• Just when Big Real Estate thought they were out…they get pulled back in! A federal antitrust lawsuit against major players, known as the Batton 1 case, hasn’t been entirely thrown out. Ruling instead warranted some kind of “and the winner is…” drumroll.
• U.S. District Judge Marvin Hoffman decided that federal antitrust claims are off the table. But in true soap opera fashion, state-level claims are still live! So, the courtroom drama continues.
• The plaintiffs argued that the commission fees homebuyers pay are surreptitiously bundled in the final home price. They’re alleging it’s like a bad mystery meat in your deli sandwich… you didn’t order it, yet there it is!
• Hoffman’s ruling suggests that while some of their points were a little overcooked, parts were just right for the courtroom. So, a stew of state law claims about breach of competition, unjust enrichment, and other fun stuff will keep everyone busy.

Hot Take: Real Estate Monopoly, The Return!

Movers and Shakers of Real Estate involved in Antitrust Lawsuit

What’s in Your Home Price? Perhaps More Than You Signed up for…

Ok, folks! Grab your gavels, and pull up a front-row seat in the legal theatre because the Batton 1 case ain’t over. While the federal judge gave a polite ‘thanks but no thanks’ to some of the issues, he left the main course untouched: state law claims.

The gloves are still on, as real estate bigwigs have to spar with homebuyers about whether their commissions really are baked into the home prices. The plaintiffs say they’re getting served a sneaky, overpriced sandwich, while the real estate tycoons say it’s a tasty culinary surprise – and worth every penny.

As the drama unfolds, settle in, wheel out the popcorn, and brace yourselves for more legal jargon than you can shake a mortgage at. A special episode in the endless saga of the real estate industry’s antics.

Are you ready for yet another round of guess-the-commission? Or does anyone just want an honest-to-goodness just-home-for-sale, no surprises and conspiracy theories? Time, and Judge Hoffman, will tell. One thing’s for sure – the real estate market will keep us all on our toes and the tabloids full.

Original article: https://www.inman.com/2024/02/21/homeservices-released-from-long-running-buyer-commission-lawsuit/