New Antitrust Lawsuit

A new antitrust lawsuit was filed yesterday (August 22) against the National Association of REALTORS®, several different franchises, and an MLS/Association. The reasons for this lawsuit are very topical to our current environment and everyone needs to be aware of things NOT to do regarding the changes to commissions.

The general gist of the lawsuit: Back in 2015, there was a discount brokerage in Utah, Homie, that claims they were excluded and hindered by an anticompetitive campaign by other real estate offices to encourage each other not to show homes represented by Homie due to the lower buyer agent commissions. Some of the evidence presented in the lawsuit filings include; Facebook and social media posts to coordinate boycotts of Homie listings, messages to Homie agents stating they won’t show their property to potential buyers without a higher commission being offered and general “commission shaming”, and agents excluding Homie listings from hot sheets to name a few.

NAR was named in this suit because Homie claims it is NARs anticompetitive rules that caused all of this. 

This lawsuit is painting a picture of steering buyers to higher commission properties, excluding a Firm based on a business model and restricting competition.  Please keep all of this in mind as you work with Buyers and negotiate commissions.

cynthia@bcarnc.com   |   910-754-5700