The Justice Department on Thursday stated that it is withdrawing from an antitrust settlement it reached last year with the real estate industry’s largest trade group over brokers’ commissions.The move marks a change in position by the Biden administration after Trump-era antitrust enforcers settled the agreement. It also indicates the department is composed to return to its previous investigation in order to take a wider look at practices in the real estate market.The department sued the National Association of Realtors on antitrust grounds and filed a concurrent settlement in November. The lawsuit accused the group of maintaining anti-competitive rules that created an environment in which there was little visibility for home buyers regarding the commissions a buyer’s agent would earn.The settlement included terms built to increase transparency and deter misrepresentations regarding broker commissions.
Justice Department Withdraws From Realtor Antitrust Settlement
Published by
November 28, 2024
(GMT+2)
WHAT TO READ NEXT
No items found.
STOCK ANALYSIS
MARKET OVERVIEW
SIMILAR NEWS
Ready to get started?
Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.
All investments involve risks, including the possible loss of capital.
www.mexem.com is a website owned and operated by MEXEM Ltd. MEXEM Ltd is a European broker regulated by CySEC, license No. 325/17.
Read our Forms & Disclosures.
Any advertisement or communication concerning the distribution of derivatives falling within the scope of the Regulation of the FSMA of 26 May 2016 governing the distribution of certain derivative financial instruments to retail clients is not addressed to the Belgian public.