 2016,” said Assistant District Attorney Lara Mullin outside of the courtroom.

“It sends a very strong message to offenders who think that they can continue to perpetrate these types of crimes and violence on victims of domestic violence, that there will be justice sought and that we will not relent in our pursuit of that justice for victims of domestic violence,” said Amelia Sapp, the Chief Trial Deputy of Domestic Violence and Child Victims.

During the investigative process, one person told detectives that Mantych beat Placensia daily, and another said she had to go to a hospital multiple times for her injuries from the assaults, according to arresting documents. At least one of the reports obtained from the Racine Police Department and dated March 13, 2015, showed Mantych had punched Placensia’s ear several times, causing her to lose hearing in that ear. He was arrested and charged with assault after that incident.

On May 18, 2023, a doctor confirmed he believed Placensia’s cause of death was the result of asphyxia from suffocation and said her injuries were consistent with suffocation cases in both living and deceased patients, the affidavit stated. He said he believed her injuries were the result of an assault, including blunt force trauma and suffocation.

Mantych pleaded not guilty to the first-degree murder charge on June 21, 2024, according to court documents.

His trial began at the beginning of the month.

He did not testify in the trial and his defense team declined to comment on the verdict.

Editor’s note: If you or someone you know is experiencing domestic violence, help is available through Violence Free Colorado or the National Domestic Violence Hotline at 800-799-7233.

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