Warren Buffett’s HomeServices of America Settles Antitrust Lawsuits, Changing Real Estate Commission Landscape

Warren Buffett’s HomeServices of America, the largest residential real estate brokerage in the United States, has agreed to settle a series of antitrust lawsuits that could change the way real estate agents are paid commissions. The company has agreed to pay $250 million over four years. HomeServices of America, owned by Buffett’s Berkshire Hathaway Energy Company, is the parent company of four Dallas-Fort Worth firms.

News of the settlement was first reported by The New York Times, and Chris Kelly, Executive Vice President of HomeServices of America, stated that the settlement highlights the company’s commitment to protecting its agents, employees, and franchisees. The settlement comes after a Missouri jury ruled in favor of a group of home sellers in 2023, finding HomeServices of America, the National Association of Realtors (NAR), and Keller Williams liable for damages.

The settlement also involves changes to NAR’s rules on agent commissions and the use of home listing databases. This move could potentially save consumers billions of dollars annually in real estate fees. Other entities, including Anywhere Real Estate, RE/MAX, and Keller Williams, have also agreed to settlements in the antitrust lawsuits.

The settlement marks a significant development in the real estate industry and could have far-reaching implications for how real estate agents are compensated in the future. Stay tuned as the real estate landscape in Dallas-Fort Worth and beyond continues to evolve in 2024.