Jury hits National Association of Realtors, real estate companies with $1.8 bln in damages

📆 2023/10/31 21:48:00
📰 Reuters

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A U.S. jury on Tuesday said the National Association of Realtors and several real estate companies, including units of Warren Buffett's Berkshire Hathaway (BRKa.N), must pay $1.78 billion in damages for conspiring to artificially inflate commissions that home sellers pay to buyers' brokers.

Townhomes line a street in Fairfax, on the morning the National Association of Realtors issues its Pending Home Sales for February report, in Virginia March 27, 2014. REUTERS/Larry Downing /File Photo

The verdict followed a two-week trial in the Kansas City, Missouri, federal court, where the case had drawn widespread attention for challenging widely used real estate industry practices. Plaintiffs in the class action included sellers of more than 260,000 homes in Missouri, Kansas and Illinois between 2015 and 2022.Keller Williams spokesperson Darryl Frost said the company would consider options for an appeal. "This is not the end," Frost said.

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