US Real Estate Agencies Liable for $1.8 Billion Over Broker Fees

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Major US real estate agencies, including the National Association of Realtors, have been held accountable for $1.8 billion in damages, sparking a major industry shake-up.

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Allegations centered around a seven-year conspiracy, where agencies pressured home sellers to pay substantial commissions to buyers' brokers.

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The lawsuit argued that these practices inflated broker fees, causing homebuyers to bear higher costs and affecting competition among buyer brokers.

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The real estate industry felt an immediate impact, with shares of key players like Zillow, Compass, and Redfin Corp dropping significantly.

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This case is part of a larger trend of antitrust actions in the real estate sector, with the Department of Justice considering further involvement over broker fees.

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Despite the verdict, agencies like Keller Williams and Berkshire Hathaway's HomeServices of America expressed their intent to appeal. The outcome could reshape real estate transactions in the US.

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Read Also - U.S. Housing Supply Shows Signs of Improvement

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US Real Estate Agencies Liable for $1.8 Billion Over Broker Fees

US Real Estate Agencies Liable for $1.8 Billion Over Broker Fees

Oaklakeapts.com

Oaklakeapts.com

Major US real estate agencies, including the National Association of Realtors, have been held accountable for $1.8 billion in damages, sparking a major industry shake-up.

Major US real estate agencies, including the National Association of Realtors, have been held accountable for $1.8 billion in damages, sparking a major industry shake-up.

Allegations centered around a seven-year conspiracy, where agencies pressured home sellers to pay substantial commissions to buyers' brokers.

Allegations centered around a seven-year conspiracy, where agencies pressured home sellers to pay substantial commissions to buyers' brokers.

The lawsuit argued that these practices inflated broker fees, causing homebuyers to bear higher costs and affecting competition among buyer brokers.

The lawsuit argued that these practices inflated broker fees, causing homebuyers to bear higher costs and affecting competition among buyer brokers.

The real estate industry felt an immediate impact, with shares of key players like Zillow, Compass, and Redfin Corp dropping significantly.

The real estate industry felt an immediate impact, with shares of key players like Zillow, Compass, and Redfin Corp dropping significantly.

This case is part of a larger trend of antitrust actions in the real estate sector, with the Department of Justice considering further involvement over broker fees.

This case is part of a larger trend of antitrust actions in the real estate sector, with the Department of Justice considering further involvement over broker fees.

Despite the verdict, agencies like Keller Williams and Berkshire Hathaway's HomeServices of America expressed their intent to appeal. The outcome could reshape real estate transactions in the US.

Despite the verdict, agencies like Keller Williams and Berkshire Hathaway's HomeServices of America expressed their intent to appeal. The outcome could reshape real estate transactions in the US.

Read Also - U.S. Housing Supply Shows Signs of Improvement

Read Also - U.S. Housing Supply Shows Signs of Improvement