Items Tagged with 'buyer broker compensation'

ARTICLES

  • Realogy slapped with class-action suit for securities fraud

    Accuses brokerage of defrauding investors by not disclosing buyer broker compensation issues
    For nearly six months, the ongoing debate over buyer broker compensation has loomed large over the real estate industry, with two lawsuits taking the practice to task. Now, a third lawsuit has been filed that touches on the issue. This time, it’s a class-action suit against Realogy alleging that investors purchased securities at inflated prices because of the brokerage’s failure to disclose “anticompetitive” behavior.
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  • Anti-trust lawsuits contesting buyer broker compensation rules heat up

    Plaintiffs join forces, strengthen allegations against NAR, MLS providers
    In recent months, the National Association of Realtors and four leading multiple listings service providers have been hit with two class-action lawsuits taking aim at buyer broker compensation rules. Now, things are heating up as the two plaintiffs have teamed together, filing an amended complaint in Chicago federal court that consolidates their cases, tosses six more plaintiffs into the mix, and elaborates on the allegations.
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  • DOJ demands to see CoreLogic's MLS data in antitrust probe

    Investigation follows lawsuits against NAR, MLS providers on buyer broker compensation rules
    The Department of Justice recently sent a letter to CoreLogic requesting access to its MLS data regarding buyer broker compensation, a clear sign that the federal authorities are actively investigating allegations of antitrust violations among multiple listing service providers.
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  • NAR slapped with second class-action lawsuit to end buyer broker compensation

    Suit alleges mandatory fees for buyer's brokers violate anti-trust laws
    A second class-action lawsuit has been filed in protest of the buyer broker compensation rules set forth by the National Association of Realtors. The suit alleges that NAR and MLS providers violated federal antitrust laws by requiring property sellers to pay the buyer's broker an inflated fee, a claim NAR called "completely without merit" as it vowed to defend its policies in court.
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  • Class-action lawsuit takes aim at buyer broker compensation rules

    Home seller claims NAR, MLS providers have conspired in violation of anti-trust laws
    A class-action lawsuit filed last week by a Minnesota home seller is taking aim at the big four multiple listing services that have transformed the real estate business. The suit alleges that the National Association of Realtors has driven up costs to sellers and has stifled competition by requiring brokers to offer buyer broker compensation when listing a property on an MLS site, and it names NAR, Realogy, HomeServices of America, RE/MAX and Keller Williams as the culprits.
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