HomeServices of America has agreed to a $250 million settlement to resolve the charges brought against the company in the Sitzer/Burnett trial.
The company, which is owned by Warren E. Buffett’s Berkshire Hathaway Energy, was the last defendant in the case to agree to a settlement. The National Association of Realtors and the brokerages Anywhere Real Estate, Keller Williams and RE/MAX reached separate settlements in the Missouri-based lawsuit.
HomeServices’ settlement, which requires court approval, does not force the company to admit wrongdoing. However, the New York Times reported that Michael Ketchmark, the lead attorney in the Sitzer/Burnett case, said he planned to continue to pursue legal claims against HomeServices’ parent company.
“The long-entrenched mandatory compensation rule is finally dead,” he said in a text message. “A jury of ordinary Missourians spoke, and the industry heard their voice. This settlement allows us to continue to pursue our nationwide case against Berkshire Hathaway Energy and a handful of large corporate brokers.”
;
If you ask the average person who is not entrepreneur minded, nor has worked in sales function, the majority will think salespeople are unethical.
Why? Because salespeople have the potential to earn thousands of dollars more per month than most people working hourly jobs.
This whole NAR case and settlement was about class envy.