"According to the firm, under the terms of the settlement all KWRI franchisees, agents, and teams are released from antitrust claims by all persons who purchased residential real estate that was listed on a MLS during the relevant time period. The start date of the relevant time period varies depending on the location, starting as early as January 25, 2006 for Puerto Rico and as recently as January 25, 2019 for homebuyers in Texas."
"We came to the decision to settle with careful consideration for the immediate and long-term well-being of our franchisees and agents and the business model they depend on. It was a decision to bring certainty and allow everyone at KW to focus on our mission without distractions, Czarnecki wrote. It allows us all to turn our attention back to what we do best: delivering unparalleled value in an ever-evolving real estate market."
Keller Williams agreed to a nationwide settlement in the Batton homebuyer commission lawsuit and will pay $20 million. The settlement did not disclose additional terms and did not require new business practice changes. The agreement releases all KWRI franchisees, agents, and teams from antitrust claims by purchasers of residential real estate listed on an MLS during the relevant time period. The relevant start dates vary by location, from January 25, 2006 in Puerto Rico to January 25, 2019 in Texas. Keller Williams is the first Batton defendant to settle and stated the move aims to eliminate uncertainty for franchisees and agents. Other Batton defendants include Anywhere Real Estate, REMAX, and the National Association of Realtors, and the suits follow a 2023 finding of industry liability in the Sitzer/Burnett case.
Read at www.housingwire.com
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