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Brooklee Han on two big developments in the commission lawsuits
Feb 7, 2024
Reporter Brooklee Han discusses the settlement agreement reached by Keller Williams in the Sitzer Burnett lawsuit and the potential impact on other pending cases. They also explore the ongoing commission lawsuits in the real estate industry and the implications of AI technology for fraudulent activities.
30:12
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Quick takeaways
- Keller Williams settles the Sitzer/Burnett commission lawsuit for $70 million, with changes such as not requiring agents to be members of the National Association of Realtors or follow their Code of Ethics.
- Home Service America seeks a review of the Eighth Circuit's decision regarding its motion to compel arbitration in the Sitzer Burnett lawsuit, potentially impacting the overall jury verdict in the case.
Deep dives
Keller Williams settles Commission lawsuit for $70 million
Keller Williams, one of the defendants in the Sitzer Burnett lawsuit, has reached a settlement agreement for $70 million with the plaintiffs. This settlement includes the Sitzer Burnett and moral lawsuits, as well as the no select suit. The terms of the settlement are similar to those of remax and anywhere, with changes such as not requiring agents to be members of the National Association of Realtors or follow their Code of Ethics. Keller Williams also encourages agents to make clients aware that commissions are negotiable.
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