Real Estate Stocks Hit By NAR Lawsuit
A Kansas City jury just delivered a verdict that could shake up the residential real estate market. 😮
The National Association of Realtors (NAR), HomeServices of America, and Keller Williams were found guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule. The plaintiffs and lead attorney argued during the two-week trial that the trade group and corporate brokerages knowingly violated their own antitrust rules to juice their commissions. And the ruling requires the defendants to pay damages of $1.78 billion, which could be increased if “treble damages” are assessed. 💰