PHOTO: Adobe Stock A recently filed federal class-action suit against a national group and four large brokerage houses, including some in Utah, claims the defendants have been conspiring to force sellers to pay inflated fees in violation of federal anti-trust laws.
SALT LAKE CITY — A federal class-action lawsuit filed in Illinois last week against numerous real estate brokers, including some operating in Utah, as well as the National Association of Realtors, claims the defendants have been “conspiring to require home sellers to pay the broker representing the buyer of their homes, and to pay at an inflated amount, in violation of federal antitrust law.”
The complaint is seeking to both recover damages, potentially in the tens of billions of dollars, as well as change Realtor rules that the suit says “requires all brokers to make a blanket, non-negotiable offer of buyer broker compensation … when listing a property on a multiple listing service.”
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