Real estate lawsuit to shift how homes bought, sold across Mass., U.S.
Written by Black Hot Fire Network on March 15, 2024
A powerful real estate trade association has agreed to pay $418 million and change its rules to settle lawsuits claiming homeowners have been unfairly forced to pay artificially inflated agent commissions when they sold their home.Under real estate rules used for decades, when a home is sold, the seller uses a portion of the proceeds, typically about 6 percent, to pay both their own real estate agent and the buyer's agent.But in more than a dozen lawsuits across the country, sellers sued the National Association of Realtors saying it's unfair to force them to pay . . .
