Commissions case won't be finalized until 2024
Although the jury reached a verdict in the Sitzer/Burnett lawsuit on Oct. 31, post-trial motions will keep any judgment on hold until spring.
Any changes to compensation rules stemming from the Sitzer/Burnett verdict won't take effect for months, as U.S. District Judge Stephen Bough agreed to a schedule that allows for motions to be filed through early 2024.
What's happening: In court documents filed Nov. 14, Bough laid out a set of deadlines for post-trial motions, with filings due in January and final replies due March 18.
Any judgment made before then won't go into effect until 30 days after all post-trial motions have been resolved, which could put any new rules about buyer compensation issued by this judge on hold until at least later this spring.
Some of the post-trial motions have already been filed, including a request by the National Association of Realtors to reduce the amount of damages. The Missouri jury awarded damages of nearly $1.8 billion in the case; because it involved antitrust allegations, the award could be tripled to $5.4 billion.
NAR has vowed to appeal, and the association as well as defendants Keller Williams and HomeServices of America have all engaged prominent legal teams to assist with those anticipated appeals.
Status of the settlements: Bough is scheduled to hear a motion for preliminary approval of settlements in the Sitzer/Burnett case on Monday, Nov. 20.
In September, ahead of the trial, Anywhere and RE/MAX both agreed to monetary settlements and policy changes related to buyer agent compensation. Anywhere agreed to pay $83.5 million in damages and RE/MAX settled for $55 million in damages.