Question: what does Sitzer-Burnett case say?
Cued up to:
 

Odd Lots:
A Stunning Lawsuit Could Change How Realtors Get Paid


Answer:

The Sitzer-Burnett case involved a civil lawsuit against the National Association of Realtors, Keller Williams, and Home Services of America. The plaintiffs, individual home sellers, alleged that these entities conspired to keep real estate commission costs artificially high. The jury awarded Missouri home sellers $1.8 billion, with a potential increase by a judge to as much as $5.3 billion in damages 00:03:30 - 00:03:56.

The case set a significant precedent for similar lawsuits in other states, potentially affecting the practices of realtors nationwide 00:37:00 - 00:37:24. The lawsuit highlighted anti-competitive practices where the commission prices were set in advance with no opportunity for buyers to negotiate 00:24:31 - 00:24:38. The plaintiffs argued that these practices unfairly forced consumers to pay high commissions 00:09:33 - 00:09:46.

Additionally, this case has influenced further actions, such as the Gibson case in Missouri, which is seeking national damages potentially up to $200 billion 00:37:30 - 00:37:36.