Unpacking The $70 Million Suitcase: Is There Change In The Wind?
Keeled Over Keller Williams
- Keller Williams has agreed to cough up a whopping $70 million for a lawsuit they’ve been battling, almost as if they’ve been caught holding an overstuffed suitcase at airport customs!
- Drama alert! The lawsuit alleged that they were guilty of conspiring to inflate commission rates in collaboration with the National Association of Realtors (NAR) and HomeServices of America. Turns out this is as good as telling your mom you didn’t eat the last piece of cake while the crumbs are still on your shirt!
Unfortunate Slip Of The NAR Tongue
- NAR, in response to the whole debacle, claims innocence like that one friend who swears they can handle their liquor but can’t remember who dropped them home the night before.
- They’ve argued in court that the commission guidelines they’ve set are totally within fair business practices. Something smells fishy, and it ain’t leftovers from yesterday’s sushi!
Sour HomeServices
- Meanwhile, HomeServices of America, who’s also been hit with blame faster than a stranger walking past a wet paint sign, has kept mum about their involvement in the suit. Seems like the cat’s got their tongue, or in this case, maybe the lawyers do?
- The conglomerate has chosen to solve things in court, opting to hold their cards close to their chest like an old poker player not ready to scuttle their winning streak.
Here’s my sizzlin’ hot take on this home-cooked mess: This lawsuit, like a hyperactive child in a toy store, has caused much upheaval in the world of real estate. It’s more drama-filled than a season-ending episode of a reality TV show! What this tells us, besides underscoring that large corporations aren’t the saints we need but the sinners we get, is that there’s a need for increased transparency in commission fees and industry practices. Because at the end of the day, who needs their house served with a hefty side of unexpected costs and legal phoniness? Not you, not me, no one! Boo to hidden extras! Let’s see how this pans out; but remember, folks, at the end of every storm, there’s a rainbow, and hopefully, that rainbow leads to a pot of gold … or at least, to reasonable commission rates!
Original article: https://www.inman.com/2024/02/03/keller-williams-settled-what-does-nar-do-now-the-download/
