Will this 1.78B verdict change the real estate industry? #realestatenews #realestate #housingmarket

Will this 1.78B verdict change the real estate industry?

As you may have heard, there was a huge verdict in a real estate lawsuit which has raised a lot of questions and concerns within the real estate industry, and I wanted to try and answer some of those questions for you.

A Kansas City jury has ruled that the National Association of Realtors and other real estate organizations conspired to artificially inflate home sale commissions. The organizations have been ordered to pay $1.8 billion in damages to around half a million Missouri home sellers. The case, which began in 2019, stemmed from allegations that the NAR, along with real estate firms Keller Williams Realty and HomeServices of America, conspired to maintain high commissions through a nonnegotiable offer rule on the Multiple Listing Service (MLS). The plaintiffs argued that this rule hindered competition and led to higher prices. Both NAR and HomeServices plan to appeal the verdict, while Keller Williams expressed disappointment that the jury couldn't consider certain evidence related to Missouri law.

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Rebecca Richardson, AMP
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