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Real estate industry facing pushback to longstanding rules setting agent commissions on home sales

By ALEX VEIGA
AP Business Writer

LOS ANGELES (AP) — A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill. One case ended Tuesday with a federal jury in Missouri ordering the National Association of Realtors and some of the nation’s biggest real estate brokerages to pay almost $1.8 billion in damages after finding that they artificially inflated agent commissions. At least two other court cases are pending. At issue: whether home sellers should be forced to pay the commission for the buyer’s agent in order to have their home listed on the widely used Multiple Listings Service.

Article Topic Follows: AP National

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