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.
The allegations are that real estate brokerages and NAR conspired to force home sellers into paying broker fees with inflated amounts to those brokers representing home buyers. The suit alleges this is in violation of federal and Missouri antitrust laws as well as Missouri Merchandising Practices Act.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.