HomeServices of America, a real estate brokerage owned by Berkshire Hathaway Inc., reached a settlement agreement in a lawsuit taking aim at agent commissions industrywide.
The brokerage agreed to pay a total of $250 million over the course of four years in its settlement of the Missouri lawsuit, commonly referred to as Sitzer and Burnett, according to HomeServices of America Executive Vice President Chris Kelly. The company said the settlement, subject to court approval, will help protect its agents from related lawsuits.
“While we have always been confident in the legality and ethics of our