Realtors found liable for $1.8 billion in damages in conspiracy to keep commissions high

Washington, DC (CNN) — A Missouri jury on Tuesday found the National Association of Realtors, a real estate industry trade group, and some residential brokerages liable for nearly $1.8 billion in damages after determining they conspired to keep commissions for home sales artificially high.

“This matter is not close to being final as we will appeal the jury’s verdict,” said Mantill Williams, NAR VP of Communications. “In the interim, we will ask the court to reduce the damages awarded by the jury.”

Warren Buffett’s Berkshire Hathaway-owned HomeServices of America and two subsidiaries, as well as Keller Williams Realty, were among the other real estate groups the jury found guilty of conspiring.

The lawsuit covered home sales that took place between April 2015 to June 2022.

This is a developing story and will be updated.