- The verdict in the Sitzer/Burnett trial was decided with less than three hours of deliberation, and additional class-action lawsuits were immediately filed against major brokerages.
- Zillow acquired CRM Follow Up Boss for $400 million in initial cash consideration and up to $100 million in a potential cash earnout.
- An international research team developed a method for using a laser to melt and remelt parts of a 3D-printed metal object, which could be a game changer for 3D-printed buildings.
This week, Drew Meyers highlights Owners, a platform to help launch, grow, and scale home service businesses. Before that, Sam Westelman argued that, in the wake of the Burnett and Moehrl lawsuits, now is the best time in history for the fee-for-service model that entrepreneurs have been chasing for decades.
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DROPPING THE AX
By: Drew Meyers
The verdict is already here. In the Sitzer/Burnett trial in U.S. District Court in Missouri, "the jury ruled for the plaintiffs..., awarding full damages of nearly $1.8 billion," according to RealEstateNews. The two week trial between sellers in Missouri and The National Association of Realtors, Keller Williams and HomeServices of America was "decided with less than three hours of deliberation." The jury decided a conspiracy did take place. Following the verdict, lead attorney for the plaintiffs Michael Ketchmark "immediately filed a similar class action suit against NAR and seven major brokerage companies: Compass, eXp, Redfin, Howard Hanna Real Estate, United Real Estate, Douglas Elliman and Weichert Realtors."