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The case was filed against the National Association of Realtors and some of the largest brokerages in the country. At trial, a federal jury found that they violated antitrust law by conspiring to force home sellers to pay inflated commissions to real estate agents.
When the lawsuit was initially filed, it included Anywhere Real Estate (formerly known as Realogy) as a co-conspirator to NAR’s practices, but that company reportedly settled out for $83.5 ...
The NAR and the other defendants argued in court that their commissions are always negotiable, and that the commission-sharing arrangement saves buyers, who are already weighed down with expenses ...
The lawsuit (and two others) could lead to a 30% reduction in the $100 billion that Americans pay each year in real-estate commissions, said Ryan Tomasello, a real-estate industry analyst with ...
An industry-shaking lawsuit has upended the way commissions are paid. ... The brokerages all settled out-of-court, and in March 2024, NAR settled as well, agreeing to pay $418 million in damages ...
Additional defendants in the case included HomeServices of America and Keller Williams Realty, among others. [13] On the same day as the jury's verdict, Ketchmark filed a larger class action lawsuit covering all home sellers in the United States who paid commissions since 2019, and is seeking $100 billion in damages. [14]
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
A new federal class-action lawsuit filed in South Carolina alleges that the powerful National Association of Realtors (NAR) and real estate brokerage firm Keller Williams Realty violated federal ...