Home Sellers Claim Antitrust Laws Violated

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CLASS ACTION LAWSUIT

The National Association of REALTORS® is seeking dismissal of a flawed lawsuit.

Plaintiffs have filed a class action lawsuit in the United States District Court for the Northern District of Illinois claiming that defendants National Association of REALTORS® (NAR), Realogy, RE/MAX, Keller Williams and HomeServices of America have conspired together around NAR’s adoption and implementation of a rule that requires all brokers to make a blanket, non-negotiable offer of buyer broker compensation when listing a property on an MLS.

While this practice has been litigated and settled many times in the past, once more some parties (no doubt backed by plaintiff bar attorney funding) have decided to challenge the practice where listing brokers agree to publish what they will pay to another broker working with a buyer for bringing that buyer to purchase their home. REAL Trends will report more on this as it moves through the system.

This article originally appeared in the April 2019 issue of the REAL Trends Newsletter. It is reprinted with permission of REAL Trends, Inc. Copyright © 2019.
To read the rest of this issue & more, please visit our Real Trends page online.

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