Real estate brokerage Compass agreed to pay $57.5 million in class-action lawsuit settlements from U.S. home sellers on Friday. The antitrust lawsuits allege that the company conspired with other brokerages and trade groups to overcharge home sellers by billions of dollars.
According to the Associated Press, the plaintiffs claim that real estate brokers have been forcing home sellers to pay “artificially inflated” commissions to agents.
Homeowners had to include a compensation offer for buyer’s agents when listing properties for sale on real estate industry databases, as per The Guardian. Not including the offer could allegedly lead to buyer’s agents steering their clients away from the listing.
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