27/06/2023
Two massive class-action lawsuits questioning the circuitous method of paying real estate agents have been filed before the U.S. Supreme Court, industry observers said Tuesday. The allegations stemmed from large-scale complaints against the payment scheme, in which the property seller ends up shelling out compensation to both his own broker and his counterpart buyer’s broker. This method had been bilking billions of dollars every year from home sellers, according to the plaintiffs, pointing out that that this has to stop. The outcome of this multi-billion litigation could radically reshape forever how families and individuals sell homes.
If the lawsuits succeed, home buyers and sellers could pay less for real-estate agents. But the industry's biggest players are gearing up for a fight.