Judge rules that Crye-Leike isn’t covered by the NAR settlement

By Housing News

According
to
data
from

RealTrends
Verified,

Crye-Leike
closed
about
$7
billion
in
sales
volume
in
2022,
which
would
prevent
it
from
being
included
in
the
settlement.
If
it
was
ruled
to
be

six
different
companies
,
they
would
be
included.

The
six
companies
are

Crye-Leike
Inc.,
Crye-Leike
of
Arkansas,
Crye-Leike
of
Mississippi,
Crye-Leike
of
Nashville,
Crye-Leike
South

and

Adaro
Realty.

The
companies
are
all
owned
by
Harold
Crye,
but
he
argues
that
they
are
independent
companies
with
separate
management
and
accounting.

The
ruling
is
in
the

Gibson
commission
lawsuit,

one
that
was
filed
hours
after
the
guilty
verdict
in
the
Sitzer/Burnett
that
led
to
the
landmark
NAR
settlement.
The
Gibson
suit
is
generally
the
same
as
Sitzer/Burnett;
the
plaintiffs
argue
that
NAR
and
brokerage

defendants

conspired
to
artificially
inflate
commission
rates
for
buyer
agents,
and
both
suits
were
brought
in
Missouri.


The
Gibson
suit

had
more
defendants
than

Sitzer/Burnett.

Two
of
them


Weichert

($8.5
million)
and

eXp

($34
million)

have
settled
a
similar
case
in
Georgia
and
are
waiting
for
preliminary
approval
of
the
terms,
which
will
affect
the
Gibson
suit
as
well.

Judge
Stephen
Bough

who
presided
over
Sitzer/Burnett
and
is
currently
overseeing
Gibson


came
under
fire

this
week
from
defendant


Howard
Hanna
Real
Estate
Services,

which
alleges
that
Bough
has
a
conflict
of
interest
and
should
recuse
himself
from
the
case.

Matthew
Dameron,
an
attorney
for
the
plaintiffs,
made
a
donation
to
then-Kansas
City,
Missouri
City
Council
candidate
Andrea
Bough,
who
is
Judge
Stephen
Bough’s
wife.
Howard
Hanna
said
that
Bough
offered
to
recuse
himself
in
Sitzer/Burnett
for
this
reason
and
should
do
so
for
the
Gibson
suit
given
Dameron
is
a
plaintiffs’
attorney
in
both
cases.

He
did
recuse
himself
in
a
suit
against
a
gun
manufacturer
over
the
donations,
which
Howard
Hanna
has
seized
on
as
evidence
Bough
knows
he
has
the
appearance
of
a
conflict
of
interest.

 

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