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Buffett's HomeServices Settles Sitzer/Burnett Case for $250M

Apr 26, 2024, 03:05 PM

HomeServices of America, a real estate brokerage owned by Warren Buffett's Berkshire Hathaway, has agreed to pay $250 million to settle a landmark antitrust lawsuit over inflated broker commissions. This settlement marks a significant development in the Sitzer/Burnett commission case, which has seen other major industry players like the National Association of Realtors and Compass also reaching settlements, with EXP still pending. The case, potentially valued at $4.7 billion in damages, has prompted widespread changes in how real estate agents are compensated across the industry.