In Kansas City, Missouri, a large antitrust case against several nationwide known real estate companies is underway. The defendants in this case are The National Association of Realtors and some of the largest real estate companies in the United States. They include Keller Williams, HomeServices of America and two of its subsidiaries. Defendants are being accused of artificially fixing the commissions that home sellers pay to buyers’ agents. The class members include over 260,000 home sellers that are seeking $1.3 billion in damages.
While both Keller Williams and HomeServices of America have denied the allegations, two other defendants in this case have agreed to settle to avoid uncertainty of litigation. Anywhere Real Estate planned to pay $83.5 million, and Re/Max agreed to pay $55 million. Both settlements are pending court approval. The scheduled trial is set to last through November 3rd, 2023.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
Midwest home sellers may now be eligible to participate in a class action that was recently certified in a federal lawsuit in Kansas City. Originally filed in 2019, the lawsuit alleges that home sellers in Missouri who used the Multiple Listing Service system were unfairly required to pay commissions to brokers representing home buyers. Along with the National Association of Realtors (NAR), four broker franchisors, including Realogy Holdings Corp., HomeServices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc. are also named as defendants.