PETTIT LAW FIRM


Associated tags: Class Action Lawsuit, Professional Services, Legal, Justice, Multiple listing service, National Association of Realtors, MLS, Fear, District court, File, Keller Williams Realty, Lawyer, Texas Association, Real estate, Practice of law

Locations: UNITED STATES, NORTH AMERICA, TEXAS, DAVE, MISSOURI, KANSAS, ILLINOIS, SHERMAN

Pettit Law Firm: Lawsuit Alleges Conspiracy to Inflate Commissions by Texas Residential Real Estate Companies

Retrieved on: 
Wednesday, November 15, 2023
Class Action Lawsuit, Professional Services, Legal, Justice, Multiple listing service, National Association of Realtors, MLS, Fear, District court, File, Keller Williams Realty, Lawyer, Texas Association, Real estate, Practice of law

Two North Texas home sellers have filed a proposed class action lawsuit alleging an unlawful conspiracy between residential real estate companies and related associations in the state to inflate commissions and artificially drive up home prices for buyers.

Key Points: 
  • Two North Texas home sellers have filed a proposed class action lawsuit alleging an unlawful conspiracy between residential real estate companies and related associations in the state to inflate commissions and artificially drive up home prices for buyers.
  • Also named among the more than 30 defendants are some of the state’s largest residential realty companies, including Ebby Halliday Real Estate, the Dave Perry-Miller Company and Keller Williams Realty.
  • Published reports indicate the average 6% commission in Texas is among the highest in the nation, and that Americans pay more than $100 billion in residential real estate commissions annually.
  • According to the lawsuit, the U.S. Department of Justice is also investigating the residential real estate brokerage sector, with a focus on broker commissions and related practices.