Home buyers and sellers had a big week. Significant changes to how—and how much—they pay real-estate agents became more likely after a $1.8 billion verdict on Tuesday against the National Association of Realtors and large residential brokerages.
The defendants artificially inflated commissions and “conspired to require home sellers to pay the broker representing the buyer of their homes in violation of federal antitrust law,” a federal jury in Missouri found.
The lawsuit (and two others) could lead to a 30% reduction in the $100 billion that Americans pay each year in real-estate commissions, said Ryan Tomasello, a real-estate industry analyst with Keefe, Bruyette & Woods, in a research note on the case, reported the Wall Street Journal.
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