Realtors® Hit With ANOTHER Class-Action Law Suit
MORE BIG NEWS!
ANOTHER class-action lawsuit has been filed against The National Association of Realtors® and big names like Realogy, HomeServices of America, RE/MAX and Keller Williams.
Here is an excerpt from the full HOUSINGWIRE article you can find here:
“The suit alleges that the defendants conspired to drive up seller costs and reduce competition by requiring a home seller to pay compensation to the buyer’s broker, even though their involvement in the transaction is minimal.
According to the suit, NAR’s Commission Rule maintains a commission requirement for buyer’s brokers of 2.5-3% of the home’s sale price. This has not changed in recent years, even as buyers increasingly turn to online listing sites to find their homes and often only retain a broker once a property has been selected.”