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Lawsuits over who should pay buyer’s agent could upend housing market

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Similar antitrust complaints filed against NAR, other brokerage giants.

By Kenneth R. Harney Kenneth R. Harney Email Bio May 15 at 6:30 AM The long knives are out again for one of American real estate’s oldest and most controversial traditions: requiring home sellers to pay the agents who represent the buyers of their properties.

The original suit, which already ranks as the most significant antitrust litigation against real estate agents in decades, is now pending in U.S. District Court in Chicago, with NAR’s reply to the complaint expected shortly. NAR, which is the largest lobby in the real estate field, rejects the premises of the suits and pledges to fight them vigorously.

Today, however, buyers don’t give it a thought, and they often do not even know what commission split the buyer agent expects to receive.

 

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