Landmark Verdict: Real Estate Industry Practices Challenged in $1.8 Billion Lawsuit
Kansas City, Missouri – A federal jury has ordered the National Association of Realtors (NAR) and several major real estate brokerages to pay nearly $1.8 billion in damages after finding that they artificially inflated commissions paid to real estate agents. The verdict stems from a class-action lawsuit filed in 2019 on behalf of 500,000 home sellers in Missouri and border towns, alleging the defendants violated federal antitrust law by requiring sellers to pay the broker representing the buyer of their homes. The NAR, which plans to appeal the verdict, could potentially face over $5 billion … Read more