- A U.S. jury in Missouri on Tuesday said the National Association of Realtors and several real estate companies together owe more than $1.7 billion in class action damages, finding they conspired to artificially drive up the commission that home sellers pay to buyers' brokers.
The jury award will be automatically tripled under U.S. antitrust law to more than $5.3 billion, said Michael Ketchmark, the lead lawyer for the plaintiffs."Today was a day of accountability," Ketchmark said. A spokesperson for the National Association of Realtors, Mantill Williams, also said it would appeal and ask the court to reduce the damages amount.
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