A federal jury ruled on Tuesday that the powerful National Association of Realtors and several large brokerages had conspired to artificially inflate the commissions paid to real estate agents, a decision that could radically alter the home-buying process in the United States. The realtors’ group and brokerages were ordered to pay damages of nearly $1.8b. The verdict allows the court to issue treble damages, which means they could swell to more than $5b.
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Home Sellers Win $1.8b After Jury Finds Conspiracy Among Realtors
"Traditional brokers will undoubtedly now train their agents to welcome conversations about fees,” said Glenn Kelman, Redfin’s chief executive, in a statement following the verdict. “But it’s also possible that buyers will become the ones who decide how much to pay a buyer’s agent."
