• Kendall Smith-Sullivan

Realtors® Hit With ANOTHER Class-Action Law Suit


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.”

And, if you are so inclined, here is an actual link to the suit that was filed. Don’t think this issue is going away anytime soon folks….

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Copyright Kendall Smith-Sullivan 2019