WSJ:
KANSAS CITY, Mo.—A federal jury on Tuesday found the National Association of Realtors and large residential brokerages liable for about $1.8 billion in damages after determining they conspired to keep commissions for home sales artificially high.
…
Under the current system, sellers pay their own agent a commission—typically 5% to 6% of a home’s selling price—which is in turn shared with the buyer’s agent. Over the course of the trial, plaintiffs’ attorneys argued this model has suppressed competition by making it difficult for buyers and sellers to negotiate for lower rates.
HT: Michael H.
