Anywhere Settles Nationwide Lawsuit

HELLO COLDWELL BANKER REALTY AGENTS,

I am pleased to share that earlier today our parent company, Anywhere, received final court approval on our nationwide settlement, solidifying its agreement in the industry class action cases and protecting Coldwell Banker Realty affiliated agents from further legal action related to the antitrust claims.

No immediate action is required of you. This message is simply meant to outline what the settlement approval means and what you can expect in the future. We will continue to update you about industry changes via future live events and your managers will share resources for you to use with your clients in the coming months.

What You Need to Know: Settlement Approved

Earlier today, Anywhere received final court approval of our nationwide settlement for the antitrust legal cases, which protects Coldwell Banker Realty, along with our affiliated agents.
This is a significant milestone that solidifies the terms of our settlement and allows us to move toward implementation of the agreed-upon practices.
The Anywhere settlement is independent of the NAR settlement announced in March 2024; the NAR settlement sets forth additional practice changes, including provisions surrounding buyer agreements and offers of compensation off the MLS.
Coldwell Banker Realty is committed to providing you with the best-in-class tools and training to ensure you are prepared for any and all practice changes that may occur in your market.
What Happens Next?

Recall that, in October, Anywhere announced terms of a nationwide settlement in the antitrust class action cases, which releases the company, along with our affiliated agents, from current and future litigation related to these claims. As part of our settlement, we agreed to implement several practice changes in our company-owned brokerages, which includes Coldwell Banker Realty, many of which we have already been adopting or calling for the industry to adopt.

Now that the company has final court approval, we anticipate we will implement these changes in Q4 this year.

What About the NAR Settlement?

In March, as part of the same legal cases, the National Association of REALTORS® (NAR) announced a settlement agreement, which has since been preliminarily approved. The NAR settlement does not replace the Anywhere settlement, nor does it impact the protections we secured for our affiliated agents.

While the NAR settlement practice changes are similar to what Anywhere has agreed to, it does have some different deadlines and provisions, which will create additional terms by which MLS participants and NAR members will need to abide. NAR has said they expect to implement these changes by August 2024.

The two additional primary practice changes set forth by the NAR settlement include:

The NAR settlement eliminates buyer broker compensation fields on the MLS, but states that offers of compensation may be made off the MLS.
The NAR settlement requires buyer brokers to enter into a written agreement, which specifies the amount or rate of compensation, with the buyer before showing a property.
Anywhere and Coldwell Banker Realty support all affiliated agents’ use of buyer agreements, which help promote greater clarity and transparency for consumers.
Anywhere and Coldwell Banker Realty will continue to provide you with the most up-to-date guidance and training about any forthcoming practice updates and industry changes. You can reference some of these existing materials below:

Resources to Help You Move Forward with Confidence

As part of our ongoing commitment to excellence, we are working to enhance and expand the learning resources available to you, our agents. There’s no better time than now to hone our value proposition and learn new skills. I encourage you to bookmark the following resources and register for one of our many classes available on Coldwell Banker University (CBU).

Industry Updates page on MyCBDesk: Visit and bookmark this page on CB Desk to stay informed with the most up-to-date information and resources from Coldwell Banker Realty on Moving Forward with Confidence. You will find talking points, links for upcoming events, social media assets and more! You can also find this page on Desk via the left navigation panel > Company > Industry Updates.
Winning with Buyers: Leveraging the Buyer Representation Agreement Class: With the changing landscape, now more than ever is the time to go back to the basics, to brush up and sharpen your skills around buyer representation. These classes are available through CBU on May 15, 17, 21, 23, and 29 at various times. Register today for a tune-up on buyer consultations and buyer representation agreements by visiting Desk > CBU > Winning with Buyers.
Perfect Pitch: If you haven’t had the opportunity yet, join a national presentation of the Perfect Pitch Agent Value Proposition on May 31 at 11 a.m. ET / 8 a.m. PT. The field marketing team will help you define your unique agent value with credibility, relevance and differentiation. Secure your spot by registering on CBU.
Social Media Assets: For those of you who wish to share our company’s stance on various topics affecting the real estate industry, assets are now available to share with your sphere on social media.
Enhanced Agent Support Roles are headed your way: We’re improving our service to you, our agents, by implementing transaction management, agent sales support and agent onboarding services – taking the “busy work” out of some aspects that occur from contract to close. We’ve seen great success in pilot markets and we’re ready to bring the streamlined ease of operations to all metros by the end of the year.
Please continue to email questions to CBRealty@cbrealty.com and any additional legal questions to ask.anywhere.re. We will continue to answer these questions in future communications, live events, or by direct email back to you.

We are excited to have reached this very important milestone and are committed to keeping you apprised of the latest industry updates and resources to help you move forward with confidence. In the meantime, thanks for everything that you do to help more people achieve their dreams of homeownership, every day.

Thank you,

Kamini Lane
President and CEO
Coldwell Banker Realty

To unsubscribe from Coldwell Banker communications, click here.

© 2024 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations.