Game-Changer Alert: NAR Class Action Lawsuit over fixing commissions and 1.8 billion judgment

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WHATS GOING ON WITH THE N.A.R. CLASS ACTION LAWSUIT?

The Sherman Antitrust Act has been enforced in the United States since 1890, yet even now in the 21st century, allegations of price-fixing and anti-competitive behavior persist in the real estate industry.

Recently, the National Association of Realtors, one of the largest trade organizations in the country, was taken to task for its alleged role in a conspiracy for fixing the commission rates paid by home sellers (over 260,000 home sellers who sold from 2015 to 2019). In a class action lawsuit filed in federal district court in Kansas City, Missouri,

The judgment of the jury was 1.8 billion, with the potential for the damages to be trebled to over 5 billion dollars. Defendants have initiated an appeal, and this could take years and even make its way up to SCOTUS (Supreme Court of the United States).