You’ve read the news: A federal judge in Illinois has granted class certification to a major commission lawsuit that could drastically change how agents are compensated across the country.
Judge Andrea R. Wood of the U.S. District Court for the Northern District of Illinois ruled last week that the “Moehrl case,” had achieved class certification, nearly a year after a similar federal lawsuit known as Sitzer/Burnett received class certification.
Plaintiffs in the Moehrl case, filed in 2019, allege that commission sharing inflates the costs for sellers, in violation of the Sherman Act. A ruling against National Association of Realtors (NAR) and various franchisors, including Anywhere, HomeServices of America, RE/MAX and Keller Williams, could disrupt the brokerage commissions model across the country.
What are you doing to prepare for possible outcomes?
As always, RealTrends has your back. At this year’s Gathering of Eagles, June 18-21, 2023 at the Omni Barton Creek Resort & Spa in Austin, Texas, we have multiple speakers and panels that will share some actionable strategies you can take to prepare your brokerage and diversify your income streams.
While it may take years to work through the courts before anything is official, it’s important you build a strategy now.
Tuesday, June 20
Legal Update: How to reduce risk and win in the courts of public opinion
From evolving consumer demands to class-action lawyers challenging the way we serve home sellers and buyers, one thing is constant — how we talk to consumers can help avoid risk and improve the consumer experience. Katie Johnson, general counsel and chief member experience officer of the National Association of Realtors will offer insight into these issues and tools for how real estate leaders can position themselves to win in the courts of public opinion.
Tuesday, June 20
Preparing Your Brokerage for Future Prosperity
Knowing that uncertain markets, potential lawsuit outcomes and regulation bring about innovation and diversification of business streams, we speak with three trailblazers to find out how they are preparing for tomorrow to build profitability. Consider this your live, interactive SWOT analysis.
Scott Brady, founder, Progressive Property Management
Renee Mueller, CEO, kw Elite Keller Williams
Vanessa Bergmark, CEO, Red Oak Realty
Wednesday, June 21
Growth in a tough market: New and effective ways to acquire and retain customers
Join moderator Brian Battaglia, CoreLogic’s Property Intelligence Solutions Executive, Jonathan Lickstein, COO and Managing Broker of LoKation Real Estate and several other brokerage leaders to discuss the power of data intelligence in powering and growing your brokerage.
To register for Gathering of Eagles 2023, click here. And, don’t forget to reserve your spot at the Omni Barton Creek by May 16 to lock in our exclusive rate. This conference is the must-attend event of 2023 for real estate presidents, senior leaders, and broker-owners.