Keller Williams Settles Nationwide Commission Lawsuits for $70 Million

Keller Williams Realty Inc. has agreed to pay $70 million to settle more than a dozen lawsuits nationwide over agent commissions, with the proposed settlement also aiming to provide more transparency for homebuyers and sellers. The lawsuits alleged that real estate brokerages engage in practices that unfairly inflate agent commissions. The settlement, which must be approved by the court, includes terms such as making it clear that commissions are negotiable and disclosing compensation structures. This move follows a federal jury's finding that the National Association of Realtors and several large real estate brokerages, including Keller Williams, violated antitrust law, with more than a dozen similar lawsuits pending against the industry.