Keller Williams Realty Inc. has agreed to pay $70 million to settle antitrust claims in a suit accusing the National Association of Realtors and other industry players of colluding to inflate brokerage commissions.
The proposed settlement and the plaintiffs’ request for approval of its terms was filed Thursday in the US District Court for the Western District of Missouri. It marks the third defendant to reach a settlement in the case. Re/Max and Anywhere Real Estate previously reached settlements.
The settlements follow a $1.8 billion verdict against NAR and various real estate brokerages, pushing potential damages into the hundreds of billions. Home sellers accused the powerful trade group of forcing them make inflated payments to buyers’ brokers.
Keller Williams denied any wrongdoing but said it entered into the settlement to avoid further expense and protracted litigation.
The plaintiffs are represented by law firms including Ketchmark and McCreight PC.
Keller Williams is represented by law firms including Holland & Knight LLP.
The case is Sizer v. National Association of Realtors, W.D. Mo., No. 4:19-cv-00332, 2/1/24.
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