Update on antitrust lawsuit against NAR
In March, a class action lawsuit was filed in the Northern District of Illinois against the National Association of REALTORS® (NAR) and four large brokerage companies alleging that the defendants conspired to restrain price competition among buyer brokers via promulgation of NAR’s MLS rules.
NAR filed to dismiss the Moehrl v. NAR, et al. lawsuit last week on the basis that the complaint intentionally misrepresents NAR rules and practices, according to NAR General Counsel Katie Johnson. NAR asserts that NAR’s practices have long been recognized by the courts across the country as being pro-consumer and creating competitive, efficient markets that benefit home buyers and sellers.
Johnson went on, “NAR firmly believes the plaintiff’s claims are without merit, and that the class action attorneys behind the lawsuit are wrong on the facts, wrong on the economics and wrong on the law.” Read NAR’s full press release on the filing here.