Warren Buffett's real estate company has paid $250 million in an antitrust settlement.

The real estate company owned by Warren Buffett, Berkshire Hathaway, announced on Friday that it has reached a settlement agreement for an antitrust lawsuit totaling $250 million, which is expected to change the way real estate agents are compensated.

HomeServices of America, the largest real estate company in the U.S., was the last defendant in a lawsuit against the National Association of Realtors (NAR) and four brokerage firms. Its settlement will eliminate the risk of a much larger payout after a jury in Kansas City ruled in October in favor of homeowners who accused the industry of colluding to maintain artificially high real estate commissions in the state.

Berkshire Hathaway Energy, which owns HomeServices, was the last defendant in a lawsuit against the National Association of Realtors and four brokerage firms. The jury awarded $1.78 billion in damages, which the judge could triple. To finalize the settlement, HomeServices will need court approval. The homeowners' attorneys did not immediately respond to requests for comments.

NAR agreed to settle the antitrust lawsuit for a total of $418 million last month and won preliminary approval from a judge on Tuesday. The judge also agreed to review the rules regarding payment to selling and buying agents.

Including the latest settlement, NAR and brokerage firms including HomeServices Anywhere Real Estate and Re/Max will pay more than $943 million to settle antitrust claims. Berkshire Hathaway owns 92% of Berkshire Hathaway Energy, which owns HomeServices, as well as a number of utilities, pipelines and renewable energy projects.

The National Association of Realtors agreed to settle an antitrust lawsuit for a total of $418 million last month. HomeServices spokesperson Chris Kelly stated that the brokerage's settlement represents "the sole obligation of HomeServices, without any involvement from any parent company," and will result in an after-tax accounting charge of $140 million.

Berkshire Hathaway Energy remains a defendant in a similar case in Kansas City against several brokerage firms. The plaintiffs' attorneys have not yet responded to requests for comments. Buffett's empire, Berkshire Hathaway, ended 2023 with $167.6 billion in cash and cash equivalents.