A lawsuit filed in U.S. District Court in Chicago claims that multiple real estate brokerages, along with NAR and its affiliates, engaged in a conspiracy to maintain elevated commissions for buyer-agent services. The suit alleges that these defendants adopted practices that harmed consumers and homebuyers, making commission structures opaque and artificially high. Specific allegations include the prohibition of commission disclosure and limits on buyer-agent commission reductions. This lawsuit marks a significant development as it is filed by a different attorney than previous suits.
The lawsuit claims that defendants engaged in conspiracy to perpetuate anticompetitive measures in the real estate broker services market, harming consumers through inflated commissions.
NAR and affiliated entities are named as co-conspirators, indicating a network of interconnections between brokers and associations impacting commission practices.
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