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Berkshire Hathaway's Real Estate Firm Agrees to $250 Million Settlement in Commission Lawsuits

The settlement aims to resolve claims of inflated broker commissions, impacting nearly 70,000 agents across the U.S..

Overview

  • HomeServices of America, a Berkshire Hathaway company, settles for $250 million over claims of forcing homeowners to pay inflated commissions.
  • The settlement covers 51 brands and shields the company from similar future lawsuits.
  • Other major real estate firms have also settled, bringing the industry's total payouts to over $943 million.
  • The lawsuits accused brokerages of antitrust violations by mandating sellers to pay buyer's broker fees.
  • Settlement includes changes to business practices, promoting transparency in agent compensation.