After less than three hours of deliberation, the jury for the Sitzer/Burnett trial issued a verdict in favor of the plaintiffs, finding the defendants guilty of a conspiracy to keep and enforce the cooperative compensation rule. Plaintiffs won $1.785 billion in damages.
On October 30, Day 11 of Sitzer/Burnett, attorneys for the plaintiffs and defense gave their closing arguments and rebuttal.
On Friday, October 27, Day 10 of Sitzer/Burnett, Gary Keller, co-founder of Keller Williams, took the stand and remained there for much of the day’s proceedings. Closing arguments are expected to begin today (Monday, October 30).
On Day 9 of the Sitzer/Burnett trial, defendants called additional witnesses to the stand, including David Stevens, former Federal Housing Commissioner, T3Group founder Stefan Swanepoel, and Dr. Lawrence Wu, an economist and expert witness.
Anywhere Real Estate and RE/MAX have agreed to a proposed settlement in the Nosalek commission antitrust lawsuit.
On Wednesday, attorneys for defendants HomeServices, Keller Williams, and the National Association of Realtors (NAR) asked for a mistrial, arguing that a video shown by the plaintiffs’ attorney amounted to an “ambush” that damaged their chance at a fair trial.
Attorneys for the defendants continued to lay out their case on Tuesday, October 24, 2023—Day 7 of the Sitzer/Burnett trial. NAR CEO Bob Goldberg and NAR Director of Engagement Rodney Gansho took the stand.
As Week Two of the Sitzer/Burnett trial begins, plaintiffs wrap up their testimony and attempt to show negligence on the part of NAR and Keller Williams leadership in regards to antitrust violations in their organizations.
Tom Toole breaks down three things every real estate agent needs to do in light of the commission lawsuits going to trial.
This week in BAM brings Week 1 of the Sitzer/Burnett trial, new homeownership initiatives from the White House, Barbara Corcoran, the world’s longest open house, a business planning webinar recap, and Meta Verified for business accounts.
Four plaintiffs in the Sitzer/Burnett class action lawsuit took the stand on Wednesday and Thursday (October 18-19) to challenge the real estate industry’s commission structure.
On Day 3 of the Sitzer/Burnett trial, lead attorney Michael Ketchmark questioned RE/MAX CEO Nick Bailey, former Coldwell Banker CEO M. Ryan Gorman, and Keller Williams University executive Meredith Maples.
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