Warren Buffett's HomeServices of America settles $250m lawsuit accusing it and NAR of conspiring to inflate real estate agent commission rates.
Warren Buffett's HomeServices of America, the largest US residential real estate brokerage, will pay $250m to settle lawsuits accusing it and the National Association of Realtors (NAR) of conspiring to inflate commission rates for real estate agents. This brings the total damages from the Sitzer/Burnett lawsuit to $876.5m. The settlement aims to introduce competition to the real estate commission market, potentially reducing home prices for consumers.
April 26, 2024
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