Keller Williams Settles in Commission Suits
Sitzer/ Burnett Verdict
Real estate history was made in a Kansas City courtroom in October of 2023 with the Sitzer/ Burnett verdict. The winning argument was in favor of the home seller plaintiffs in the accusation of conspiracy on the part of National Association of Realtors and other large real estate franchises to keep commissions high. As a result, the federal jury awarded an incredible $1.8 billion settlement. We shared in more detail about this news in the National Market segment of this past Real Estate Market Update.
Florida Realtors
On the heels of this momentous decision has come what some refer to as “copycat lawsuits”. Our state of Florida started feeling the heat in early December of 2023 when Florida Realtors was hit with a lawsuit of their own. We wrote about this in detail in our Florida Realtors Lawsuit blog post.
Keller Williams
A November 2023 article about the Sitzer/Burnett case, published by Inman, stated: “It’s worth noting Anywhere and RE/MAX were both among the defendants in the case, but ended up filing settlement proposals before the trial began. They consequently did not participate in the defense during the trial. Defendants Keller Williams, HomeServices and HomeServices subsidiaries BHH Affiliates and HSF Affiliates did not file settlements.”
Fast forward to February 1, 2024, and Keller Williams has successfully settled in this case. The damage due from Keller Williams– $70 million. Now, all eyes are on the National Association of Realtors (NAR). What will they do next? It’s hard to tell, as even their messaging has been confusing. A video message from NAR CEO appeared online last week only to disappear about two hours later—see more here.
Fluid Realty
These lawsuits, the stories behind them, are important to us. The individuals and families who have been impacted, and what these lawsuits mean for the future of real estate are important to us. Ultimately, we are here to help you achieve your real estate goals. Reach out to us today.
The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.
