Mortgage industry experts in Kansas City are currently considering a lawsuit which has begun making its way through the court system. Plaintiff’s allege issues of unlawful commission adjustments stemming from real estate brokerage companies. As of now, two of the defendants in the case — Anywhere and RE/MAX — have recently settled. Yet, their settlements are not yet final. The other three companies named in the lawsuit, National Association of Realtors, Keller Williams, and Berkshire Hathaway, are still going to court to defend their positions.
Regardless of the outcomes of this law suit, it has and will continue to bring to light various issues within the real estate industry. From marketing techniques, to commission adjustment structures, to company relations, numerous aspects of the industry are being brought before the court of public opinion and will require vital changes to improve the industry as a whole. If this case is successful, brokers may not be able to continue the practices of commission adjustments. Without amendments, this case may cause significant impacts to careers, companies, and the industry in general for years to come.
Important Elements:
• Lawsuit brought to court system in Kansas City
• Anywhere and RE/MAX have settled but remain unconfirmed
• National Association of Realtors, Keller Williams, Berkshire Hathaway still in court
• Issues of unlawful commission adjustments
• Changes to industry may arise from case outcome
You can read this full article at: https://www.housingwire.com/articles/real-estate-brokers-focus-on-value-amid-commission-lawsuit-unease/(subscription required)
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