Berkshire Hathaway's property brokerage to pay $250M to settle commission suits

seekingalpha04-27

HomeServices of America, a real estate company owned by Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B), has agreed to pay $250M over the course of four years, the Associated Press ...

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The real estate industry has faced increased scrutiny lately due to various lawsuits targeting commission structures. Last month, the National Association of Realtors agreed to pay $418M to settle a series of claims of collusion within the real estate industry aimed at maintaining artificially high agent commissions. Re/Max (RMAX), Compass (COMP) and Anywhere Real Estate (HOUS) are among the publicly-traded brokerage operations that have agreed to settle. HomeServices' proposed settlement payout represents an aftertax accounting charge of about $140M, it noted, AP reported. It added that its parent company is not part of the settlement. 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