Keller Williams Faces New Class-Action Lawsuit Over Profit-Sharing Program Changes Keller Williams, one of the largest national real estate brokerage, has been named in yet another class-action lawsuit because of recent changes made to its profit-sharing program. The lawsuit, that was filed on Thursday, joins a series of legal challenges the company has faced over alterations to its compensation policies to it's agents. What's This Lawsuit All about? The lawsuit was initiated by Louis Ronayne and Deborah Ronayne in the U.S. District Court for the Eastern District of Michigan, they are seeking class-action status against Keller Williams. Louis Ronayne had a long career as an agent at Keller Williams, he started as an agent in July 2000 and later becoming a team leader and regional... Read more
Tag: Gary Keller
The Sitzer | Burnett Realtor Commission Trial: A Watershed Moment for the Real Estate Industry
The Sitzer | Burnett Commission Trial: A Watershed Moment for the Real Estate Industry The Sitzer | Burnett commission trial currently underway in Kansas City, Missouri, is more than just another legal proceeding. It's a pivotal moment that could redefine the landscape of the real estate industry, particularly in how agents are compensated. With over two decades of experience in real estate, I offer the following in-depth analysis of the trial's implications. Industry Implications The trial's elevation to a U.S. District Court is not to be taken lightly. It underscores the gravity of the allegations at hand, which could potentially revolutionize the way real estate agents are paid. If the court rules in favor of the plaintiffs, we could see a seismic shift in commission... Read more
NAR Lawsuit Update 2023
NAR Lawsuit Update 2023: Key Testimonies and Implications for the Real Estate Industry The National Association of Realtors (NAR) is currently embroiled in a series of lawsuits that have the potential to reshape the real estate industry. One of the most notable cases is the Sitzer/Burnett buyer-broker commissions trial. This article aims to provide an in-depth update on the NAR lawsuit as of 2023, focusing on key aspects like commission structures, class-action status, antitrust allegations, and recent testimonies from industry leaders. Key Lawsuits and Their Status Burnett v. National Association of REALTORS et al. Case No: 4:19-cv-00332-SRB (W.D. Mo. 2019) Filed: April 20, 2019 Allegation: Home sellers unfairly pay the commissions of buyers' brokers. Status: Trial to begin on October 16, 2023. Sitzer/Burnett Buyer-Broker Commissions... Read more
Gary Keller and Marc King Testify in Sitzer/Burnett Commission Trial: Debunking the Myth of Standard Commissions
In the ongoing Sitzer/Burnett buyer-broker commissions trial, the defense recently concluded much of its case, with key testimonies from Keller Williams (KW) Co-founder Gary Keller and President Marc King. Both leaders vehemently denied any conspiracy regarding commission rates, challenging the notion of a “standard 6% commission.” This article delves into the details of their testimonies and what it could mean for the real estate industry.