Missouri antitrust case shakes real estate giants as industry experts debate future commission models and potential market repercussions.
The National Association of Realtors , and other leading real estate franchisors face an eye-watering $1.78 billion penalty in an antitrust case ruling handed down from a jury of eight in Kansas City, Missouri, on Tuesday.The Sitzer/Burnett class action lawsuit alleged that some of the nation's largest real estate companies, including NAR, Keller Williams, Anywhere , RE/MAX, Berkshire Hathaway's HomeServices of America and two of its subsidiaries conspired to inflate commissions.
Darryl Frost, spokesperson for Keller Williams, told Newsweek that the company is disappointed in the outcome, noting that the jury was not privy to crucial evidence that cooperative compensation is permitted under Missouri law. 'This is not the end,' Frost said, indicating that Keller Williams is weighing all options, including appeals.Berkshire Hathaway did not immediately respond to Newsweek's request for comment.
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