Antitrust Lawsuit Settlement Postcards
February 25, 2025From time to time, some of your former clients will likely receive postcards regarding one of the settled class action lawsuit. The postcard (or email) will notify the recipient that they may be eligible as class members in one of the settled antitrust lawsuits discussed within the industry in recent years. Your former client may reach out to you for more information or even advice as to how to proceed.
As you consider the response you will give, remember that this is not personal. You are not financially liable to the former client as a result of the settlement and your personal reputation will not be impacted by any decision the former client makes with regard to claiming eligibility.
Whether the former client chooses to claim eligibility or not is entirely up to them and if they need assistance in making their decision, you should advise them to talk to their own lawyer. Your assurance, however, should be that whatever decision they make must be the best decision for them and that it will have no negative impact on you.
You may also want to use this communication with the former client as an opportunity to remind them of the value you and your firm gave them when they needed to sell property. Discuss the role you played in helping them achieve their objective, highlighting the specific benefits and services you provided. Your goal will be to reinforce the positive impact of your professional relationship without being defensive. Remember, this is not an attack on you or your firm.
Finally, you may want to inform them about recent efforts by your REALTOR® association to support changes in Washington law that enhance transparency and empower buyers and sellers. Explain how recent changes in Washington law require upfront negotiations between consumers and brokers regarding compensation and services, ensuring that buyers and sellers have a clear understanding of what to expect at the outset of their relationship with a real estate broker. This context can help clients appreciate the evolving real estate landscape and how it benefits them. Refer them to https://AgencyGuideWA.com for helpful resources around recent Agency Law changes.
Maintaining open, informative, and supportive communication with your former clients can help them navigate concerns they may have about the notification and its implications, while also reinforcing the value and professionalism of your service.