The loss, down $17.5 million from the first quarter of last year but up from $83.8 million reported in the fourth quarter, includes the first traces of the brokerage's proposed $57.5 million settlement of claims...
Reffkin said in Wednesday's earnings call he anticipates it will remain cash flow positive for the remainder of the year despite its settlement, which it will begin paying in the second quarter.
"Since the verdict, we have provided our agents with 57 national training sessions and hundreds of local training sessions," he said. "With these efforts, I've seen our agents transition from initially being worried to now being confident.
For Massachusetts, the exact settlement for MLSPIN still hasn't been totally resolved, I keeping checking once a week with MLSPIN... I don't see buyers paying for the services provided, especially seasoned home buyers.
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