The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.
Looking back at this year, it’s no surprise that 9 out of Inman’s top 10 most-read stories of the year were commission lawsuit centered. The 10th story, at No. 9 on the list, was about Keller Williams cutting profit sharing for agents who fled to competitors.
Because we’re sure you remember these stories all too well, we’ll just get to it without further ado. Here are the top news stories of 2023, ranked by readership.
1. Sitzer | Burnett: Live updates from the buyer-agent commission trial
By Inman, initially published Oct. 16, 2023
The eight-member jury in the Sitzer | Burnett trial is deliberating on the 12th day of the trial.
Jurors awarded full damages totaling $1.78 billion to homesellers after deliberating for 2 hours and 28 minutes. Live coverage continued with statements from the winners and losers.
2. Jury awards $5B to homesellers in landmark Sitzer | Burnett verdict
By Andrea Brambila, Oct. 31, 2023
Jurors in the two-week commission trial shocked the real estate industry, awarding an astonishing $5.36 billion in damages to homesellers after deliberating for 2 hours and 28 minutes.
3. Bombshell multibillion-dollar commission suit now a class action
By Andrea Brambila, Oct. 29, 2023
Sirocco / Shutterstock.com
A judge granted class certification in a federal commission suit that could rock the real estate industry and impact how agents are compensated nationwide.
4. Mother of all commission suits filed in Illinois, this time by homebuyers
By Andrea Brambila, Nov. 8, 2023
Getty Images
“Batton 2,” exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed in Illinois and took aim at many of the defendants in another new suit called Gibson.
5. RE/MAX settles bombshell commission lawsuits for $55M
By Andrea Brambila, Sept. 18, 2023
spxChrome and Getty Images
The deal resolved claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including “no longer forcing homesellers to pay buyer’s agents.”
6. Redfin leaves NAR — and calls on its brokers and agents to follow suit
By Ben Verde, Oct. 2, 2023
Glenn Kelman of Redfin. Image By: AJ Canaria of MoxiWorks
In a message to employees, Redfin CEO Glenn Kelman cited NAR’s harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships.
7. In ‘sudden’ reversal, NAR says listing brokers can offer 0%
By Andrea Brambila, Oct. 6, 2023
Gwoeii / Shutterstock.com
An attorney for the Sitzer | Burnett homeseller plaintiffs called the change a “stunning admission of guilt” on the eve of a class-action trial.
8. Anywhere settles bombshell Sitzer and Moehrl commission lawsuits
By Andrea Brambila, Sept. 5, 2023
Getty Images, Thomas De Wever, Werner Schnell, Christian Thiel, EyeEm
Exact terms were revealed when the plaintiffs asked the court to approve the deal, but an attorney for the plaintiffs said the franchisor was the first of the defendants to agree to “change its practices.”
9. Keller Williams cuts profit sharing for agents who fled to competitors
By Andrea Brambila, Aug. 23, 2023
Gary Keller
The franchisor drastically slashed profit share for “vested KW agents who actively compete with our brokerages” unless they return within six months, Keller Williams President Marc King said.
10. Anywhere reveals the details of its bombshell commission settlement
By Taylor Anderson, Oct. 6, 2023
Getty Images, Thomas De Wever, Werner Schnell, Christian Thiel, EyeEm
Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents would no longer be required to belong to the National Association of Realtors.