According to a report from Reuters, a federal court in Kansas City, Missouri has ruled in favor of the plaintiffs in a class action lawsuit against the National Association of Realtors (NAR), awarding them $1.78 billion in damages. The lawsuit represented sellers of over 260,000 homes in Missouri, Kansas, and Illinois between 2015 and 2022 who objected to the commissions they had to pay to buyers’ brokers. The NAR plans to appeal the verdict.
The U.S. Department of Justice has also requested a federal appeals court in Washington to revive an antitrust probe into the NAR’s practices. To read the full story on Reuters.com, click here. To read the NAR’s response, click here.
NAR Found Liable for Inflating Commissions; Jury Awards $1.78 Billion in Damages
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