Two companies, QJ Team and Five Points Holdings, are going after Texas Realtor associations and brokerages in the wake of the nearly $1.8 billion verdict against the National Association of Realtors, Keller Williams and HomeServices of America.
Texas-based homebuilder QJ Team and holding company Five Points Holdings are alleging a “concealed conspiracy” similar to the complaints in that landmark case, known as Sitzer/Burnett.
Who are these plaintiffs, who filed their lawsuit two weeks after the Sitzer/Burnett judgment?
Five Points Holdings is based in Dallas and has operated since 2011. The man behind the holding company is Fort Worth native and serial entrepreneur Mark Hulme.
Hulme came into focus in 2012 when he produced his first film, “Jobs,” a Steve Jobs biopic starring Ashton Kutcher, the Hollywood Reporter reported. Prior to his foray into film, Hulme founded the Five Star Institute, a media company.
In 2015, Hulme partnered with former Dallas Cowboys quarterback Tony Romo to put on a fantasy football convention at Las Vegas’ Venetian Resort, the Dallas Morning News reported. About 90 National Football League players agreed to attend, but the convention was canceled after the NFL told organizers that it violated the league’s policy on gambling.
The first National Fantasy Football Convention was held in 2017 in Dallas.
Hulme is also the owner and founder of Hospitality Inspirado, a restaurant group that includes Hugo’s Invitados, Lost Colony and the bygone Honest Taco.
Hulme is the registered agent for the following companies: The Fan Expo, FSI 3D, Lili Sitter, Whiteley Brothers Construction, Procureit5, SecretSmileLab, Five Star Image Lab and DGP Products, according to the Texas Secretary of State.
The other plaintiff in the suit is QJ Team, a homebuilder based in Granbury, a town about 45 miles southeast of Fort Worth. In addition to building new homes, QJ Team also remodels high-end homes, according to its website.
The company was registered with the state of Texas in April 2019. Kieu Le Handoko is listed as the agent on the company’s business filing. Handoko is also the registered agent for Clear Sky Home Construction, which was formed in 2022.
The lawsuit takes issue with the practice of sellers’ agents offering compensation to buyers’ agents in exchange for listing properties on multiple listing services, alleging it violates antitrust law. Plaintiffs are seeking class-action status for Texas home sellers who paid a “buyer broker commission” from November 13, 2019 and onward.
As examples, the lawsuit uses the sale of 7522 Azalea Lane in Dallas by Five Points Holdings and the sale of 3917 Legend Trail in Granbury by QJ Team. In the Five Points Holdings transaction, the buyer’s broker was Keller Williams Urban Dallas. In the QJ Team transaction, the buyer’s broker was Magnolia Realty.