Moerhl v National Association Realtors (2019)
Background: Filed in March 2019, Moehrl et al. v. National Association Realtors, et al was a class-action, antitrust suit brought against the National Association of Realtors (NAR) and the four largest real estate brokers in the U.S. — Realogy Holdings Corp. (now called Anywhere Real Estate), HomeServices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc.
The lawsuit sought relief for defendants conspiring to inflate commissions by forcing homesellers to pay a blanket, non-negotiable fee to buyers’ brokers when their properties were listed on a multiple listing service (MLS). The result of the conspiracy was to increase the cost of homeownership by tens of thousands of dollars, putting home ownership out of reach for millions of Americans.
Impact: The first settlements of this case and the group of similar companion cases began in March 2024, rising to more than $1 billion now in recovery for plaintiffs and triggering widespread reform in the residential real estate industry’s model for broker compensation. It has been hailed as the largest change in the housing market since the New Deal. The settlement will save homebuyers an estimated $30 billion to $60 billion annually.
Media coverage:New York Times, Wall Street Journal, Business Insider
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