BREAKING LAWSUIT UPDATE: Keller Williams Finally Settles Real Estate Commission Lawsuit
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Ricky Carruth brings the fire of his 21 years of real estate industry experience to the table everywhere he goes. He eats, sleeps and breaths real estate. Some of his achievements includes a three-time #1 RE/MAX agent, the top agent in his county for eight straight years and two-time author. In 2016, he became the first completely free real estate coach in the industry helping reduce the failure rate one agent at a time. He has had one of the loudest voices on the internet when it comes to the strength of the housing market since the pandemic. His presentations are energetic and full of the most recent housing data. You aren't going to want to miss his next event or video. And, as Ricky says, "Let's GOOOOO!"
What was not asked is whether the plaintiff’s lawyer was working with institutional investors or the new competitor of Nar?
Who is the competitor of NAR?
@@Broker205AREA
This whole lawsuit is absolute bullshit to begin with, and it’s disgusting to me to hear the costs involved to appeal, and having to consider not even appealing just because our judicial system is financial based. So basically you don’t have a path to justice unless you have a lot of money.
I agree ☝🏼👍🏻
It would have cost them way less to fight it. The will to fight was not there so its clear KW is in on the scam too. They are creating a partnership to create a monopoly in the industry. That is the real conspiracy behind the vale.
Thanks Ricky!
Ricky your so amazing ❤❤❤😮😮
Head down grinding. Inspiration for today.
I had 3 listings and 2 closings in January!
Why are they settling?
Translation: Listing agent get full commission, double ending pretty much every deal. Buyers agents or zillow agent: Pffftt
I disagree that this was the right move. KW basically screwed over the industry. We need to fight the charges as we all know what could happen not only to change our biz but to hurt home buyers. KW took the easy way out.
Well, they don’t have $5B, soo….they really didn’t have a choice.
kw was one of the only ones that stood up. Other settled long ago… at least they fought it this long
@@RickyCarruth they have a choice. Win! We all know that the likely hood of paying $5 billion is remote with good attorneys. We should stick up for ourselves. Glad Berkshire is still fighting at least for now. This could make everyone capitulate. Sad
They would have to put up a bond for their part of the $5B to appeal. Where would they get that?
@@RickyCarruth your assuming they would lose. Did you fight to get where you are by worrying the cost of you didn’t win or succeed? This is about more than just money. This is our reputation and value. Can you put a price on that? Well I guess KW did. Talking to a lot of fellow agents and they feel this way.
Berkshire Hathaway Home Services are still in the process of appealing. I expect that they will go the whole way. From what I had heard, the judge made errors in the instructions to the jurors that could be a basis of an appeal and have the ruling overturned. In the meantime, if us agents want to, we can have the buyer sign an agreement that if the seller does not split with the buyer the commission, then the buyer is responsible to the buyers agent their commission.
True. I heard that too
Pre determined outcome with a strong agenda. I believe to unfortunately cripple our housing market. It’s way too one sided and seems like the industry was railroaded from the get go. This will affect how smooth and efficiently the real estate machine currently operates. I think ultimately it will negatively impact the ability to own your own property in America unless there’s some kind of reform with our financial systems put in place to assist buyers.
I’ve been in the business for almost 2 years (June) and my KW brokerage has been encouraging us for a long time to have those buyer agency agreements signed that state they would be responsible for paying the BA commission should the seller side not offer anything. I will just continue getting those listings and explain to the seller the pros of offering BA commission, and of course letting them know it’s all negotiable.
None of this makes any sense. In the listing agreement it clearly states the total commission for the service. Then on that same first page, it shows how that total commission is divided if a cooperating broker brings in the buyer. There is absolutely nothing to sue anyone for. Sellers always ask what the commission will be to work that a particular agent. That agent puts a number on the table and there is either an agreement or a negotiation. There is absolutely nothing wrong with the way all of this is handled. This is all about lawyers finding a way to make a killing by taking advantage of our business. I say we go after them now and ask if their fees are negotiable…
You did not get carried away with the lawsuit my guy, your keeping us informed! Keep it coming big dog, and thank you for everything you’re doing. PS I’ll be in Houston on March 7th for your event at City Centre. Hope to meet ya!
see ya there