02/05/2024
Dear Team,
Here is news directly from Gary Keller concerning the settlement reached with the Sitzer-Burnett decision:
Keller Williams Family,
I’m relieved to share that we have negotiated a nationwide settlement of the Sitzer/Burnett case – on terms that protect our agents, our franchisees, and our industry. Crucially, the settlement releases individual agents and franchisees from copycat litigation filed in the wake of Sitzer/Burnett.
This is a significant moment for our entire Keller Williams family. As you all know, we fought hard for our agents and franchisees and their ability to manage their own businesses according to accepted, ethical industry practices. However, over the past few months, the Sitzer/Burnett verdict drove speculation and uncertainty across the industry.
We had full confidence in the strength of our appeal. But we also knew the appellate process could be long and unpredictable – and that our franchisees and agents would have no protection and complete uncertainty while that process played out over time. Our Keller Williams family needs and deserves protection now, not later.
We came to the decision to settle with careful consideration for the immediate and long-term well-being of our agents, our franchisees, and the business models they depend on. It was a decision to bring stability, relief, and the freedom for us all to focus on our mission without distractions. It allows us all to turn our attention back to what we do best: delivering unparalleled value in an ever-evolving real estate market.
Evolution is certain. I hope and believe that all of us at Keller Williams will be leading that evolution for many years to come. We will continue to play by the rules, act ethically, advocate for the integrity of the industry, and – of course – deliver value.
Keller Williams was built for entrepreneurs. This ethos is at the core of our business, allowing agents the freedom to manage their businesses, set their service fees, and negotiate compensation with clients independently. That was true before these lawsuits, it was true at trial, and it remains true as we put this settlement behind us.
I want to thank you for your unwavering support during these challenging times. Your resilience, dedication, and trust in Keller Williams have been pivotal to our ability to navigate this period.
As we move forward, we will continue to pivot, adapt, and thrive – just as we always have. This settlement is not just a resolution; it’s a launchpad. We will remain focused on what we do best: building our businesses and transforming the real estate industry together.
Thank you for your continued commitment to excellence and for being an invaluable part of the KW family.
Thank you for all you do to help others live their best lives possible.
Onward with gratitude ...
Gary Keller
Executive Chairman, KWRI