Texas Real Estate Groups Sued for Inflated Commissions ‘Conspiracy’
A new antitrust lawsuit filed in Texas names more than 30 real estate companies and associations across the state that home sellers QJ Team and Five Points Holdings allege have participated in a conspiracy developed by the National Association of Realtors that saddles home sellers with costs that should be borne by buyers. The proposed class action lawsuit alleges the practice results in inflated commissions and increased home prices. Last month in a similar lawsuit, a federal jury issued a $1.78 billion verdict to the sellers of about 260,000 homes in Missouri, Kansas and Illinois.